The March 2023 Market Brief offers valuable insights into the Atlanta housing market, showcasing the trends and changes in sales and prices. Despite a decrease in sales activity compared to the previous year, the market demonstrates resilience with steady price appreciation. The increase in housing inventory provides potential opportunities for buyers, while the competition for new listings contributes to price growth and shorter selling times, according to the Atlanta REALTORS® Association (ARA).
ALSO READ: Georgia Housing Market Forecast
Decreased Sales Activity
In March 2023, there were a total of 5,100 residential sales, representing a 26.0% decrease compared to the previous year's figures. This decline can be attributed to various market factors and changing buyer behaviors.
Steady Price Appreciation
Despite the decrease in sales, both the median and average sales prices continued their upward trajectory. The median sales price for March 2023 was $397,000, showing a modest increase of 0.5% compared to the same month in 2022. The average sales price reached $478,500, reflecting a healthy 1.7% growth over the previous year.
March 2023 vs. February 2023: A Monthly Comparison
Rebounding Sales: March 2023 witnessed a significant rebound in sales activity compared to February 2023, with a notable increase of 31.0%. This surge in sales indicates renewed interest among buyers in the Atlanta housing market.
Rising Prices: Both the median and average sales prices experienced positive growth on a monthly basis. The median sales price for March 2023 reached $397,000, marking a substantial 2.6% increase from the previous month. Similarly, the average sales price climbed to $478,500, representing a robust 3.8% rise compared to February 2023.
Housing Supply and Inventory Analysis
In March 2023, the total housing inventory in the Atlanta area rose to 9,203 units, showing a significant 28.6% increase compared to the same period in 2022. This expansion in housing inventory could provide more options for buyers and potentially contribute to a more balanced market.
Declining New Listings
Although overall inventory increased, new listings decreased by 18.6% in March 2023 compared to the previous year. However, there was a notable surge of 29.8% in new listings from February 2023, indicating some renewed activity in the market.
Supply and Demand Dynamics
With the current pace of sales and available inventory, the month's supply over a 12-month period increased to 1.8 months. This indicates that if no new listings were added, it would take approximately 1.8 months to exhaust the existing inventory based on the current level of demand.
Largest Metro Counties Sales Comparison
The Atlanta housing market is composed of various counties, each with its own unique characteristics and sales dynamics. Let's take a closer look at the sales comparison of the largest metro counties in terms of total units sold, median sales price, and average sales price.
Cobb County: Cobb County reported a total of 810 residential units sold in March 2023. The median sales price for this county was $410,000, while the average sales price reached $462,000. With its desirable location and diverse housing options, Cobb County remains an attractive choice for homebuyers.
DeKalb County: In March 2023, DeKalb County recorded 762 residential units sold. The median sales price in this county was $350,000, while the average sales price stood at $441,500. DeKalb County offers a mix of suburban and urban living, attracting buyers with its affordability and proximity to amenities.
Fulton County: Fulton County, one of the largest and most populous counties in the Atlanta metropolitan area, saw 1,164 residential units sold in March 2023. The median sales price in Fulton County reached $412,500, while the average sales price soared to $577,000. With its vibrant city life, diverse neighborhoods, and cultural attractions, Fulton County remains a popular choice for homebuyers.
Gwinnett County: Gwinnett County reported a total of 1,000 residential units sold in March 2023. The median sales price for this county was $400,000, and the average sales price stood at $446,000. Gwinnett County offers a blend of suburban and rural living, providing residents with a balanced lifestyle and access to excellent schools.
These largest metro counties showcase the diverse range of housing options available in the Atlanta area. Each county has its own unique appeal, attracting buyers based on factors such as location, amenities, and affordability. The variations in median and average sales prices reflect the differences in housing markets across these counties.
Market Insights from Atlanta REALTORS® President, Michael Fischer
According to Michael Fischer, the President of the Atlanta REALTORS® Association, the recent decline in interest rates has sparked renewed interest among buyers. Despite lower transaction volumes compared to the previous year, the scarcity of inventory has led to increased competition, resulting in slight price appreciation and shorter days on the market for properties in certain areas.
Market Forecast: Atlanta Housing Market
Based on the analysis of the March 2023 Market Brief and the sales comparison of the largest metro counties in Atlanta, we can make a forecast for the future of the housing market in the region. It's important to note that market conditions can be influenced by various factors and are subject to change. However, considering the current trends, here is a potential forecast for the Atlanta housing market:
Moderate Sales Growth: Despite the decrease in sales activity in March 2023 compared to the previous year, there are indications of a rebound in sales. The significant increase of 31.0% in sales from February 2023 suggests renewed interest among buyers. This trend may continue, leading to moderate sales growth in the upcoming months.
