Amid a tight housing market, the metro area is experiencing a surge in Atlanta luxury apartments. People remain renters for longer than before, so their expectations of what their homes must offer have also changed and developers have rushed to deliver. Riding the wave of migration, Atlanta is no exception and according to Yardi it scores 12th place among the top cities that built the largest share of luxury rentals over the last decade.
Atlanta has seen a surge in building apartments that offer VIP treatment. That’s according to Yardi’s most recent analysis based on the ratio of high-end apartments out of the total deliveries in the last 10 years, in the US’s 100 biggest cities.
According to their analysis, Atlanta shifted decisively toward premier living over the last decade. Boasting a strong economy and important population growth, Atlanta’s prosperity also translates into an increased appetite for rental apartments that provide superior living conditions for their residents.
When asked about apartment construction activity in the near future, Robert M. Aydukovic, Teaching Specialist at Michigan State University, replied “I think we’ll see a larger focus on indoor air quality and broadband/5G networks being turned into a selling feature in the near future. Buildings with larger units that provide more space for spreading out, plus a home office, and don’t make us feel so confined if we have to enter lockdown periods, will be in higher demand for a time. Buildings in close proximity to outdoor space for distancing and recreation will outperform.”
Main highlights of Atlanta Luxury Apartments
- Atlanta ranks in the top 15 in the nation for premier apartments, with 94% of its new apartments offering top-notch living.
- In response to growing demand, over 48,200 units have been delivered in Atlanta over the last decade.
- Atlanta apartments that fall under the “luxury” label come with plenty of space – almost 1,000 square feet on average, 80 more square feet more of space than the non-luxury ones.
- Besides space, these apartments also provide a plethora of amenities. These include, among other things, resort-like pools, tennis courts, EV charging stations and co-working spaces, as well as more practical features like outside storage.
Check out the full report for more detailed data, together with what experts have to say about the trends in luxury development, here: https://www.storagecafe.com/blog/mid-sized-cities-in-arizona-texas-lead-the-country-for-premier-apartment-living/
Do you think the construction of premier apartments can be a solution to current housing needs in Atlanta? If this is something you would be interested in covering, I’m happy to send over a blurb summarizing our findings. Please do not hesitate to reach out if you have any questions.