ATLANTA — The price of rent is going up across metro Atlanta.
If you are searching for a new apartment in the city limits, be prepared to pay a lot more than this time last year.
Rent.com went through the prices across dozens of neighborhoods. Atlanta’s Southside saw the largest increase compared to last year at 83%.
You will pay more than 50% higher rent to live in some locations along the Atlanta BeltLine. Reynoldstown saw a jump of 54% with a one-bedroom apartment leasing for $2,000 a month, on average.
It’s not only Atlanta’s Eastside BeltLine seeing a jump in prices. Brian Carberry, from Rent.com, said developers and landlords are picking up on trends after seeing the East and West Side BeltLine continue to boom.
“People are kind of seeing what happened on the East side and making predictions of all of these other neighborhoods and what’s going to happen there,” Carberry told Channel 2 Action News.
TRENDING STORIES:
- Auto store employee shoots customer multiple times in the store, killing him, family members say
- 17-year-old Marietta boy shot to death in chaos after Airbnb party broken up by homeowner
- Man acquitted in Tara Grinstead’s murder facing six new charges in her death
The housing market is also playing a major role in pushing rent prices higher.
“The housing market in Atlanta and really everywhere right now, is really still significantly hot,” Carberry said.
He explained how the housing market is driving demand for apartments.
“You’re seeing a lot of people who are saving up for a house and realizing they can’t really afford something ITP and they don’t want to go OTP. They are looking to rent as the only option they have to afford something inside the city,” Carberry said.
The suburbs are seeing similar trends. Areas surrounding Atlanta have seen double digit increases.
To look up the trends where you live, see the full list of rent prices HERE.
IN OTHER NEWS:
©2022 Cox Media Group
