Atlanta is just the city you’re looking for. Why? Well for the past couple years Atlanta’s rental market has been heating up with rents rising to overwhelming numbers. For example, in 2015 rents increased by 8.1 percent, then in 2016 by 6.5 percent over the year. Atlanta’s strong economy and continued job growth helped boost a steady growth within the Atlanta market over the last couple years. This city is known for its large growth of employment rates, which in turn has benefited real estate investors greatly.
Employment rate summary
- In the Atlanta metropolitan area the professional and business services industry had the largest employment gain from February 2016 to February 2017, up to 4.6 percent. Employment in professional and business services rose by 3 percent from the previous February nationwide.
- The leisure and hospitality industry employment increased by 6.6 percent since last February, which was considered the second-largest gain in the Atlanta area. The local growth rate for leisure and hospitality was greater than the nationwide average of 1.9 percent. Two other super-sectors in the Atlanta area grew by at least 12,000 jobs since last February.
- The area’s trade, transportation, and utilities industries have gained 13,400 jobs, up 2.3 percent; nationwide, this super-sector rose by 1 percent over the year.
- Education and health services in Atlanta added 12,700 jobs, a 3.8 percent increase which exceeded the national gain of 2.5 percent. There was no over-the-year loss of jobs among any of the major industry super-sectors for the Atlanta area ending February 2017. (Statistics are taken from the US Bureau of Labor Statistics).
Growing job market
Real estate investors should take advantage of Atlanta’s rental market because with the exponentially growing job market and ever-increasing worldwide economic impact, the demand for Atlanta rental properties is truly astounding. Atlanta’s rental market has improved greatly due to its strong job growth; rent prices have grown, thereby opening numerous opportunities for landlords and investors. So many people are moving out of the suburbs and into the city as a result of Atlanta’s this job growth. As major companies move to the city, landlords can expect the demand for luxury apartments in Atlanta city limits to rise accordingly. As Atlanta developers have been building new apartments, homes and condominiums, demand is so high that these properties should be snapped up as soon as they go to market. This massive metropolitan area attracts dozens of large corporations and industries, and thousands of employees who are transplants and commuters looking for Atlanta investment properties to rent.
Atlanta’s attractive lifestyle
Atlanta possesses very attractive housing affordability and cost of living, being ranked number 4 of the best major metropolitan area for both housing affordability and cost of living. The attractiveness of Atlanta as an affordable market makes it an ideal center point for the next wave of economic growth, as young professionals flee from highly taxed and highly regulated markets. The housing market in Atlanta has been damaged by the financial crisis, similar to most major metropolitan areas. Yet the key difference is that the strong economy of Atlanta and continued population growth has created a large population of prospective renters.
This presents an excellent opportunity for investors to capture good cash flow, excellent return on investment, and favorable location in one of the fastest growing metropolitan areas in the country. Atlanta offers the two great opportunities for a tremendous return on investment (ROI). The first is short-term cash flow on a superior investment property. The second is long-term appreciation from an investment that is located in a rapidly growing metropolitan area. There are multiple micro-markets in and around Atlanta that are very attractive at the current time. So get ready to take advantage of Atlanta’s rental market!
New construction plans
Atlanta’s also experiencing monumental construction and gentrification that is expected to create a variety of real estate investing opportunities. Many houses are being transformed from older, average looking residences to new and attractive homes for the blooming population of professionals in the Atlanta area. These opportunities are very near the ‘once in a lifetime’ status, since Atlanta is expected to grow significantly in the near future, and prices may rise to the point where investment in the area becomes much less lucrative than it is today. So investors stop second guessing and go head down to Atlanta and grab hold of your future investment property. Atlanta’s rental market is definitely one to look out for!