Renters Snapping Up Units at All-Time Highs in Augusta, GA

Apartment demand hit an all-time high in the small Augusta, GA apartment market in the year-ending 1st quarter, pushing well ahead of concurrent supply volumes. Augusta joins a handful of other small apartment markets between 30,000 to 50,000 units of existing stock to hit an all-time absorption high in the early months of 2025, including Florida markets Myrtle Beach, Lakeland and Pensacola, as well as Trenton, NJ in the Northeast. Demand reached 1,351 units in Augusta in the year-ending 1st quarter, more than doubling the 675 units of supply delivering in the market in the same time period, according to data from RealPage Market Analytics. For comparison, over the past five years, annual demand has averaged closer to 600 units in this market. As a result of surging absorption volumes, occupancy in Augusta has rebounded, tightening 440 basis points in the past year to land at 95.3% in April, well ahead of the market’s long-term average.