Georgia’s Luxury Apartments Are Seeing Significant Rent Losses

With the coronavirus pandemic pushing local and state leaders to issue shelter-in-place orders, housing demand across nearly all Georgia markets is diminishing. As a result, apartment landlords are lowering rents across the state. Rent growth across all apartment asset cohorts in Georgia fell an average of 1.2% year-over-year in the first quarter to 0.3% today, a drop in 90 basis points.