MARKETS & TRENDS
HOT MARKET
Hot Market: Atlanta
DOES THIS CITY SHOW AN UPSIDE FOR INVESTORS?
by Marco Santarelli
he Atlanta real estate market has had steady growth over the past several years making it a great place to live as well as 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. Every - body 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 pro- fessionals priced out of those pricier markets. Atlanta’s tourism industry has tak- en a considerable hit in light of this deadly pandemic. Numerous large- T
scale events, such as the NCAA basketball tournament, have been canceled to prevent the spread of infection among large crowds. Local businesses also bore the brunt of the pandemic. The economy was always going to take a hit in the short run. However, Atlanta’s housing market recovered rapidly. Let’s talk about Atlanta for a min - ute. Atlanta is a minimally walkable city in Fulton County with a popula- tion of approximately 524,000 people. It is currently growing at a rate of 1.67 percent annually and its popula- tion has increased by 24.78 percent since the most recent census, which recorded a population of 420,003 in 2010. It reached its highest popula- tion of 524,067 in 2021. In 2013, its metropolitan area
surpassed the 5.5 million mark for the first time. While growth is slower than it was in the 1990s and early 2000s, it is faster than the previous year and is expected to continue as Atlanta attracts new residents (source: worldpopulationreview) Atlanta has a mixture of owner-oc- cupied and renter-occupied housing units. 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 sin- gle-family detached homes, duplex- es, rowhouses, and homes converted to apartments. The single-family residential housing market in metro Atlanta got impacted by the pan- demic with home sales plummeting from April 2020 onward. There was a
62 | think realty magazine :: january – february 2022
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