Steady Price Appreciation: The Atlanta housing market has been experiencing steady price appreciation. Both the median and average sales prices have consistently shown positive gains. Although the growth rate may vary, it is expected that prices will continue to appreciate in the near future, driven by factors such as low inventory and increased competition.
Fluctuating Inventory Levels: The increase in housing inventory observed in March 2023 provides more options for buyers. However, the declining new listings compared to the previous year could lead to fluctuating inventory levels. It's essential to monitor the balance between supply and demand as it can impact pricing and market dynamics.
Competitive Market Conditions: The competition for new listings has intensified, resulting in multiple offers on properties in certain areas. This trend is likely to continue, especially considering the low inventory levels and the continued interest among buyers. Sellers may benefit from a competitive market, leading to potential price appreciation and shorter selling times.
Market Variations Across Counties: It's important to recognize that market conditions can vary across different counties within the Atlanta metropolitan area. Factors such as location, amenities, and local economic conditions influence the housing market dynamics in each county. Buyers and sellers should consider the specific trends and characteristics of the county they are interested in.
While this forecast provides a general outlook for the Atlanta housing market based on the available data, it's important to consult with real estate professionals and stay updated on the latest market trends for accurate and detailed insights. The housing market is subject to various factors and can be dynamic, requiring continuous evaluation and analysis to make informed decisions.
According to the National Association of Realtors, Atlanta is expected to be the top real estate market in 2023. Among the 179 metro areas analyzed by NAR, it was the only one to meet all 10 indicators such as housing affordability, employment conditions, and population growth. The Atlanta metropolitan area continues to be more affordable than the majority of U.S. regions, with more than 20% of renters able to afford an average home purchase, according to a report.
The job market is healthy, with Apple, Microsoft, and Visa among the major West Coast tech corporations opening offices. Consequently, the region experiences huge migration gains and rapid population growth, leading to a surge in housing demand. According to the Atlanta REALTORS® Association, it is still a seller's market, so sellers who have waited or are prepared to sell can still realize profits over the previous year.
Is Atlanta a Seller's Housing Market?
The following Atlanta housing market trends are based on single-family, condo, and townhome properties listed for sale on realtor.com. Land, multi-unit, and other property types are excluded. This data is provided as an informational resource only.
Listing Prices: Realtor.com's April 2023 report shows Atlanta was more like a balanced real estate market, which means that the supply and demand of homes are about the same. A balanced market typically has a total sales to total listings ratio between 0.12 and 0.2. Markets with a ratio above 0.2 tend to favor sellers, while markets with a ratio below 0.12 tend to favor buyers. The median list price of homes in Atlanta was $429K, trending flat year-over-year while the median sale price was $400K.
Sale-to-List Price Ratio: 100%, which means that Homes in Atlanta, GA sold for approximately the asking price on average in April 2023. Ideally, a buyer would prefer a sale-to-list price ratio that’s closer to 90% while a seller would always prefer scenarios that can yield a ratio of 100% or higher.
There are around 199 neighborhoods in and around Atlanta, GA where Realtor.com has listings. Peachtree Heights West has a median listing price of $1.3M, making it the most expensive neighborhood. Venetian Hills is the most affordable neighborhood, with a median listing price of $325K.
Fulton County is home to 16 cities, including Georgia's Capital City, Atlanta. Fulton County is also a balanced housing market. In February 2023, the median list price of homes in Fulton County, GA was $439.9K, trending flat year-over-year. The median listing home price per square foot was $244. The median home sold price was $425K.
Homes in Fulton County, GA sold for approximately the asking price on average. Homes in Fulton County, Georgia sell after an average of 40 days on the market. The median days on the market in Fulton County, GA is flat compared to the previous month, but has slightly increased compared to the same period last year.
Atlanta Rental Housing Trends
About 50% of the households in Atlanta, GA are renter-occupied. Atlanta rent prices plunged during the most severe period of the coronavirus outbreak when much of the city’s economy was locked down. It is supposed to have ended eight years of steady rent growth in the Atlanta housing market. Average rents were down 2.2% from March through May for the entire metro Atlanta market. The declines were sharpest in areas of Buckhead, Lindbergh, and Emory, Midtown but the suburban markets did not suffer much.
But the latest market reports show a fast pace recovery from the effects of the pandemic. According to Realpage.com's analysis, there's been a record apartment demand in Atlanta. The whole Georgia market claimed the nation’s top spot for apartment demand. Atlanta’s 3rd quarter demand tally of 9,008 units accounted for 87% of the market’s annual absorption in the year-ending September.
