Metro Atlanta Apartment rental rates have rising 4.51% over the past year. This average of $876.17 is a new high and indicates that the rental market in and around Atlanta is strong. Vacancies are down also.Demand is up now that consumer confidence has risen. The pent=up demand of adult children who lived at home and the roommate who wants their own place is helping also. Several larger apartment complexes are raising rents monthly . Gone are the days of complexes offering a free months rent.
What does this mean for you? Our clients are generally not apartment owners but we should see the demand cause our rents to creep up 5% or so this year. If you are a renter – renew your lease now or looking into purchasing your own home.