Atlanta, GA Multifamily Market Report | Lee & Associates | Q4 2025

Market Overview

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Atlanta's multifamily market absorbed 20,420 units over the trailing 12 months in Q4 2025, keeping vacancy at 11.1% despite an active delivery pipeline. Construction has begun to moderate, with units under construction falling to 16,818 from 22,184 a year prior. Asking rents held at $1,631 per unit, and investment pricing stayed near $210K per unit with cap rates stable at 5.50%. Job growth across tech, logistics, and healthcare continues to support renter demand, and sustained in-migration adds a structural floor. As new supply tapers into 2026, the market is positioned for gradual tightening.

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About Lee Associates

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Lee Associates is a nationwide commercial real estate brokerage serving investors, owners, and occupiers across property types. Their Atlanta Q4 2025 multifamily market report tracks absorption, vacancy, asking rents, and capital markets activity to help investors and owners assess market conditions. To read the full report, click here.

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