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The Atlanta Real Estate Market
Home » Georgia » Atlanta Real Estate » The Atlanta Real Estate MarketCompared with other American metropolises such as New York, Los Angeles, and Boston, Atlanta has a more manageable cost of living. Perhaps that figure is part of the reason that Atlanta has undergone a housing boom over the last decade. As part of the city’s preparation for the 1996 Summer Olympics, the city underwent a massive renovation, and the building fanaticism hasn’t slowed since. It is difficult to take a walk around town without noticing all the emerging condominiums.
The average monthly rent in Atlanta is slightly below the national average, and you will get more amenities for your rent than you would elsewhere. Inside the city, you will pay approximately eight hundred dollars for a one bedroom/one bathroom apartment and one thousand to thirteen hundred dollars for a two bedroom/two bathroom. If you move out to the suburbs, however, you can likely save two hundred dollars or more, per month, off those prices.
When you start to search for a place to rent, look for an apartment near public transportation or near your workplace. The commute from Buckhead to downtown ten miles away can take nearly an hour on the busiest days. Many high-rise apartments, however, are located near major office buildings. If you want to rent a house rather than an apartment, you will need to look outside of downtown and Buckhead and into some of the more residential neighborhoods.
If you’re looking to buy a condominium or a house, buying prices are also lower than are those in other major U.S. cities. Even with the tremendous increase in prices over the past decade (the increase is slowing), the average home price in 2004 remained at $193,000. In some areas of town, you can find Victorian-style mansions for sale, but if you’re looking for a starter home, check out the south side of town.
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