The rent prices are up whether you compare them annually or monthly. As of May 2023, the average rent for a 1-bedroom apartment in Atlanta, GA is currently $1,750. This is a 1% increase as compared to the previous year. Over the past month, the average rent for a studio apartment in Atlanta increased by 2% to $1,619. The average rent for a 1-bedroom apartment remained flat, and the average rent for a 2-bedroom apartment decreased by -2% to $2,229.
- Two-bedroom apartments in Atlanta rent for $2,229 a month on average (a 4% increase from last year).
- Three-bedroom apartment rents average $2,200 (a 10% increase from last year).
- Four-bedroom apartment rents average $2,350 (a 2% increase from last year).
The Zumper Atlanta Metro Area Report analyzed active listings across the metro cities to show the most and least expensive cities and cities with the fastest-growing rents. The Georgia one-bedroom median rent was $1,338 last month. Alpharetta was the most expensive city with one bedroom priced at $1,990 while East Point ranked as the most affordable city with one bedroom priced at $860.
The Fastest Growing Cities in The Atlanta Metro Area (Year-Over-Year)
- Rome had the fastest growing rent, up 38.7% since this time last year.
- Decatur saw rent climb 26.7%, making it the second fastest growing.
- Gainesville was third with rent jumping 18.2%.
The Fastest Growing Cities in The Atlanta Metro Area (Month-Over-Month)
- East Point rent experienced the largest monthly growth rate, up 6.1%.
- Athens was second with rent growing 4.8%.
- Gainesville was third with rent climbing 3.2%.
Atlanta Housing Market Forecast 2023-2024
Atlanta has been one of the hottest real estate markets in the country for years. It is also one of the hottest real estate markets for investing in rental properties. Population growth has had a positive impact on the housing market in Atlanta. Nearly 285,000 people moved to Georgia in 2019, according to the most recent data from the U.S. Census Bureau.
This migration has made possible the state's consistent ‘best state for business' rankings. Area Development magazine named Georgia No. 1 for business – for seven straight years (2014-20). Nine out of 10 Fortune 500 companies have operations in Georgia – and 18 of these have made Georgia their world headquarters.
Much of this migration is driven by the strong business environment in Atlanta and the relative affordability of the city. Its robust knowledge-based economic ecosystem attracts new talent to the city. The net migration has led to an ever-increasing demand for housing in Atlanta which cannot be met with the current pace of new construction.
The Atlanta housing market has a housing shortage which will continue to contribute to increasing prices. Atlanta home prices on average are less expensive than the national average. Despite being below the national average, Atlanta home prices have more than doubled since 2012, and are projected to continue increasing.
According to a report released by the National Association of Realtors in December, Atlanta will be the nation's leading real estate market in 2023. Atlanta topped the association's list of markets to watch in 2023 based on its performance in 10 key indicators, such as housing affordability, employment conditions, and population growth, relative to the national average.
Let us look at the price trends recorded by Zillow over the past year.
- Atlanta-Sandy Springs-Roswell Metro home values have gone up 2.2% over the past year.
- The Atlanta Metro housing market forecast ending with April 2024 is positive.
- Zillow predicts that Atlanta MSA home values may grow by 5.3% between April 2023 to April 2024.
- This figure corroborates N.A.R.'s forecast, which also predicts that home prices in this region are expected to grow in 2023.
The Atlanta housing market has shown resilience and steady growth over the past year. As of April 30, 2023, the average home value in the Atlanta-Sandy Springs-Roswell area is $366,592, reflecting a 2.2% increase compared to the previous year. This upward trend in home values indicates a healthy market with positive growth prospects.
Looking ahead, the market forecast for the next year is promising. Experts predict a 5.3% increase in home values, suggesting continued appreciation in the Atlanta housing market. This forecast indicates favorable conditions for homeowners, as their properties are expected to gain value over time.
Furthermore, the median sale-to-list ratio of 0.993 as of March 31, 2023, signifies that homes in Atlanta are selling very close to their listed prices. This ratio indicates a balanced market where sellers are achieving their desired prices, while buyers are still finding reasonable prices.
When it comes to market dynamics, it is notable that 22.9% of sales in Atlanta were above the list price as of March 31, 2023. This statistic indicates that buyers may need to compete in certain segments of the market, potentially leading to bidding wars and driving prices higher. Conversely, 53.1% of sales were below the list price, suggesting that there is still room for negotiation and opportunities for buyers to find properties at a lower price point.
