For our latest Apartment Construction Report, we analyzed Yardi Matrix data for 370 U.S. metropolitan areas, unveiling the hotspots for America’s construction landmarkyear and what’s to come. 

Here are the details: 

• Atlanta metro is expected to welcome 18,520 new units by the end of 2024, outpacing heavy builders like Washington, D.C. (15,079 units) and the nation’s hottest rental market, Miami (14,177 units).  
   

• On a city level, Atlanta proper leads with 7,184 units set to open before the end of the year, followed by Kennesaw, Chamblee and McDonough — these suburbscombined are expected to welcome more than 3,000 units in 2024.  

Will the building frenzy continue through 2028?  

• The metro is projected to slow down with 57,104 new units by 2028 — reflecting a 22% decrease compared to 2018-2023. Despite the slowdown, Atlanta remains a construction powerhouse, ranking among the top 10 metros for future deliveries.  
   

• Compared to the previous five-year period, Atlanta proper will see a 29.6% decrease with 22,574 units expected between 2024-2028. In contrast, Kennesaw, Chamblee and McDonough are expected to double the number of completed apartments. Together, these three Atlanta suburbs will open over 6,000 new units through 2028. 

The big picture:   

• Nationwide, 2024 is set to make history in apartment construction, surpassing the 500,000-unit threshold for the first time on record. But after this unprecedented peak, a slowdown is on the horizon through 2027, followed by a potential rebound in 2028. Specifically, a total of 2 million new apartments are expected by 2028, with 52% of the 370 metros analyzed likely to experience a slowdown in construction between 2024 and 2028.  

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