Atlanta, GA: Market Breakdown from A Local
This little big city has gradually made a name for itself in the real estate industry. Atlanta is unique and thriving. The job market is growing and housing prices are at historical highs. It’s a great time to own property in Atlanta and surrounding areas. For those of you looking to break into the market, here’s a breakdown of the area.
The Atlanta area can be separated into two distinct categories…..inside the perimeter (ITP) or outside the perimeter ( OTP).
Check out the map.
https://www.n-georgia.com/images/atlantamap.gif
Every area inside the HWY 285 loop is considered ITP. Within this circle you have several different cities. To the north you will find the cities of Buckhead and Vinings. These are affluent areas that give a suburban vibe while living close to the city. Good school systems. Well established areas. Properties typically have higher appreciation and lower cash flow. The area maintains it’s value well.
To the East lies East Atlanta. Edgewood and Kirkwood are in town hot spots on the east side. Lots of development, new houses, retail and entertainment. A little further East is the City of Decatur. Decatur has seen a lot of flipping activity over the past 3-4 years. Deals are hard to come by, but this is a solid area to invest. Good school systems, solid appreciation, higher class tenants.
West Atlanta is still transitioning. Areas closer to downtown have seen the most growth, like The WestEnd. This area is close to all Atlanta universities, so college students are a large part of the tenant base.
Further west is Grove park, an area to look for opportunity. Grove Park is an underserved market that would benefit from additional investment in commercial and residential options. Microsoft has purchased a large track of land in Grove Park to build a new Hub here in Atlanta.
Comprised of East Point, College Park, and Hapeville, the south side of Atlanta is ripe for growth. Several development initiatives are underway like the Aerotropolis and Six West. Property prices are lower here than in the other areas mentioned above.
An issue with the south side is the school system. Schools are poor in some areas, while in other areas the schools are excellent. For example- Woodward Academy ( A top notch private school) is located in College Park. I foresee the school system turning around as more money pours into the areas and development continues.
Remember : A bad deal looks great in an up market. Make sure you’re buying quality.
Happy Investing.
Canesha