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April 20th, 2018 by Marco Santarelli
Should You Invest In Atlanta Rental Properties?
There are many reasons to invest in Atlanta rental properties such as lucrative returns, growing population, great neighborhoods & school systems, good infrastructure, solid appreciation of properties, etc. Metro Atlanta is fast becoming a shinning star in the real estate investment sector.
Here are some conspicuous signs for investors to go ahead and plan out their investment in the growing Atlanta Real Estate Market in 2018.
Atlanta Housing Market has seen a constant growth in both the suburbs as well as the metro area over the past decade. Atlanta metro area is home to over 5.5 million, making this area a great place to invest in rental properties. Atlanta has a growing economy that is 8th in the nation for GDP and is home to a wide variety of business that includes Fortune 500 companies. Relocation of payment processing giant NCR is expected to bring more than 3,500 jobs to the metro Atlanta region.
Atlanta is projected to be the 6th most populated metro areas with 7.3 Million population by 2020 (US Census Bureau). Atlanta offers access to 3 major interstate freeways connecting major regions of the US (South east, North east, Midwest, West).
Atlanta is not only home to the world’s most traveled airport, Site Selection Magazine named Georgia the best state to do business for the fifth year in a row. Metro Atlanta ranks as the nation’s 6th largest information sector. Not to mention, social media giant Facebook is planning to build a sprawling new data center in the Walton County town about 40 miles east of Atlanta.
Atlanta has some of the best schools in the country such as Morningside Elementary School, Heards Ferry Elementary School, Charles R. Drew Charter School, Inman Middle School, Chamblee Charter High School and Early College High School At Carver. These are just a few to name. Overall, there are 100 schools in Atlanta. Having all these good schools is a good thing for renters in Atlanta.
Atlanta Real Estate Market Statistics 2018
According to the Atlanta Journal Constitution, rent prices rose in 2015 by a margin of 8.1 percent compared to the previous year. In 2016, the rent rose by 6,5 per cent. Steady growth within the market has been bolstered by continued job growth coupled with a strong local economy.
By August 2016, the rent prices had grown for eight consecutive months. The city averted a late 2015 rental decrease that affected a majority of markets, mostly attributed to Atlanta’s robust job market. A big number of companies including Interface and NCR shifted their operations to Atlanta, GA bringing with them loads of job opportunities.
In July 2016, the average rent reached a high of $1,100 with an occupancy level of 94.5%. The current average rent stands at $1,309, a 3% increase compared to the year 2017 when the average rent was at $1,267. An upward trend of the average rent appreciating is evident. Considering current trends, the rent will continue increasing and anyone would gain if they invest in the current market handsomely.
Being the third largest metropolitan in the southeast, Atlanta attracts families from all over the Midwest as well as the southern united states. In the year 2017, 74,500 new jobs were created only in the Atlanta region. The figure represents an annual growth rate of 2.85% which is relatively greater compared to the current national average which stands at 2.35%. The job growth impacted the population by growing it at a 4% rate, which is definitely a promising sign for any property investor looking to buy property in Atlanta.
Atlanta Home Values Forecast 2018
According to Zillow.com, the current median home value in Atlanta is $236,638. Atlanta home values have gone up 12.4% over the past year and Zillow predicts they will rise 7.5% within the next year. Their 1-year forecast in the graph given below shows an increase up to $254,000 in March, 2019.
The median list price per square foot in Atlanta is $224, which is higher than the Atlanta Metro average of $117. The median price of homes currently listed in Atlanta is $310,000. The median rent price in Atlanta is $1,700, which is higher than the Atlanta Metro median of $1,400.
Atlanta Rent Prices Trend 2018
According to a report published in Hotpads.com, Atlanta’s rents are quickly on the rise, outpacing San Francisco. Intown rent prices continue rising, even though the city boasts almost twice as many new rental offerings as last year. The city’s rental housing stock has spiked overall by about 71 percent. In Midtown, it’s increased year-over-year by nearly 173 percent, per the report.
The good news is Atlanta renters have many new rental listings to choose from — the city saw 71 percent more newly-available rental listings come online over the past year. Renters in Midtown and North Buckhead really hit the jackpot, with each neighborhood reporting newly-available rental inventory increases over 150 percent year-over-year.
According to Forbes, The Atlanta-Sandy Springs-Marietta metro area is among the 20 best housing markets to invest in for 2018.
Here’s how the area stacked up among key metrics:
23 Reasons To Invest In Atlanta Rental Properties
Atlanta, GA is an investor’s goldmine. After experiencing years of slow growth, Atlanta, GA has come up to join some of the most prospective real estate investment hubs in the USA. By doing some research on the Atlanta real estate market, we give you 21 reasons to invest in Atlanta rental properties in 2018.
https://patch.com/georgia/atlanta/atlanta-housing-market-among-best-invest-2018-forbes http://www.noradarealestate.com/blog/benefits-of-investing-in-real-estate/ https://www.investatlanta.com/ https://www.homeunion.com/market-research/atlanta-market-research/
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