Apartment Demand Catching Up to Supply in Southeast

Apartment demand has been significant in the Southeast and is catching up to record supply levels. The Southeast region of the country, which covers markets across Florida, Georgia, Alabama, South Carolina and North Carolina, has seen sizable supply volumes recently. Roughly 111,200 units delivered in this region in the year-ending 3rd quarter 2024. Atlanta was the region leader with over 25,000 units coming online in the past year. Meanwhile, apartment demand across the Southeast has been catching up as the region absorbed more than 93,600 units in that same time frame. Again, Atlanta was the region’s leader for demand, with 20,100 units absorbed in the past year. While demand is still about 17% behind concurrent supply volumes in the Southeast, that marked a significant improvement from the 80% delta from one year earlier. In the near term outlook, demand is expected to get even closer to supply, closing the gap even further.

For more information on the state of apartment markets in the Southeast region, including forecasts, watch the webcast Market Intelligence: Q4 Southeast Update.