Another important metric to consider is the median number of days it takes for a home to go pending. As of April 30, 2023, the median days to pending in Atlanta stands at 15. This relatively short timeframe highlights a fast-paced market, where homes are going under contract quickly.
Overall, the Atlanta housing market forecast indicates a positive outlook for both buyers and sellers. Home values are expected to continue appreciating, providing potential gains for homeowners. Buyers may face competition in certain areas but can still find opportunities to negotiate favorable prices. The relatively short median days to pending demonstrate a market with high demand and quick turnover.
Will Atlanta Housing Prices Go Down?
These numbers can be positive or negative depending on which side of the fence you are — Buyer or Seller? The constraint on available inventory is keeping the Atlanta real estate market skewed to sellers. Atlanta and the entire metro area market is hot that it cannot shift to a complete buyer’s real estate market, for the long term. The Atlanta real estate market benefits from a large and robust economy.
According to the data insights provided by the Bureau of Economic Analysis, the Atlanta metro area was the tenth-largest in the U.S. and among the top 20-largest in the world (in 2020). The housing demand in Atlanta is still high across the 11-county metro area. To counter the effects of this ongoing crisis, FED did an emergency rate cut which put rates at their lowest level in the last 50-year span.
In a balanced real estate market, it would take about five to six months for the supply to dwindle to zero. In terms of months of supply, Atlanta can become a buyer’s real estate market if the supply increases to more than five months of inventory. And that’s not going to happen. This housing market is skewed to sellers due to a persistent imbalance in supply and demand. The current inventory stands at around 2 months which favors property sellers.
Whether you’re looking to buy or sell, timing your local market is an important part of real estate investment. For buyers in Atlanta, the mortgage rates were at their lowest last year, so they took advantage of scooping up their favorite deals which otherwise were taken away by seasoned investors in the bidding wars.
The rising interest rates are already leading to a decrease in mortgage applications. If you are still able to purchase a property whether for investment or personal, we would recommend you do so sooner rather than later because it will only get harder down the road as they make access to credit even more difficult later on. Keep leveraging the credit while you still can and have that money work for you.
Atlanta Real Estate Investment: Where To Buy Atlanta Rental Properties?
Is Atlanta real estate overvalued? Let’s talk a bit about Atlanta and the surrounding metro area. Atlanta is a minimally walkable city in Fulton County with a population of approximately 524,000 people. Atlanta is currently growing at a rate of 1.67% annually and its population has increased by 24.78% since the most recent census, which recorded a population of 420,003 in 2010. Atlanta reached its highest population of 524,067 in 2021.
In 2013, its metropolitan area surpassed the 5.5 million mark for the first time. While growth is slower than it was in the 1990s and early 2000s, it is faster than the previous year and is expected to continue as Atlanta attracts new residents.
Atlanta has a mixture of owner-occupied and renter-occupied housing units. According to Neighborhoodscout.com, a real estate data provider, one and two-bedroom large apartment complexes are the most common housing units in Atlanta. Other types of housing that are prevalent in Atlanta include single-family detached homes, duplexes, rowhouses, and homes converted to apartments.
The Atlanta real estate market has had steady growth over the past several years which makes it a great place to live as well as invest in. Located in the state of Georgia, the city of Atlanta is a hotspot for any type of real estate investing. It is a city with an incredible amount of upside.
The cost of living in Atlanta is reasonable when compared to other big cities like Los Angeles or New York. Everybody loves the low cost of living in Atlanta but the students especially appreciate it making it one of the top rental markets in the United States. This factor alone draws young professionals priced out of those pricier markets.
If you are a savvy investor, you must be aware of the fact that Atlanta real estate has a record of being one of the best long-term investments in the nation. As an investor, you can buy a fully renovated turnkey rental property in Atlanta. It would be the best option for novice real estate investors looking for a steady rental income. Atlanta is a favorite place to live in for millennials who prefer renting over owning.
In the last five years, Atlanta’s job growth averaged 2.3 percent annually, outpacing the national average of 1.6 percent. The attractive cost of living and a multitude of jobs in various industries has made Atlanta one of the hottest residential and labor markets in the country. It continues to grow in terms of population and employment. The population of Atlanta is predicted to reach 8 million by 2040, according to a survey conducted by the Atlanta Regional Commission.
This will further increase rental demand in Atlanta. Atlanta is Georgia’s capital and economic center. It is considered one of the 10 most productive states that contribute to the USA’s GDP annually. As the city continues to go through an economic boom, prices of turnkey properties in Atlanta are forecasted to increase in the following years. People will want to beat out the competition and purchase soon if they’re looking to develop a successful career, surrounded by a diverse community, especially for today’s youth.
