Buckhead and Midtown are showing occupancy levels approaching 100%. Rents are rising 2.5% to 3.5% annually, driven by the demand from new residents, the report states. Metro Atlanta added more than 100,000 new jobs in 2000.
The average monthly rent is $755. For two-bedrooms, the rate is about $782 per month. Hundreds of apartment units are being converted to condos.
New construction is at about the same rate as in the past few quarters--about 12,000 new units per year.
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