Atlanta Multifamily Market Report

Household relocations are driving long-term growth momentum. The metro is on pace to gain 110,800 new residents via in-migration from 2023 and 2024, ranking third among major U.S. metros during that period. This growth is bolstered by corporate investments like Gas South’s new headquarters in Cobb County and NVH Korea’s $72 million facility in Henry County. Additional well-paying jobs are lifting the median household income, projected to exceed $95,000 by December. Rising homeownership barriers amid higher costs and tighter credit conditions, however, are intensifying demand for apartments despite higher incomes. Atlanta saw its second-largest increase in occupied stock in two decades over the past year ended in June 2024, with demand rising in the central and northern areas. The Far North suburbs, Midtown and Northeast Gwinnet County each saw over 1,500 additional occupied units during that period.