Atlanta has shown promising population growth and employment, which are two signs of a healthy real estate market. In the Atlanta metropolitan area, the leisure and hospitality industry had the largest employment gain from October 2018 to October 2019, up 14,700, or 4.9 percent. Local job gains occurred primarily in the food services and drinking places subsector (+11,400). Nationwide, employment in the leisure and hospitality industry rose 2.3 percent over the year.
Top Reasons To Invest In The Atlanta Real Estate Market? |
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Let’s take a look at some of the best suburbs in Atlanta that you might want to consider looking into. Here are the best neighborhoods in Atlanta, which have an overall Niche grade of A or A+ from Niche.com. We’ll be taking a look at some of the important details of these neighborhoods of Atlanta: from population to crime rates to average real estate prices. If you want to buy a house or an Atlanta rental property for sale, then this list of some of the best suburbs in Atlanta is for you. It may help you in selecting the best and safest neighborhoods in Atlanta for your next investment property.
Buckhead Heights, Atlanta, GA
The urban neighborhood of Buckhead Heights has a population of roughly 2,130 people. Residents have been ranked as A, based on ethnic and economic diversity, with many of its residents having bachelor’s or master’s degrees. The average resident earns approximately $93,009. However, the cost of living falls into a grade of B. There are at least 23 public schools that serve this neighborhood; three having ranked as A-. They are the Smith Elementary School, and the Atlanta Neighborhood Charter School for Elementary, and Middle school.
Public education is given the grade of B. Crime rates are pretty low in this area as it is given the grade of B. In the category of violent crimes, only 47 cases of robberies are reported per year. Unfortunately, the Buckhead Heights neighborhood has some property crime cases. The median value of the homes in this neighborhood is $296,500 and the median rent is $1,809. About 59% of the residents like to rent in this neighborhood.
Hanover West, Atlanta, GA
Located in the northern part of Atlanta, Hanover West was deemed the #1 best neighborhood in the city by neighborhood and school-rating website Niche. With a population of roughly 2,930 people, most residents appear to be young adults with bachelor’s degrees. Regarding ethnic and economic diversity, Niche.com rates Hanover West at a grade of B. Moreover, Hanover West Atlanta has been considered to be one of the safest neighborhoods, with few to no recorded violent crimes in the past year. On average, Hanover West has seen 63 burglary and theft incidents per 100,000 residents.
With about 13% of its population being children, there are about 23 public schools around the area. School ratings average at a B, with the best performing public schools being the Atlanta Neighborhood Charter School for Kindergarten through 8th grade. Its middle school campus is ranked #1 as the best charter school in Georgia. The median value of homes in this neighborhood is around $298,736, while rent prices are approximately $1,190. These rates are considerably worth more when compared to the national average home value and rent prices which are $184,700 and $949, respectively.
Collier Hills North, Atlanta, GA
The lovely neighborhood of Collier Hill North has a population of 3,561 and has a grade of A- regarding ethnic and economic diversity. The median household income of this area is calculated to be $68, 569, and approximately 36% of residents have obtained a bachelor’s degree. Niche.com gave public school education a grade of B-. Of the 23 public schools in this area, two are graded A-. Additionally, Collier Hills North is one of the safest neighborhoods on this list as it is given a grade of A+.
There are no reported violent crimes in the area, and only an average of 52 petty crimes are committed under the theft and burglary category. The cost of living is known to have a grade of B-. The median home value in Collier Hills is $715,177. Collier Hills' home values have gone up 2.4% over the past year and Zillow predicts they will fall -1.3% within the next year. The median cost of rent is approximately $1,289, higher than the national average of $949. Most residents have chosen to buy their homes, instead of rent. Collier Hills is one of the best suburbs to invest in the Atlanta real estate market.
Brookwood, Atlanta, GA
A more extensive neighborhood, Brookwood Atlanta consists of 6,046 people with children compromising 5% of the total population. 48% of its residents are noted to obtain bachelor’s degrees. Regarding median household income, residents of Brookwood earn an outstanding $74,057 annually. It has a grade of A for ethnic and economic diversity. On the other hand, the grade of public school education in this area is a B-. However, among the 26 schools that serve this area, five public schools have a class of at least A.
