There is a huge variety of reasons why someone would look to invest their time and money in Atlanta real estate. For one thing, the city is an international hub of entertainment, incredible restaurants, beautiful scenery, and parks, meaning there is a great variety of things to do for people of all ages.
But for the investor, Atlanta is particularly appealing. The city has been experiencing steady population growth with no sign of it stopping. Atlanta GA also offers a strong employment market giving the city a thriving economy. But unlike other comparable cities, the housing market is still affordable, meaning you can get more for your money and still expect a high rate of return.
At Rent Appeal, we believe these reasons and many more are why you should take advantage of the booming Atlanta real estate market. But here is a bit more information to help show you why we are so passionate about this city:
Steady Population Growth
Atlanta is home to almost 500,000 residents. In fact, the Metro Atlanta area has gained more than 64,000 new residents since last year. The city has steady population growth, with an annual appreciation rate of almost 2%. This is a sign that living in Atlanta is a desirable location to many, which means that it offers many opportunities for real estate investors.
Strong Rental Market
Not all residents in Atlanta, especially new ones, can afford to buy a house right away. In fact, almost 60% of Atlanta’s residential properties are being rented. So, if you’re a real estate investor looking to invest in the Atlanta rental market, you’ll most likely get more opportunities from the strong market demand from renters.
Another reason why the Atlanta real estate market makes a great investment is that it offers affordable housing compared to other big cities in the country. The median housing price in Atlanta is lower than the US average, making this city a practical place to invest in.
Despite its affordability, the housing appreciation rate in Atlanta is also rising at a steady pace. This means that investors will find their properties increase in value in just a few years.
Stable Job Market
One reason why people are moving to Atlanta is due to its good economic conditions and many job opportunities. Atlanta offers a strong job market, making it a great place for any resident. In fact, it is home to 16 Fortune 500 companies.
Not only that, but there are also many universities, civil operations, and hospitals within the city limits. This means that Atlanta has plenty of opportunities for young professionals, retirees, students, and families. In addition, young professionals can attain career growth in this Southern hub for large businesses.
Plenty of Entertainment Options
As mentioned, Atlanta is a great place for entertainment. It offers a variety of activities for people who are into sports and arts. Many community theaters and comedy clubs are available within the city, providing access to show nights every week.
This place also offers great opportunities for residents who plan to be on stage. In fact, it is dubbed the “Hollywood of the South”.
Atlanta is also known for its festivals, such as street fairs, art festivals, and music festivals. Plus, this city is also popular for its sports entertainment, such as baseball, basketball, and soccer, and is also home to the Atlanta Falcons NFL team.
Easy Access to Nature
People who don’t want to remain in the hustle and bustle of the big city can take a drive for an hour or two to go to Atlanta’s suburbs. Stone Mountain and the Chattahoochee River are two of the most famous destinations in the suburbs of Atlanta.
They are ideal for people who love outdoor activities like hiking, biking, tubing, river rafting, and stand-up paddleboarding. Moreover, there are numerous state parks that offer access to trails for hiking, lakes for fishing, and parks for camping.
Things to Consider When Buying an Investment Property in Atlanta
Since Atlanta is such a big city, it’s important to know which neighborhood to invest in. Keep in mind that not all local areas in Atlanta are ideal for investing in real estate.
To be a successful investor, it’s important to find a neighborhood that has a high demand for rentals. To ensure that you’re buying an investment property in a location that is desirable for renters, you have to keep these things in mind:
Check the Safety
A safe neighborhood is crucial because renters don’t want to stay in a dangerous place. Avoid buying an investment property anywhere that seems isolated or abandoned. In addition, make sure to check the crime rate in the area to ensure that it’s generally safe for its residents.
Confirm the Amenities
Depending on your target market, a neighborhood’s amenities can either make or break your investment. In general, it’s best to invest in an area where it is easy to access public transportation systems, schools, hospitals, supermarkets, restaurants, and other recreational facilities.
Verify the Rental Demand
To ensure that you’ll become a profitable investor, you have to do your research to verify the rental demand in the area before you buy an income property. Check the rental properties within the location to see if they are earning enough.
This will give you an idea of how rental properties perform in a particular neighborhood, as well as your potential income should you choose to invest there.
Real estate in Atlanta GA can be a highly lucrative investment, as long as you do your research. The city has a major thriving economy, an affordable housing market, and a competitive rental market, making it the perfect opportunity for a real estate investor.
If you have any questions about buying real estate in Atlanta, please don’t hesitate to contact us at Rent Appeal property management. We have all the skills and experience to turn your property into a lucrative investment.