To celebrate this year’s highlights, we’ve gathered the Top Reports of 2024, showcasing the trends, surprises, and standout moments that shaped the U.S. rental market.    

Atlanta apartments built in the last decade average 904 square feet. That’s 61 square feet less than what was built before then. Looking ahead, future units in Atlanta are set to shrink by an additional 29 square feet.  

• Renter Favorites Revealed – 1st Half of 2024: We looked at engagement on RentCafe.com through listings views, as well as favorited apartments and saved searches to have a more in-depth interest of renters. Additionally, we factored in rentals availability in the city, for a closer look at demand fluctuations year-over-year for monthly snapshots of renter market dynamics. 

Atlanta is the 3rd most sought-after city by renters in the first half of 2024.  

• Year-End Rental Market Competitiveness Report: In 2024, there were 9 applicants per vacant unit, which stayed on the market for 40 days. The average occupancy rate was 93.6%, while the lease renewal rate increased year-over-year to 62.2%. Furthermore, the rentals inventory grew nationwide by 2.59%. All these metrics combined resulted in a Rental Competitiveness Index (RCI) score of 74.4 (out of 100). 

In 2024 in Atlanta, 7 renters were vying for the same vacant apartment, which stayed vacant for 44 days, on average. RCI score 69.2. In the suburbs, there were 8 applicants and a vacancy of 45 days. RCI score 66.9. 

• Build-to-Rent on the Rise: Build-to-rent housing saw a major surge in 2023, with 27,500 homes completed (a 75% jump from 2022). Looking ahead, over 45,000 build-to-rent homes are currently under construction.  

Atlanta saw 1,981 build-to-rent homes completed in 2023, twice the number it delivered the year prior (931 units). Atlanta is ramping up on BTR construction, with even more units scheduled for delivery in the following years: 2,341 units. That’s the 5th biggest pipeline in the country.  

• Adaptive Reuse on the Rise: The adaptive reuse trend gained momentum, with 12,700+ buildings converted into apartments in 2023. Hotels were the top choice for conversions. With 151,000 apartments currently underway, this revival shows no signs of slowing down.  

Peachtree Corners leads the way in converted apartments from offices in 2023 - 295 new apartments, while Atlanta has more than 2,000 apartments underway from retrofitting projects. Office building conversions are at the forefront of future adaptive reuse in Atlanta, accounting for 68% of the total projects (1,411 units, to be exact). 

• More Space for $1,500: Renters across the U.S. can expect an average of 729 square feet for $1,500 per month, but in 62% of the 200 largest cities, you’ll find even more room. Cities like Wichita, KS, offer exceptional value, with $1,500 getting you 1,359 square feet. 

For $1,500 per month, renters in Atlanta get 812 square feet. Here’s a fun fact: Silicon Peach offers double the space renters in Silicon Valley get for $1,500 monthly.  

• Best Cities for Renters: To help renters identify the best cities for renters, we looked at 20 relevant metrics across 150 U.S. cities. These metrics — which include apartment quality, economic strength, traffic, air quality and natural amenities — were then grouped into three categories: cost of living and housing; local economy; and quality of life.  

Atlanta #2  > Cost of Living and Housing rank 9; Local Economy rank 4; and Quality of Life rank 23.  

• America’s Most Livable Metro: After analyzing 139 U.S. metros and using 17 key metrics to assess factors like cost of living, access to lifestyle amenities, and community spirit, we believe we’ve found the ideal locations — and it all hinges on livability.  

Atlanta rank 104 

• Socioeconomics: #31 (includes poverty rate, unemployment, income growth, cost of living) 

• Quality of Life: #105 (includes health-care providers, uninsured residents, food index)