{"id":153597,"date":"2023-05-31T15:43:06","date_gmt":"2023-05-31T21:43:06","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=153597"},"modified":"2023-08-01T10:53:07","modified_gmt":"2023-08-01T16:53:07","slug":"atlanta-real-estate-market","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/atlanta-real-estate-market","title":{"rendered":"Atlanta Real Estate Market: Prices &#038; Trends In 2023"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC8716562705\" width=\"100%\"><\/iframe>\r\n  \n\n\n\n\n<p><span data-preserver-spaces=\"true\">Atlanta, colloquially referred to as the \u201ccapital of the South,\u201d is a large and growing market with interesting investment opportunities. The metropolitan area, officially defined as Atlanta\u2013Sandy Springs\u2013Alpharetta, has a population of over six million and hosts the headquarters of many well-known companies such as Coca-Cola, CNN, and Chick-Fil-A (all of which oddly start with the letter \u201cC\u201d), and has an excellent sports scene anchored by the Hawks (NBA), Braves (MLB), and Falcons (NFL).<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">In this article, we\u2019ll cover Atlanta\u2019s housing market and economy and offer investing tips by an expert in the city.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Home Prices<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Atlanta\u2019s median home price is around $375k, which is less than the national median by about $50k. Below, you can see that year-over-year growth is falling back to just over 0% after a huge spike during the pandemic.&nbsp;<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"2227\" height=\"1663\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/medain-sales-ATL.jpg\" alt=\"\" class=\"wp-image-153637\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/medain-sales-ATL.jpg 2227w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/medain-sales-ATL-300x224.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/medain-sales-ATL-1024x765.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/medain-sales-ATL-768x573.jpg 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/medain-sales-ATL-1536x1147.jpg 1536w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/medain-sales-ATL-2048x1529.jpg 2048w\" sizes=\"auto, (max-width: 2227px) 100vw, 2227px\" \/><figcaption class=\"wp-element-caption\"><em>Median Sales Price in Atlanta (2017-2023)<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Prices in Atlanta have been flat and even declining for a while, just like other similarly sized cities such as <a href=\"https:\/\/www.biggerpockets.com\/blog\/dallas-real-estate-market\" target=\"_blank\" rel=\"noreferrer noopener\">Dallas<\/a>. Because price growth is plunging, you might expect prices to continue falling in the near future. However, this wouldn\u2019t deter me from investing in Atlanta, as there is still strong demand. For instance, look at this sample of data from Redfin:<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1656\" height=\"1192\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image1-3.jpg\" alt=\"Quarterly Net Flow of Redfin Users for Atlanta (2017-2022) - Redfin\" class=\"wp-image-153598\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image1-3.jpg 1656w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image1-3-300x216.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image1-3-1024x737.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image1-3-768x553.jpg 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image1-3-1536x1106.jpg 1536w\" sizes=\"auto, (max-width: 1656px) 100vw, 1656px\" \/><figcaption class=\"wp-element-caption\"><em>Quarterly Net Flow of Redfin Users for Atlanta (2017-2022) &#8211; <a href=\"https:\/\/www.biggerpockets.com\/blog\/florida-rental-market\" target=\"_blank\" data-type=\"post\" data-id=\"153475\" rel=\"noreferrer noopener\">Redfin<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Clearly, plenty of people are setting their sights on Atlanta, just like many other destinations in the South. This should help buoy prices throughout the rest of the correction and help Atlanta continue to grow.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Plus, when we factor in what\u2019s going on with supply, it\u2019s pretty clear that the imbalance of supply and demand is still propping up home prices.&nbsp;<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"2227\" height=\"1663\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/Inventory-ATL.jpg\" alt=\"\" class=\"wp-image-153638\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/Inventory-ATL.jpg 2227w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/Inventory-ATL-300x224.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/Inventory-ATL-1024x765.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/Inventory-ATL-768x573.jpg 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/Inventory-ATL-1536x1147.jpg 1536w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/Inventory-ATL-2048x1529.jpg 2048w\" sizes=\"auto, (max-width: 2227px) 100vw, 2227px\" \/><figcaption class=\"wp-element-caption\"><em>Inventory and New Listings in Atlanta (2017-2023)<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">As you can see in the chart above, new listings are currently reaching new lows, and inventory is dropping off a cliff. Days on market (DOM) is rising, despite the market dynamics at play, but I\u2019ll note that the DOM is more in line with what we used to see pre-pandemic and not anything out of the ordinary when compared to that.&nbsp;<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"954\" height=\"654\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image5-3.jpg\" alt=\"Days on Market in Atlanta (2017-2023)\" class=\"wp-image-153602\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image5-3.jpg 954w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image5-3-300x206.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image5-3-768x526.jpg 768w\" sizes=\"auto, (max-width: 954px) 100vw, 954px\" \/><figcaption class=\"wp-element-caption\"><em>Days on Market in Atlanta (2017-2023)<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Overall, Atlanta is still a seller\u2019s market, but not as unaffordable as many other markets throughout the country.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Cash Flow Potential<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Atlanta is a mixed bag when it comes to cash flow. Below is the <a href=\"https:\/\/www.biggerpockets.com\/blog\/price-to-rent-ratio-analyze-location\" target=\"_blank\" rel=\"noreferrer noopener\">rent-to-price (RTP) ratio<\/a> for each Atlanta metro ZIP code. RTP ratios closer to 1% are generally a good indicator of cash flow. That said, you\u2019ll find plenty of areas south of the city that can get you quality cash flow every month. Up north, not so much.<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1999\" height=\"1010\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image3-4.jpg\" alt=\"Rent-to-Price Ratio by ZIP Code in Atlanta\" class=\"wp-image-153600\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image3-4.jpg 1999w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image3-4-300x152.