Metro Atlanta Apartment rental rates have rising 4.51% over the past year. This average of $876.17 is a new high and indicates that the rental market in and around Atlanta is strong. Vacancies are down also.Demand is up now that consumer confidence has risen. The pent=up demand of adult children who lived at home and the roommate who wants their own place is helping also. Several larger apartment complexes are raising rents monthly . Gone are the days of complexes offering a free months rent.
What does this mean for you? Our clients are generally not apartment owners but we should see the demand cause our rents to creep up 5% or so this year. If you are a renter – renew your lease now or looking into purchasing your own home.
This is absolutely good news for apartment owners but not good for renters. Totally agree! Renters should probably just look into buying a house if rent will go up every so often.