Atlanta will only become more relevant as a hub for finance and culture in the 2020s.
Its construction volume is expected to see sustained growth through at least 2025, driven mainly by the infrastructure sector. The Atlanta area is very suburban, with most of the population living outside of the city itself and commuting in. With expected population growth on the horizon, there will be a genuine need to connect all these disparate communities. Conversely, Atlanta is looking to rebuff this trend and is investing in high-density, mixed-income residential projects in its urban core. This is visible in the city’s footprint, which has grown upwards rather than outwards.
Atlanta boasts one of the most educated workforces in the country. Adults here are almost twice as likely to have a degree (and able to work remotely) than the national average. Firms with operations in the city have been better able to adapt to remote work than the surrounding communities, which has, in turn, kept unemployment low. Atlanta is one of the few markets that has made a full recovery. Unemployment is within 0.1% of its pre-pandemic level, while construction labor is making steady gains. This will likely push labor costs higher in the short term, albeit only slightly.