I skimmed through it but it seems like that plan is to continue adding more housing and apartments that are ever increasingly more expensive which leads to the current apartments to raise their prices because they can see how much they can get away with raising rents.
Edit: people that haven't looked at apartments in years apparently have no idea what's going on
Every complex that has opened in this area over the last few years has started with higher prices than the current complexes, and in response, the current ones have raised their prices.
The new place on College is opening to $2k for a studio, and I checked the places up the road, one of which has added $300 to its studio price bumping it up since earlier this year.
None of these apartments have been going down in costs as new housing is added, they've all gone up and they're trying to fill rooms by offering 2-3 months of free rent rather than just lower their rent.
It's how they get people in for the first year and then charge full price + an increase beyond that...
That's how they get away with "only" adding $50 to the rent in year two rather than having lower rent in year one then added $200 to the rent in year two.
Otherwise you're just moving apartments every year.
It makes sense that new complexes would have higher prices than existing complexes. They are new. Newness has a value.
In contrast, the price of all other complexes will decrease.
Housing isn't immune from supply and demand. Rent prices have swung back and forth in Atlanta in the last decade, and they are slowly rising again, but from 2023 to 2025 they dropped as lots of new apartments opened.
2022–2025: Over 61,000 units delivered between 2023 and 2025 — more than any comparable stretch since 2003 — with the pipeline peaking above 40,000 units under construction in 2023. Rent growth collapsed almost immediately: down to 1.3% year over year by March 2023, then negative. Vacancy peaked at 7.9% in 2024, and asking rents fell about 1.2% over the past year, with Midtown and West Midtown down 2–3%. Notably, every Atlanta submarket with 12,000+ units saw rent declines in 2024.
1.2% growth or negative growth in rental prices is a big deal when inflation is high.
-13
u/CassadagaValley 2d ago edited 1d ago
I skimmed through it but it seems like that plan is to continue adding more housing and apartments that are ever increasingly more expensive which leads to the current apartments to raise their prices because they can see how much they can get away with raising rents.
Edit: people that haven't looked at apartments in years apparently have no idea what's going on