Corporate housing in Atlanta has taken off massively in recent years, as you may already know. The city has become a flourishing business hub, drawing multiple start-ups and large corporations in multiple business segments. The Hartsfield-Jackson Atlanta International Airport is the busiest in the world, while there’s a fast-growing and highly skilled workforce here, in tandem with low corporate taxes and multiple incentives in the state of Georgia.
Interestingly, Atlanta has a robust economy while being home to several Fortune 1000 and Fortune 500 companies, along with several startups and VCs. This has naturally led to a growth in business travel and subsequently demand for furnished apartments among business and corporate travellers. It has had a huge impact on shoring up the furnished apartment market in Atlanta. Let us look at how corporate travellers are powering this category in recent times.
The growth of the Atlanta serviced apartment market can be better understood by looking closely at the city’s status as a major convention city and hub for corporate travel. For starters, it’s a regional hub for corporate headquarters, being the 4th most concentrated city for the headquarters of Fortune 500 entities nationally. It’s also among the top-20 cities in terms of Global 500 company headquarters. Some major companies here include Coca-Cola, UPS, Delta Air Lines, and a lot more. There’s also the Georgia World Congress Center (GWCC), an LEED-certified convention center that hosts several top events throughout the year.
At the same time, there’s been a vast influx of business travellers due to flourishing sectors including finance, technology, healthcare, and films. This naturally enhances the importance of quality temporary accommodation for mobile professionals, remote workers, relocating expats, and of course, digital nomads coming down to Atlanta for events, meetings, projects, and more.
Furnished apartments in Atlanta are seeing an upswing due to their inherent premise of ready-to-live spaces with all the essentials that you want. You can land in the city and move into your furnished apartment without any hassles. Otherwise, you’d have to rent furniture and take care of all the other amenities yourself, which is time-consuming and complicated.
At the same time, they are better than hotels for most corporate travellers, going by the higher space and flexible leases, in tandem with more privacy and home-like comfort. At the same time, there are hotel-like amenities and services, while you get these apartments at lower costs, particularly for extended stays. So naturally, they have an intrinsic appeal for professionals who’re visiting Atlanta on mid to long-term assignments since they won’t prefer staying in small hotel rooms and pay more for the same.
What’s behind the boom in extended stay apartments in Atlanta for corporate travellers? There are several factors that come into play here, including an increase in project-based assignments for global professionals, often necessitating mid to long-term stays in Atlanta and of course, extended stays for remote workers and digital nomads. At the same time, employee relocation for setting up new teams and taking over businesses in Atlanta is another reason.
There’s also been growth in the film and entertainment industry in Atlanta, with several projects being shot across diverse locations and cutting-edge studios here, thereby necessitating extended temporary accommodation for crews. Remote work flexibility has also empowered several professionals to live in Atlanta for the long haul, while getting work done with business-friendly amenities at these furnished apartments.
The writing on the wall’s pretty clear as far as corporate travel trends 2025 for Atlanta are concerned. You’ll be amazed to know that the overall apartment supply went up by 1.83% last year in the city, although demand has increased exponentially for furnished apartments with a shift in consumer demand towards rental options and furnished living apartments.
A CORT study also reveals how 77% people would consider furnished apartments in Atlanta, while there’s been steady growth in the Atlanta metro area due to the increase in young professionals. Higher rental prices are anticipated in the category for the future, since demand clearly outpaces supply, making it more attractive for investors and developers too.
Occupancy rates are already strong throughout the Midtown, Downtown, and Buckhead zones while net absorption went up in the multifamily market for 2Q 2024 at 6,265 units. Developers are presently building 28,000 units, which are around 5.4% of total inventory in Atlanta. H1 2024 saw 15,853 apartments being added (the highest in any half-year period) with average occupancy rate of 90.5%, testifying to strong corporate leasing growth with demand for flexible terms.
The future outlook looks rosy for corporate housing in Atlanta, with demand expected to go higher as a result of expanding hybrid and remote work culture, more corporate relocation exercises, and more companies providing housing in the city within these relocation packages. At the same time, the growth in tech-driven bookings and professional property management services will continue making these apartments more appealing to corporate guests and investors alike. There could also be increasing emphasis on sustainable and eco-friendly apartments along with smart technologies and digital-first customer service and support.
Clearly, there’s never been a better time for corporate housing in Atlanta, going by the soaring demand for furnished apartments in the city. Its status as a major regional HQ and convention city is contributing to this boom along with emerging sectors like films and television, technology, and more. At the same time, developers are looking to shore up supply in a bid to meet demand, which makes it an attractive proposition for investors eyeing decent ROI in the long haul from property investments. Atlanta is on the cusp of a massive hospitality boom, going by its heartening business growth in recent years. Reputable online platforms like TheSquare also have a wide range of apartments in Atlanta at reasonable rates and that too with flexible short and long-term stay choices.
