Whether you’re looking to buy or sell, timing your local market is an important part of real estate investment. This article has been updated to reflect recent changes in the Atlanta real estate market due to the coronavirus pandemic. The single-family residential housing market in metro Atlanta got impacted by the pandemic with home sales plummeting from April onward. There was a significant reduction of 25.8% in sales for April as compared to last year’s numbers. According to the latest report from Atlanta REALTORS® (ARA), residential sales continued to decrease in May as well.
Home sales dropped by 36.8% from the previous year whereas average and median sales prices continue to gain saw positive gains. The median sales price in the Metro-Atlanta housing market in May was $291,000, an increase of 0.3% from last May. While Atlanta housing prices remain almost steady as compared to last year, the decline in sales reflects the impact of the shelter-in-place order that Metro Atlanta residents had to follow. It is expected that this trend would continue to affect the overall sales for the next few months until the pandemic is over.
The latest “ATLANTA HOUSING MARKET REPORT” is given below.
Let’s talk a bit about Atlanta and the surrounding metro area before we discuss what lies ahead for investors and homebuyers. The Atlanta real estate market has had steady growth over the past several years that make it a great place to live as well 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.
You can purchase investment properties in Atlanta for as low as $127,000. Comparing that to the national average, which is $152,000, that’s a pretty significant deal! The real estate appreciation rate in Atlanta in the latest quarter was around 2.9% which equates to an annual appreciation rate of roughly 11% to 12.5%. Even small changes in the appreciation rate can change the long-term value of buying considerably. Please note that the price appreciation forecast has now changed due to the Covid-19 pandemic. More details are given below.
Top Reasons To Invest In The Atlanta Real Estate Market?
Atlanta is one of the Top Rental Markets in the U.S.
Home prices are less expensive than the national average.
Newly renovated turnkey properties with tenants.
Properties starting at $70,000.
Up to $750/mo in cash flow.
500 people move to Atlanta every day!
8 million people expected by 2040 (Atlanta Regional Commission).
3-year appreciation forecast of 9.3%.
Key industries include Health Care, Professional, Scientific, Technology & Logistics.
Local Rate of Employment Growth Above the National Average (Bureau of Labor Statistics).
Atlanta is one of the five markets poised to eclipse Silicon Valley as a national center of technology growth (Forbes).
Atlanta Housing Market Trends & Statistics 2020
Is Atlanta real estate overvalued? We shall now discuss some of the most recent housing trends in the metro Atlanta area and compare it with the past couple of years. We shall mainly discuss median home prices, inventory, economy, growth, and neighborhoods, which will help you understand the way the local real estate market moves in this region. Atlanta has been one of the hottest real estate markets in the country for many years.
Atlanta is a minimally walkable city in Fulton County with a population of approximately 419,590 people. In the past ten years, the annual real estate appreciation rate has amounted to 4.40% in Atlanta, according to NeighborhoodScout.com. As you know, the COVID-19, a disease caused by a novel coronavirus, has impacted the whole world, and the U.S. is no exception.
With social distancing becoming a way of life across the country, Atlanta’s tourism industry is expected to take a considerable hit in light of this deadly pandemic. Many big events like the NCAA basketball tournament have already been canceled to avoid spreading of infection among huge crowds. The local businesses are feeling the brunt of the outbreak, too. The economy is bound to be hit in the short term. However, Atlanta’s housing market is not getting affected.
Impact of COVID-19 on The Atlanta Housing Market
The housing market in Atlanta experienced a 25.8% decline in sales for April as compared to last year. New listings dropped by 32.2% compared to April 2019. April’s new listings decreased more than 18% compared to March’s new listings as sellers decided to back out in this crisis. Housing inventory in the metro Atlanta area housing market decreased by 13.4% from April 2019. In Fulton County, there were 744 units sold in April at a median price of $405,000 and an average price of $506,000.
