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by Rafael Pena
November 4, 2023
Amid debates about whether or not Atlanta is changing into too crowded, a brand new report by Forbes on Oct. 24 means that the town’s rental market is perhaps one of many compelling elements drawing individuals in. Not too long ago, Forbes launched its “Finest Cities for Renters of 2023,” and Atlanta has proudly secured its place throughout the high 15 cities.
With Atlanta’s inhabitants surpassing a staggering 6.1 million, it’s price noting that the metro space has develop into a major magnet for residents, whereas the whole state of Georgia counts simply over 11 million inhabitants. When Forbes delved into the perfect cities for renters, Atlanta comfortably ranked at No. 13 on their listing.
“We evaluated the 96 most-populated U.S. cities with accessible knowledge throughout 23 completely different metrics to uncover the perfect cities for renters. We thought-about common rental costs and unit sizes for one- and two-bedroom leases, the year-over-year share change in common hire, the proportion of renters who’re rent-burdened, crime charges, the proportion of dog-friendly leases, facilities, and different metrics to establish the perfect cities to hire in,” Forbes said as to its methodology for the examine.
The report signifies that the common price of a one-bedroom condo in Atlanta stands at $1,535, reflecting a 2.9 p.c lower from the earlier 12 months. These statistics exhibit a positive state of affairs for renters within the metropolis.
Topping this 12 months’s listing of finest cities for renters was Chandler, Arizona. Notably, Atlanta was the only real consultant from the Southeast to make the listing, underlining its desirability amongst these in search of rental lodging.
In distinction, the unlucky distinction of being the lowest-ranked metropolis went to Newark, New Jersey. Forbes attributed Newark’s unfavorable rating to its excessive share of rent-burdened households, which stands at a major 56 p.c, in addition to the small common unit sizes accessible for renters.
In abstract, Atlanta’s prominence because the thirteenth finest metropolis for renters, reaffirms the town’s attract within the rental market. With favorable rental costs and an array of accessible facilities, it’s no shock that Atlanta continues to attract new residents regardless of considerations about overpopulation.
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