The Grady High school, Atlanta Neighborhood Charter School of both the Elementary and Middle school campuses receive a grade of A. The Inman Middle School and Springdale Elementary School both received a grade of A-. Brookwood Atlanta has been given a grade of A- regarding crime and safety. In terms of violent crimes, 19 cases of robbery are estimated to occur per 100,000 in a year. However, Brookwood has many instances of petty crimes in its neighborhood.
Despite these grades, Brookwood Atlanta has a median home value of $349,879 and a median rent of $1,432. Given those estimates, it is not a surprise to find that 61% of its resident choose to rent their homes whereas only 39% own their houses. Due to the high population of renters, the Brookwood neighborhood is a great choice to invest in Atlanta rental properties.
Cross Creek, Atlanta, GA
Cross Creek's neighborhood has located near the Atlanta Memorial Park, with a population of approximately 2,143 residents. In the past year, the website Niche.com has rated it as one of the best places for millennials in the Atlanta area. The neighborhood boasts a high diversity rating based on ethnicity and economic status. Most residents appear to be young adults and adults up to 30 years old with bachelor’s degrees. Only 9% of its population is children.
Cross Creek was given a crime & safety rating of B by Niche.com. Per 100,000 residents, there have been some violent crimes, although all below the national average. As for its motor vehicle theft cases, the neighborhood appears to have a higher-than-average count of 511 cases, compared to the national average of 263.
That being said, Cross Creek housing was given a rating of A-, with its median home value being estimated at $192,795. while the median rent is $1,369. Surprisingly, statistics show that homeowners and renters are split in the area at exactly 50% for both. It is also considered to be a good place to live in Atlanta. Investing in Atlanta rental properties in this neighborhood would be a good investment decision.
Hills Park, Atlanta, GA
Hills Park is another good neighborhood of Atlanta with a population of approximately 54,152. Similar to the other neighborhoods, most of the residents in Hills Park Atlanta have obtained a bachelor’s degree, having a percentage of 45%. White-Collar employment amounts to 86.47 %. The median household income of this area is $47,918. Public school education is given a rank of B-, with 30 public schools serve this area. Among these selections, four schools are given a grade of A- and above.
Grade High School has the highest rank regarding the quality of education with a degree of A. The three remaining schools receive an A-. Hills Park is rated B+ on crime and safety. Only 84 cases of robbery are reported per 100,000 residents in one year. However, a considerable number of petty crimes occur in this area, the majority of them falling under the category of theft.
Nonetheless, it is known as a safe neighborhood among folks. Hills Park Atlanta has a median home value of $305,162. and the median rental price of homes in this area is $1,526. Even so, the majority of residents choose to own their homes. 52% of its residents own their homes, while 48% are renting them. Hills Park is one of the best places for living in Atlanta and can be chosen for investing in rental properties.
Midtown Atlanta, GA
Midtown Atlanta is the second-largest business district in the city of Atlanta, situated between the commercial and financial districts of Downtown to the south and Buckhead to the north. Midtown is home to some of Atlanta's priciest apartments. It is a large area of Atlanta immediately north of Downtown with many sites and activities. The skyscraper district aligns with Peachtree Street. To the east of Peachtree Street is Piedmont Park, and to the west are Atlantic Station and the Georgia Tech campus area. With a population of 22, 539, the neighborhood of Midtown Atlanta is the largest in terms of population.
Only 5% of the total population are children. Like the other neighborhoods, people with a bachelor’s degree are the largest among education levels, consisting of 38% of the population. The middle-class household income in this area is $74,194, which is considerably lower compared to the other neighborhoods. Ethic and economic diversity are graded A. Public school education receives a grade of B-. 28 public schools serve this neighborhood, and six of them have been given a grade of A- and higher. Grady High School boasts the highest grade received, which is A. The remaining schools all receive A-.
Unfortunately, Midtown Atlanta has a low score on the crime and safety portion. With a grade of C, the neighborhood has a lot of recorded violent and property crimes. Nonetheless, residents claim that Midtown is the “pulse of the city”, highlighting that living here is a great experience. Likewise, it gained a high rating in the nightlife category. With these ratings, the median home value of this Midtown Atlanta is at $355,944 and the median rental price is $1,444. 55% of its population chose to rent their homes, while the remaining 44% own them. According to Zillow, Midtown Atlanta's home values have gone up 2.4% over the past year. Therefore, Midtown can be considered for investing in Atlanta rental properties.
Candler Park, Atlanta, GA
Candler Park is a city park located at 585 Candler Park Drive NE, in Atlanta, Georgia. According to Wikipedia, it is named after Coca-Cola magnate Asa Griggs Candler, who donated this land to the city in 1922. Candler Park Atlanta is another large neighborhood regarding population. According to Point2homes.com, the total population of this neighborhood is 19,652. Similar to the other neighborhoods, public school education in this Candler Park Atlanta has a score of B from Niche.com. Among 26 public schools that serve this area, six of them have a rating of at least A-.