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image3-4-1024x517.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image3-4-768x388.jpg 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image3-4-1536x776.jpg 1536w\" sizes=\"auto, (max-width: 1999px) 100vw, 1999px\" \/><figcaption class=\"wp-element-caption\"><em>Rent-to-Price Ratio by ZIP Code in Atlanta<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">The top overall ZIP codes by RTP are:<\/span><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">30303 &#8211; Downtown Atlanta (.99%)<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">30315 &#8211; Lakewood Heights (.87%)<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">30354 &#8211; South Atlanta (.83%)<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">30349 &#8211; South Fulton-College Park (.78%)<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">30314 &#8211; Hunter Hills (.77%)<\/span><\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Rent Trends<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Rent in Atlanta has been growing consistently since 2016. Only within the last year has growth slowed, just like the rest of the country. Overall, median rent costs around $1,940\/month as of writing.<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1999\" height=\"1011\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image6-3.jpg\" alt=\"Median Rent Over Time in Atlanta (2016-2023)\" class=\"wp-image-153603\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image6-3.jpg 1999w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image6-3-300x152.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image6-3-1024x518.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image6-3-768x388.jpg 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/05\/image6-3-1536x777.jpg 1536w\" sizes=\"auto, (max-width: 1999px) 100vw, 1999px\" \/><figcaption class=\"wp-element-caption\"><em>Median Rent Over Time in Atlanta (2016-2023) &#8211; Redfin<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Based on what I said previously, strong demand and migration will likely keep rent prices in line throughout the rest of the year and beyond.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Economics and Demographics<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">If you\u2019ve ever been to Atlanta, you\u2019d know that the traffic is up there with LA on the scale of horror. Part of this is because it\u2019s got a pretty solid job market amplifying its commuter time. According to&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/wallethub.com\/edu\/best-cities-for-jobs\/2173\" target=\"_blank\" rel=\"noopener\"><em><span data-preserver-spaces=\"true\">WalletHub<\/span><\/em><\/a><span data-preserver-spaces=\"true\">, Atlanta is ranked 21st for the best job markets in the United States.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">As mentioned earlier, Atlanta is home to many large corporations, but it also has considerable education, healthcare, and tourism sectors. With a median age of 37 years old, a median household income is just over $77,000, and an unemployment rate of 2.7% (0.7% below the national rate), Atlanta has strong demographics for long-term growth, furthering its case as a solid buy-and-hold destination.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Winning Strategies<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Matt Nicklin, an investor-friendly real estate agent in Atlanta, recommends \u201cbuy-and-hold investing and house hacking as great strategies for the Atlanta market.\u201d<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">If you\u2019re interested in learning more about investing in Atlanta, partner with a local investor-friendly real estate agent like Nicklin who can guide you through the strategies, tactics, and neighborhoods to focus on.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Here\u2019s how to contact Matt Nicklin on Agent Finder:<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">&#8211; Search \u201cAtlanta, GA\u201d&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">&#8211; Enter your investment criteria<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">&#8211; Select Matt Nicklin or other agents you want to contact<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Nicklin is a long-time real estate investor in direct ownership and syndication, purchasing his first rental in 2010 before his primary home. He also owns OneSource Real Estate\u2014a full-service real estate brokerage specializing in real estate sales and property management\u2014through which he\u2019s helped an array of investors get started and grow their portfolios. From partnering with rookies to pros, Nicklin\u2019s experience spans the spectrum of creative finance, flips, long-term rentals, wholesale, syndication, and note strategies.<\/span><\/p>\n\n\n\n<div id=\"hero-block_62df1a82bfc88\" class=\"first:mt-0 hero-block py-4    has-background has-slate-200-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-slate-800-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">Find an Elite Agent in Minutes<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:16px\"><strong>Agent Finder makes it fast, free, and easy<\/strong> <strong>to find agents that know investing.<\/strong> <br \/><br \/>Match with market experts like Peter Stewart of Indi, Brandon Ribeiro in Philly, Dan Nelson in Chicago, and Jodi Gauthier of Houston.<br \/><br \/>Build your dream team now!<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div id=button-custom-event-block_6412457fc596c class='button-custom-event'>\n      <a href=\"http:\/\/biggerpockets.com\/agent\/match\" x-on:click=\"window.analytics.track(&#039;Blog Block | B2C Marketplace Elite Agent Rob Chevez&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/atlanta-real-estate-market&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Find an Agent<\/a>\n  <\/div>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:16px\"><br \/><\/p>\n\n            <\/main>\n        <\/div>\n\n                <div class=\" first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  shadow-xl rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Elite-Agent.png\" alt=\"Use Agent Finder to find an investor-friendly agent, fast.\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Are things &#8220;peachy&#8221; in Atlanta? Read the article to find out if you should invest here.<\/p>\n","protected":false},"author":612375,"featured_media":153604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7364,7119],"tags":[],"class_list":["post-153597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-markets","category-biggerpockets-daily"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/153597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/612375"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=153597"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/153597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/153604"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=153597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=153597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=153597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}