Multifamily permits issued in Atlanta remain above pandemic-era levels
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Permits for multifamily housing have dropped below pre-pandemic and pandemic-era levels in most large cities, but they've increased slightly in Atlanta, according to Redfin.
Why it matters: A wave of new apartments helped curb rent hikes over the past few years. For many renters, however, that break is fading.
By the numbers: U.S. developers got permits to build 12.4 multifamily units per 10,000 people in recent months, according to Redfin's analysis of Census Bureau data.
- That's down roughly 27% from the pandemic surge (17 units) and down around 5% from pre-pandemic levels (13.1 units).
- 63% of major metros are seeing fewer units approved per 10,000 people compared to pandemic-era rates.
Yes, but: That's not the trend in Atlanta and other Sun Belt metros, which permitted the most multifamily housing recently, meaning buildings with five or more units.
- In the Atlanta area, developers got permits to build 19.1 multifamily units for every 10,000 people between April 2024 and March 2025, according to Redfin.
- That's up slightly from 18.1 multifamily unit permits issued during the pandemic era, which Redfin defines as between 2020 and 2023.
The big picture: While the metro has seen an uptick, data from the Atlanta Regional Commission shows the area is not building both single-family and multifamily housing at the same rate as in previous decades.
- The region approved an average of 32,183 residential units per year between 2011 and 2020, down from 54,469 between 2001 and 2010.
- Additionally, the region lost more than 230,000 low- to moderately priced housing units between 2018 and 2023.
What they're saying: Builders nationwide are "pumping the brakes because elevated interest rates are making many projects prohibitively expensive," Redfin senior economist Sheharyar Bokhari wrote in the report.
The bottom line: The construction slowdown, which tariffs could prolong, risks reigniting rent inflation — especially in cities where demand still outpaces supply.
- Average rent for a multifamily unit in Atlanta is $1,684 — 8% higher than the current national average, and $75 less than a year ago, according to Zillow.
Go deeper: Atlanta lost 232K affordable housing units from 2018 to 2023