Grady High School has a grade of A, making it the highest quality public school in the area. The other schools are graded with a score of A. Regarding crime and safety, Candler Park Atlanta fares as well as Midtown. It has a grade of C+ and many recorded cases of violent and property crimes. A review indicated that in the case of reported criminal activity, police officers are quick to respond. Its median home value is the second-highest on the list, which is estimated to be $450,226. On the other hand, the median rent in this area amounts to $1,222.
The median household income is $100,885. The majority of the residents own their houses, consisting of 60% of the population. The remaining 40% choose to rent their homes. Given the fact that Candler Park is ranked among the best places to live and raise a family in Atlanta, we recommend this neighborhood for investing in rental properties for the long term. According to Zillow, Candler Park home values have gone up 3.6% over the past year.
North Buckhead, Atlanta, GA
North Buckhead Atlanta is a neighborhood in the Buckhead district, at the northern edge of the city of Atlanta, Georgia, and is one of Atlanta's most affluent neighborhoods. North Buckhead Atlanta is also the second-largest neighborhood in terms of population. It has a population of 10,848, according to Point2homes.com. Despite its large community, it has a grade of A- regarding ethnic and economic diversity on Niche.com.
North Buckhead is an uptown commercial and residential district of Atlanta, Georgia. It mostly consists of large single-family homes that are situated among dense forests and rolling hills. As far as crime is considered, much of Buckhead is considered to be safe, except for the Lindbergh neighborhood.
North Buckhead Atlanta has a higher score on the portion of public school education quality. With a grade of B, 35 public schools serve this area. Though only six of them have a rating of A-. These schools are Atlanta Neighborhood Charter School, The Main Street Lower Academy, Riverwood International Charter School, Smith Elementary School, and Jackson Elementary School. The crime and safety portion has a bit lower score of B-. The area has numerous reported cases of violent and property crimes.
Nonetheless, reviewers describe the region as a “truly great place to live, work, and play.” North Buckhead Atlanta has the highest median home value on the list with $588,242. The median rent price is $1,474. The median household income of people in this area is $134,673. Even so, 53% own their homes while 47% rent them. That's almost half of the total population. North Buckhead home values have gone up 0.2% over the past year and Zillow predicts they will fall -2.3% within the next year. Although the home prices are quite high, this neighborhood is currently a buyer's market and this is the right time to invest in a property.
North Springs, Atlanta, GA
North Springs is a quiet neighborhood and has amazing proximity to everything you could want. It is located in the famous city of Sandy Springs which is the most expensive neighborhood in Atlanta. It is a city in northern Fulton County, Georgia, United States, and part of the Atlanta metropolitan area. Both The North Springs and Sandy Springs Stations were opened on December 16, 2000, as part of MARTA's most recent expansion, adding two more stations north of the Dunwoody Station.
The market temperature is neutral at the moment. It is a balanced real estate market. The median home value in Sandy Springs is $512,458. Sandy Springs home values have gone up 2.3% over the past year and Zillow predicts they will fall -2.0% within the next year. The median household income is around $84,000 and a40% of the population like to rent a house in this neighborhood of Atlanta.
Purchasing the best investment properties in Atlanta appears to be on the pricier end. However, this is because you’re also purchasing other positive aspects of the estate such as security, and community diversity. You’re paying for quality real estate in Atlanta when you decide to buy investment properties in the neighborhoods listed above. One disadvantage may come from families looking for premier schools for their children. Most of the schools surrounding the neighborhoods listed in this article are given ratings of B on Niche.com. Considerably, it may be a not so good decision for parents who want their children to attend the best schools in the country.
That being said, Atlanta appears to be a wise choice of city for the youth. In many of the above-mentioned neighborhoods, their residents seem to be young adults, based on their educational attainment. Likewise, Atlanta has come to be a bustling economic center. This is an advantage for people looking to begin or improve their careers. Good cash flow from Atlanta rental property means the investment is, needless to say, profitable. On the other hand, a bad cash flow means you won’t have money on hand to repay your debt. Therefore, finding a good Atlanta real estate investment opportunity would be key to your success.
When looking for real estate investment opportunities in Atlanta or anywhere in the country, the generally accepted standard is to purchase a property that will give you a modest but minimum 1% profit on your investment. An example would be: at $120,000 mortgage or investment cost, $1200 per month rental. That would be the ideal equation for example. Even with rent increases, buying a $500,000 investment property in Atlanta is not going to get you $5000 per month on rent.
