This year is looking like it will be a strong one for Atlanta's multifamily sector, as supply pressures are expected to compress, according to a report from Marcus & Millichap.
Already, the market was heading into its lowest vacancy levels recorded since the post-pandemic recovery began, the brokerage said. In 2026, it is forecast that the rate will tighten by an additional 50 basis points to 5.2 percent, as Atlanta continues to rank amongst the top metros in the nation for in-migration, according to the report.
"In 2026, supply pressure will ease," Marcus & Millichap said.
"This, combined with continued in-migration, will support a further reduction in metro vacancy. In the core, this will be evident in downtown and Midtown Atlanta, where fewer than 600 units are scheduled to open. Suburbs where renter demand has recently strengthened may also see vacancy compression."
Additionally, construction is set to fall by 8,400 units, almost half the amount posted in 2025.
Meanwhile, some areas, including Buford and Buckhead, are projected to see high delivery volume.
Most notably, Marcus & Millichap said Atlanta is set to rank second among major markets in effective rent growth at 4.1 percent in 2026. This would reverse two straight years of declines.
Interestingly, average pricing for apartments in Atlanta ranked the lowest of all primary metros last year. Marcus & Millichap thinks this will attract investors located outside of Georgia.
Last year, transaction velocity increased, with trades between $1 million and $10 million specifically seeing a tick up. By Atlanta regions, sales were concentrated in Cumberland, Midtown and Gwinnett County, where limited supply and strong demographic trends exist, according to Marcus & Millichap.
"Elsewhere, Clayton County listings should also capture investors' attention, it suggested.
"Here, Class C 1980s-era assets are recording vacancy improvement, yet remain available at price points comparable to the aforementioned areas."
Atlanta is projected to increase its employment base by 0.6 percent, adding 19,000 jobs in 2026.
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