The Gist: Atlanta is experiencing a flurry of apartment construction, with several zip codes ranking among the top 50 in the country.
Why It Matters: This boom in construction is meeting the growing demand for rental housing in and around Atlanta. It also indicates a strong economy and population growth.
What’s Happening: According to a study released by RentCafe, Midtown (30309) and West Midtown (30318) zip codes lead the pack with over 5,000 and 3,500 new apartments, respectively. Other hot spots include Suwanee (30024), Duluth (30096), and downtown (30308).
Between the Lines: This surge in construction can be attributed to Atlanta’s status as a desirable location for job seekers and businesses.
Catch Up Quick: Previous reports show that Georgia’s population growth is exploding.
The Big Picture: Expect more rental options across the metro area as developers continue to capitalize on this trend. Renters could benefit from increased competition and possibly lower rents.