When looking for the best real estate investments in Atlanta, you should focus on neighborhoods with relatively high population density and employment growth. Both of them translate into high demand for housing. If housing supply meets housing demand, real estate investors should not miss the opportunity since entry prices of homes remain affordable. The neighborhoods in Atlanta must be safe to live in and should have a low crime rate.
The neighborhoods should be close to basic amenities, public services, schools, and shopping malls. A cheaper neighborhood in Atlanta might not be the best place to live in. A cheaper neighborhood should be determined by these factors – Overall Cost Of Living, Rent To Income Ratio, and Median Home Value To Income Ratio. It depends on how much you are looking to spend and if you are wanting smaller investment properties or larger deals in Class A neighborhoods.
Atlanta, Georgia Real Estate Investment Opportunities
Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.
NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your investment property in Atlanta.
Consult with one of the investment counselors who can help build you a custom portfolio of Atlanta turnkey properties. These are “Cash-Flow Rental Properties” located in some of the best neighborhoods of Atlanta.
Not just limited to Atlanta or Georgia but you can also invest in some of the best real estate markets in the United States. All you have to do is fill up this form and schedule a consultation at your convenience. We’re standing by to help you take the guesswork out of real estate investing. By researching and structuring complete Atlanta turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability.
Georgia's real estate market is a great place to invest in real estate. You can also invest in Savannah real estate market. Savannah, Georgia is separated from South Carolina by the namesake Savannah River. This means the Savannah housing market includes quite a few people living in South Carolina. The Savannah real estate market includes roughly 350,000 people. This makes it the third-largest metropolitan area in Georgia. If you take the de facto suburbs on the Carolina side, these small towns put half a million people in the larger Savannah metro area.
Georgia is bordered to the north by Tennessee and North Carolina, to the northeast by South Carolina, to the south by Florida, and to the west by Alabama. All of these states have some of the best real estate markets where you can buy rental properties.
Charlotte is one such place that we would recommend. Charlotte is the largest city in North Carolina. The city proper is home to more than 800,000 people. The Charlotte Metropolitan Statistical Area is even larger – home to roughly two and a half million people.
It is one of the country’s fastest-growing metro areas, and it was the second fastest-growing city in the southeastern United States. Buying real estate in Charlotte is a good investment, depending upon several factors.
There are so many major companies and professional sporting events that people will always be interested in residing here. Therefore, interested investors aren't likely to allow the listing prices to get too low before they swoop in and take advantage.
On the west of GA is the state of Alabama. Birmingham, Al has seen an upward trend in terms of its population growth. One factor that has led to this increase is its rich nature of mountainous ridges and a good share of physical scenery.
Since its year of discovery, the city has been an educational center of the state of Alabama and has been the favorite destination of many educational aspirants who come here to seek the careers of their choice. Hundreds of schools have been set up in the city of Birmingham and several top-notch universities.
The city's ever-growing population shows a need for real estate investments and developments for the good of the new growing population. There are several good reasons to invest in Birmingham properties.
Let us know which real estate markets in the United States you consider best for real estate investing!
Remember, caveat emptor still applies when buying a property anywhere. Some of the information contained in this article was pulled from third-party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified through the references given below. As a general policy, Norada Real Estate Investments makes no claims or assertions about the future housing market conditions across the US.
References:
Market Prices, Trends & Forecasts
https://www.gamls.com/statistics
https://www.atlantarealtors.com/
https://www.zillow.com/atlanta-ga/home-values
https://www.atlantarealtors.com/Resource-Center/abr-market-brief.aspx
https://www.realtor.com/realestateandhomes-search/Atlanta_GA/overview
https://www.realwealthnetwork.com/markets/atlanta-georgia
http://www.metrodepth.com/atlanta/
http://www.justluxe.com/travel/atlanta-news__1899269.php
https://www.bizjournals.com/atlanta/news/2020/06/15/metro-atlanta-housing-sales-tumble-37-may.html
https://atlanta.curbed.com/2020/3/17/21182334/coronavirus-atlanta-home-buying-real-estate-covid-19
Foreclosures
https://www.realtytrac.com/statsandtrends/ga/fulton-county/atlanta
Neighborhoods & Statistics
https://www.niche.com/places-to-live/search/best-neighborhoods/t/atlanta-fulton-ga
https://www.homesnacks.net/richest-neighborhoods-in-atlanta-128964
https://www.point2homes.com/
https://www.zillow.com/
