Once a Top Performer, Atlanta Rent Growth Tumbles
While it wasn’t that long ago that Atlanta rents were growing at one of the fastest rates in the country, the market’s growth pace has slowed significantly. After peaking at 5.5% in 1st quarter 2019, annual rent growth has softened to less than half that rate. In the year-ending 1st quarter 2020, Atlanta rents were up just 2.2%, well below the market’s five-year average of 5% and about 50 basis points below the national norm of 2.7%. Rent growth in Atlanta hasn’t been this slow since late 2010 when the market (and nation) was still climbing out of the most recent economic downturn.