Total homes sales in May in the 11 counties of metro Atlanta dropped by 37%. The drop in May was steeper than the 25.8% decrease recorded in April. The median sales price in May was $291,000, an increase of 0.3% from last May. The average sales price was $351,000, down 0.6% from the previous year’s average of $353,000. As you can see the Atlanta housing prices are holding strong with hardly any decline due to ongoing pandemic. However, compared to last month (April), the median sales price dropped by 3.6% and the average price dropped by 3.3%.
Below is the latest report of the “Metro Atlanta Housing Market.” The source of this report is the Atlanta REALTORS® Association (ARA).
The report compares the 11-county metro area’s housing metrics from May 2020 with May 2019.
May residential sales were at 4,085, a decrease of 36.8% from the previous year.
Average and median sales prices continue to gain traction and outpace 2019’s figures, with positive gains.
The median sales price in May was $291,000, an increase of 0.3% from last May.
The average sales price was $351,000, down -0.6% from the previous year.
Atlanta area housing inventory totaled 11,313 units in May, a decrease of 23.7% from May 2019.
New listings totaled 3,915, down 35.8% from May 2019 and up 5.4% from the previous month.
The month’s supply over 12 months decreased to 2.3 months.
Monthly Comparison
Metro Atlanta Housing Statistics
May-20
Apr-20
% Change
Total Home Sales
4,085
4,297
-4.90%
Median Sales Price
$291,000
$302,000
-3.60%
Average Sales Price
$351,000
$363,000
-3.30%
Screenshot Courtesy of Atlanta REALTORS®
Atlanta Real Estate Market Forecast 2020 – 2021
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. What are the Atlanta real estate market predictions for 2020? Atlanta home prices on average are less expensive than the national average of $230,000. Despite being below the national average, Atlanta home prices have more than doubled since 2012, and are projected to continue increasing. Let us look at the price trends recorded by Zillow over the past few years. Since 2015, the median home prices in Atlanta have appreciated by roughly 63% from $184,000 to $299,308.
The Zillow Buyer-Seller Index (BSI) shows that Atlanta is currently a cool buyer’s real estate market. This is computed monthly. According to their index, there exists a general lack of demand in Atlanta, and homes can linger on the market longer and ultimately sell for less, putting negotiating power in the hands of buyers. In other words, based on the last month’s key housing market indicators, current supply is exceeding the demand, giving buyers an advantage over sellers in price negotiations. When there are more homes available for sale than buyers to purchase them, those buyers are enjoying a cold market.
Atlanta home values have gone up 3.4% over the past year and Zillow predicts they will fall within the next year. The latest Atlanta real estate market forecast is that the home prices may decrease by 1.5% – in the next twelve months. It may be perhaps due to COVID-10 that has led to a situation in which supply exceeds demand, giving purchasers an advantage over sellers in price negotiations. That’s how the prices remain flat or drop.
Here is the visual representation of historical Atlanta home prices and the latest forecast until March 2021.
Graph Credits: Zillow.com
Below is a home price forecast for Atlanta Metropolitan Statistical Area (MSA) for the next 60 months.
6.3%
9.3%
12.5%
15.7%
Next 24 Months
Next 36 Months
Next 48 Months
Next 60 Months
Graph Showing Median Home Price Trend in Atlanta, GA
From Realestate.com and Altosresearch.com
Graph Showing Average Days on Market in Atlanta, GA
Here is a short and crisp Atlanta housing market forecast for the 3 years ending with the 3rd Quarter of 2021. The accuracy of this forecast for Atlanta is 85% and it is predicting a positive trend. LittleBigHomes.com estimates that the probability of rising home prices in Atlanta is 85% during this period. If this price forecast is correct, the Atlanta home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018.
The change in home prices for Atlanta-Sandy Springs-Roswell, GA are shown above for five time periods. Atlanta real estate appreciated 2.87% in the Last Quarter. At that rate, the Atlanta Real Estate Market was ranked 79th out of 381 metropolitan Real Estate Markets. Atlanta was in the 79th percentile. So Atlanta, GA performed better in the Last Quarter than 79% of the 381 metropolitan areas covered in LittleBigHomes.com.
