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Rents for Atlanta Apartments Average $1,100 for First Time

The market for Atlanta apartments performed steadily in July, as average rent exceeded $1,100 for the first time.

By Stephanie McCleskey | Thursday, August 25, 2016

Performance of Atlanta apartments was relatively steady in July 2016, though the average effective rent level cracked the $1,100 barrier for the first time, according to Axiometrics, the leader in apartment and student housing market intelligence.

Average rent has increased for eight straight months, and this market avoided the sharp rent decreases much of the nation experienced late last year. Job growth is still robust, and the demand should be able to absorb most of the large amount of new supply coming to market this year.

Atlanta employers added 69,400 jobs in the 12 months ending in June, a slower pace than earlier this year with a cycle-high 10,246 new units expected to come market this year and another 9,644 identified for 2017 completion.

In researching Atlanta as compared to the national market, Axiometrics reported data as follows:

The rolling two-year data for rent growth and occupancy in Atlanta signal steady performance.

Stephanie McCleskey

Stephanie McCleskey

VP Data Acquisition

Stephanie McCleskey has been instrumental in developing—and maintaining—the foundation supporting the timely collection and dissemination of in-depth apartment market and student housing data. Her tenure at Axiometrics has generated a rigorous quality control method to ensure on-time reports and accurate data for Axiometrics clients.

McCleskey also organized and now oversees research and tracking processes for Axiometrics’ construction pipeline process, creating the methodology to update under-construction and lease-up properties on a monthly basis, thus ensuring clients have access to immediate and indispensable data for effective decision making purposes. Additionally, her efforts are focused on supervising, managing, motivating and training a value-add team of Axiometrics researchers.

McCleskey received her degree in real estate finance from Southern Methodist University’s Cox School of Business.

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