November 4th 2023.
Amid debates about whether Atlanta is becoming too crowded, a new report by Forbes has provided insight into why the city is so attractive to potential renters. On October 24th, Forbes released its “Best Cities for Renters of 2023,” and Atlanta has secured a place within the top 15.
The metro area of Atlanta has an impressive population of 6.1 million people, making the entire state of Georgia just over 11 million inhabitants. According to the study, Atlanta comfortably ranked at No. 13. Forbes used a variety of metrics to produce the list, such as average rental prices and unit sizes, year-over-year percentage change in average rent, the percentage of renters who are rent-burdened, crime rates, the percentage of dog-friendly rentals, and amenities.
The average cost of a one-bedroom apartment in Atlanta stands at $1,535, which is a 2.9 percent decrease from the previous year. This statistic is quite favorable for renters in the city. The top city according to the list was Chandler, Arizona, and Atlanta was the sole representative from the Southeast, further highlighting its desirability.
At the other end of the spectrum, Newark, New Jersey was the lowest-ranked city in the study. The reasons for this are attributed to a high percentage of rent-burdened households (56%) and small average unit sizes for renters.
Overall, Atlanta’s position as the 13th best city for renters confirms its attractiveness in the rental market. With reasonable prices and a wide range of amenities, it’s no surprise that the city continues to attract new residents despite the debate on overpopulation.
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