News
ATLANTA: The Holy Grail of Multifamily Rents
May 30, 2014
According to the National Multifamily Housing Council, average rents across the US were $1.22/SF by 2012—up from the '09 lows of $1.10/SF. While no figures are available for last year, experts say it's gone well beyond that. According to JLL, some of the tightest markets like Seattle, Houston, Denver, and San Fran have jumped in excess of 6% year-over-year. Now Atlanta has been chasing its Holy Grail: the $2/SF rent. And it's been getting it, and then some. Daniel Corp has achieved the best rents so far, with Midtown's 77 12th St (above) seeing $2.31/SF. Right behind it is Novare's SkyHouse South in Buckhead being developed by former Atlanta condo king Jim Borders, which is hitting $2.24/SF. Occupancy for the city is a healthy 96.1%.
