Real estate has become a popular avenue for people looking to diversify their income streams and potentially hedge against inflation. Whether you’re a seasoned pro or just getting started in investing Atlanta, GA, is certainly worth considering.
Founded in 1837, the city of Atlanta is known as a historic transportation hub that connects people to not only other parts of the U.S. but the whole of the world. This vibrant city is the capital of Georgia and is located in the heart of the state. Commonly referred to as ATL thanks to the large airport in the area, Atlanta is also a huge hub for the music and entertainment industries, which keeps the culture constantly vibrant and growing.
But what about the Atlanta real estate market? What do stats and trends look like, especially right now? Facts and figures are constantly changing, so we’ve gathered all the most up-to-date information for you.
Here are some of the top trends for January 2024 in the Atlanta real estate market:
Atlanta General Statistics
Population (city proper): 487,203 (down 2.48% since 2020)
Population (metro area): 6,222,908
Area (city proper): 135.3 sq mi
Area (metro area): 8,685.7 sq. mi.
Median Age: 34
GDP: $525.8 Billion
Unemployment rate: 3.4% (down .3% since August 2023)
Top employers: Emory University, Delta Airlines, Northside Hospital INC., Piedmont Healthcare, The Home Depot INC.
Highest paying jobs: Oral Surgeon, Anesthesiologist, Assistant Professor of Surgery, Transplant Surgeon, Physician, Interventional Pain Physician, Hospitalist Physician, Pain Management Physician, Finance Services Director, Child & Adolescent Psychiatrist
Median income (per capita): $61,617
Median income (household): $83,251
Atlanta Real Estate Market Statistics
Neighborhoods: 208
Homes for sale as of January 2024: 3,979
Median list price: $420K (down 1.08% since September 2023)
Median sold price: $415K (down 1% since September 2023)
Sale-to-list price ratio: 98.67%
Median price per square foot: $267
Median days on market: 49 (down 8% since January 2023)
Rental vacancy rate: 7.8%
Homeowner vacancy rate: 1.8%
One-year appreciation rate: .1%
Average rent: $1,813
Price-to-rent ratio: 15.72
Most expensive neighborhoods:
Neighborhood | Average Monthly Rent | Median Listing Price |
Randall Mill | ||
Club Forest | ||
Argonne Forest | ||
Arden Habersham/ Wyngate | ||
Brookwood Hills |
Least expensive neighborhoods:
Neighborhood | Median Monthly Rent | Median Listing Price |
Center Hill | ||
Rosedale Heights | ||
Carey Park | ||
Westlake | ||
Briar Glen |
Final Thoughts: Atlanta Real Estate Market Trends in January 2024
The Atlanta real estate market is constantly changing and evolving. But the potential for investors to profit is near-constant. Whether you’re an experienced real estate investor or brand new to the industry, the Atlanta real estate market could provide ample opportunity to build your portfolio.
Get Started Buying Homes With Evernest
Whether you’re purchasing one Atlanta home or one hundred, you don’t have to go it alone.
If you’re ready to buy your first (or next) investment property, here are three steps to get started today:
Subscribe to our podcast: The Evernest Real Estate Investor Podcast—for all things real estate investing, being a landlord, growing your portfolio, and more.
Find a property: Make sure you sign up for our Pocket Listings to get notified of all the deals that come across our desk daily.
Get an investor-friendly agent: We can help with that—we would love to help you buy your next rental property investment.
Source: This content was originally written and published for Evernest at Evernest.co