Time Period
Atlanta Metropolitan Area Real Estate Appreciation
Last Quarter
2.87%
Last Year
10.5%
Last 5 Years
51%
Last 10 Years
28%
Last 20 Years
83%
The question now is what happens moving forward. Is Atlanta is going to remain a seller’s real estate market amid the ongoing Coronavirus pandemic, which no one knows when it is going to end? These numbers can be positive or negative depending on which side of the fence you are — Buyer or Seller? While many have lost jobs, making them ineligible for a home mortgage, some sellers have taken their homes off the market. The decrease in the number of active listings indicates that new sellers are still not willing to put their homes on the market until the pandemic or its threat is completely over.
At the same time, the industry is adapting to the current environment by conducting business using technologies such as virtual showings and e-signing to help buyers and sellers with their housing needs in the face of these challenges. While some economic activity will resume as the state gradually reopens, the housing market is expected to remain sluggish for the next couple of months until the economy opens up completely. Sellers, brokers, and homebuyers seem to be adjusting to restrictions imposed on the real estate industry because of the coronavirus pandemic.
The constraint on available inventory and a decline in new listings is keeping the Atlanta real estate market skewed to sellers. Atlanta and the entire 11-county metro area market is so 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 (as of 2020). The housing demand in Atlanta is still high, according to online real estate brokerage SimpleShowing. 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.
The low-interest rates are already leading to an increase in mortgage applications. Buyers looking to this opportunity to invest or buy a house. Low-interest rates coupled with Atlanta’s solid job market could be a boon for the local real estate market even in the time of the Covid-19 pandemic. Keeping aside the short-term effects of Covid-19 which would hopefully end, the Atlanta housing market is strong. There are no signs of weakness in the Atlanta real estate prices.
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 persistent imbalance in supply and demand.
We think Atlanta would be a balanced real estate market for the remainder of this year. Sales are likely to decline over the coming months as well, especially if the metro areas continue to struggle with a sharp rise in coronavirus cases. In the current cycle, the home prices may remain flat or drop a bit in the coming months to favor buyers. That was a much-awaited condition for homebuyers who cannot afford a home in the median price.
This means you can probably buy a home for less than list price, and the seller might be willing to pay some or all of your closing costs. If buyer demand eases, we could see a positive influence on the low inventory of Atlanta while at the same time seeing a negative impact on sales. 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 inventory is relatively increasing & mortgage rates are at their lowest. Currently, the inventory remains relatively higher in Atlanta due to COVID-19. There are more homes for sale than there are buyers and homeowners are becoming more and more eager to sell their property. There could be a slump in the Atlanta real estate market in 2020. However, with a strong economy and an increasing inventory of homes for sale, it could be a great time for home buyers.
Atlanta home prices are predicted to remain flat or fall by one to two percent during the next twelve months. Also, if listings linger on the market for longer, buyers have a special edge in negotiating sales prices. As a result, buyers who enter the market at this should have more options than usual when it comes to choosing a property. So they should take advantage of scooping up their favorite deals which otherwise are taken away by seasoned investors in the bidding wars.
Nationally, the housing market is heating up with an increase in home buying despite the COVID-19 pandemic. The real estate sector has been one of the most resilient areas of the economy during the severe economic shutdown. The latest housing market trend to be seen is that the lack of supply is leading to a decline in existing home sales even though new home sales have jumped nearly 13% year over year.
Please do not make any real estate or financial decisions based solely on the information found within this article. Real estate market forecasts given in this article are just an educated guess and should not be considered financial advice. Many variables could potentially impact the value of a home in Atlanta in 2020 (or any other market) and some of these variables are impossible to predict in advance. Real estate prices are deeply cyclical and much of it is dependent on factors you can’t control.
Atlanta Real Estate Market: Where Can You Find Homes For Sale?
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.
At the national level, the single-family rental homes have grown up to 30% within the last three years. Almost all the housing demand in the US in recent years has been filled by single-family rental units. With 2020 being, theoretically, in the middle of a boom, there are still 4 years for residential construction to surge. Most likely, a housing shortage will remain in 2020, keeping home prices high.
