December brings cooling apartment rents to some parts of metro Atlanta

by John Yellig

Courtesy of Zumper.

The cost of an apartment declined in several parts of metro Atlanta last month, led by Decatur, where the median rent for a one-bedroom unit fell 5.3% from November to $1,430, Zumper reported.

The median one-bedroom rent in the city of Atlanta declined 2.4% month over month in December to $1,640, while Smyrna saw the greatest increase, a 4.9% jump to $1,490, the online listing agent said, citing an analysis of new listings that went live during the month.

Despite the declines, all seven metro locations in the survey saw year-over-year increases, led by Alpharetta, where the median rent surged 25.5% to $1,820. Alpharetta also had the most expensive rent, well above Sandy Springs, which had the second-highest rent, at $1,660.

Rent in the city of Atlanta, the third-priciest jurisdiction, was up 14.7% year over year.

The year-end figures come at a heady time for Atlanta’s multifamily market. Numerous apartment properties have changed hands in recent months, and construction of new communities is moving at a breakneck pace, both in Atlanta-proper as well as its suburbs

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