Marcus & Millichap

Atlanta Multifamily Investment Forecast

2019 Outlook

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Broad-Based Growth Attracts New Residents; Buyers Search for Yields in Southwestern Suburbs

Several bustling industries support apartment demand. Atlanta remains one of the top markets in terms of job creation in 2019 as corporate expansions and the growing film and trade industries drive hiring. This healthy employment growth will continue to lure new residents with an estimated 88,000 individuals expected to move to the metro this year. The influx of new residents will support household formation above the national rate of growth, underpinning housing demand. Households who desire to live in popular areas, like Midtown and Buckhead, will turn to rentals as high home prices in these locales make homeownership difficult. Others will look to apartments in suburban areas near outlying employment hubs where more affordable rents than often found inside the perimeter exist. Vacancy rates in many outlying suburbs rest below 4 percent with effective rents between $600 and $800 per month lower than inside I-285. Strengthening demand in these areas will support further vacancy improvement this year. 

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