Currently, there are 1749 homes for sale in Atlanta on Zillow, an online real estate database company. Additionally, there are 353 homes for rent. Under potential listings, there are about 8 Foreclosed and 323 Pre-Foreclosure homes. These are the delinquent properties that may be coming to the market soon but are not yet found on a multiple listing service (MLS).
The median list price per square foot in Atlanta is $235, which is higher than the Atlanta-Sandy Springs-Roswell Metro average of $133.
The median price of listings is $319,000.
The median sold price in March was $275,300.
The gap in the two median prices shows that homes were selling way below than what the sellers were demanding.
The median rent price in Atlanta is $1,795, which is higher than the Atlanta-Sandy Springs-Roswell Metro median of $1,500.
There are currently 7401 homes for sale and 2168 homes for rent in Atlanta, GA on Realtor.com, a real estate listings website. As we write this, the newly listed homes on Realtor.com are 617. According to their statistics, in June 2020, the Atlanta housing market was a balanced real estate market, which means there was a healthy balance of buyers and sellers in the market.
The median list price of homes in Atlanta, GA was $349.9K, trending up 1.4% year-over-year. The median listing price per square foot was $220. The median sale price was $305K. Ideally, a buyer would prefer a sale to asking price ratio that’s closer to 90%. The sellers in Atlanta have managed to hold good leverage in these negotiations in the past month. On average, they could sell homes for 99.08% of the asking price. A seller would always prefer scenarios that can yield a ratio of 100% or higher.
Graph Credits: Realtor.com
Atlanta Housing Market: Foreclosure Statistics 2020
Here are some foreclosure statistics of the Atlanta real estate market. As per the Atlanta foreclosure data by Zillow, the percent of delinquent mortgages in Atlanta is 0.9%, which is lower than the national value of 1.1%. The percent of Atlanta homeowners underwater on their mortgage is 8.8%, which is higher than Atlanta-Sandy Springs-Roswell Metro at 7.6%.
There are currently 429 properties in Atlanta that are in some stage of foreclosure (default, auction, or bank-owned) while the number of homes listed for sale on RealtyTrac is 5,381. In May, the number of properties that received a foreclosure filing in Atlanta, GA was 18% lower than the previous month and 67% lower than the same time last year.
Potential Foreclosures in Atlanta
429 (RealtyTrac)
Homes for Sale in Atlanta
5381
Recently Sold
10,396
Median List Price
$349,900 (3% rise vs Apr 2019)
According to RealtyTrac, in Atlanta, the zip code with the highest foreclosure rate is 30314, where 1 in every 2844 housing units is foreclosed. So, you’d find a lot of distressed sellers in this area and get some discounted off-market deals. 30311 zip code has the lowest foreclosure rate, where 1 in every 4310 housing units becomes delinquent.
Atlanta Real Estate Investment: Where To Buy Atlanta Rental Properties?
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 in this list as it is given the 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 of 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, Brookwood neighborhood is a great choice to invest in Atlanta rental properties.
Cross Creek, Atlanta, GA
The neighborhood of Cross Creek has located nearby the Atlanta Memorial Park, with a population of approximately 2,143 residents. In the past year, 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 it. 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 the 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 is 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 it. According to Zillow, Midtown Atlanta 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 in 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 it. 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.
Here is a snapshot that shows the median home values in some of the other popular neighborhoods in or around Atlanta.
Courtesy: Zillow
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 a 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. A bad cash flow, on the other hand, 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.
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.
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.
Is It The Right Time To Invest In Real Estate? – The national homeownership rate is on the decline for the first time since 2017. As demographics change and baby boomers retire, you’re seeing Millennials who may not be ready to buy houses. In 2018, Millennials made up about 22 percent of the population in the United States. They’re choosing to rent over buying a single-family home or an apartment. Rising home prices and shortage of starter homes have not left Millennials many choices but to delay homeownership. Moreover, it’s even harder to take out a mortgage for those who have student loan debt.
Atlanta | Georgia Real Estate Investment Opportunities
Georgia 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 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 a 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 of the factors that have 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. 100’s 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, the 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.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.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/
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