Atlanta is one of the top ten largest metro areas in the United States and plays a essential role in the U.S. economy. Just this year Atlanta topped Home Union’s list as the best opportunity for single-family-rental investors. Both the Falcons and the Braves are building new stadiums in Atlanta, which will create an estimated 75,000 jobs for the city. Plus, home prices in Atlanta have not yet recovered as well as those in other markets leaving investors an opportunity to achieve higher rent due to increased rental demand.Atlanta is now being referred to as “Hotlanta,” experts say now is the best time to invest in Atlanta real estate partly because of the growth the area is experiencing. Employment is booming, the Atlanta-Sandy Springs-Roswell area is seeing the second-fastest rate of job growth in the country, according to the U.S. Bureau of Labor Statistics.
Despite the growth in the market, new home construction in Atlanta remains limited, the market is drying up. This dynamic gives sellers the upper hand, experts are still encouraging buyers to get in while they can. An expert interviewed by the Urban Land Institute for their study echoed those thoughts: “If you get into this market now, you will be ahead of the curve when new development gets fully underway.” Atlanta is in the top 20 housing markets in the country with property values expected to increase by at least 17% by 2020. The average home price in Atlanta is currently $213,000. With a population of 5,614,323 expected to grow by 4.7% in the next three years, and with a job growth expectation of 2.7% year over year, the home price growth is expected to be 8% year over year. Better yet, currently Atlanta’s housing market is undervalued by 17% making purchasing now a great investment.
The Rental Market
Atlanta is ranked fourth in the U.S. for housing affordability and cost of living.Forbes Magazine has rated Atlanta as the top rental market in the US. According to the Atlanta Journal Constitution, rents rose in 2015 by 8.1, then in 2016 by 6.5 percent and this year they are increasing again. Additionally, employers are relocating from the Atlanta suburbs to downtown.,Duluth-based NCR is cementing a major tech presence in Midtown and will bring over 5,000 jobs to Midtown Atlanta. As major companies migrate downtown, landlords can expect the demand to rise accordingly. While Atlanta developers have been building new apartments, homes, and condominiums, demand is so high that properties are being snapped up as they go to market.
The Atlanta metro area is home to over 5.5 million, it is projected to be the 6th most populated metro areas with 7.3 Million population by 2020 (US Census Bureau) Atlanta ranks as the 38th-largest in the United States, and the sixth-largest city in the southeastern region.
Growth and Returns
According to Forbes “If you’re planning to buy a home in Atlanta do it now, because prices are going up for the next few years” Atlanta’s real estate market has been one of constant growth in both the suburbs as well as the metro area over the past decade. Atlanta can grow into one of America’s top 5 metro areas because of the low cost of space, climate and friendly governments. The ability to acquire land at a reasonable cost can reduce the risk of development. The strong transportation infrastructure (roads & air) and being in the center of a dynamic area of manufacturing growth provides huge secondary development opportunities.
Management and Aftercare
In Atlanta we work with one, reliable and consistent partner who is local to the area and has been a hands-on expert in the local market for over 5 years. Our partner is one of the leading Atlanta management companies who will collect and deposit your rent, maintain and repair the property, assess and interview tenants and keep you updated on a regular basis.