Average Metro ATL Rents passed $1,000.00 (Atlanta, Sandy Springs: apartment, rentals, condo)

[BeyondInfinity]

I am sure that most of you are aware of this already but average rents in metro Atlanta has passed $1,000.00 per month for the first time ever (Report: Average metro Atlanta rents zoom past $1,000 per month | www.ajc.com).

I use to live in Sandy Springs and when I first signed my lease, I was paying $1095.00 a month. By the time I left after 4 years my rent had increased to $1300.00 (Which is asinine).

Rent is way too high compared to salaries.

What are your thoughts on this?

[tikigod311]

Hurray?

I decided to resign for another 9 months, even though I'm getting a new job and could move someone more convenient. Hoping that over 9 months it calms down a bit, but I'm probably just wrong. If this trend continues, I will much more strongly consider buying.

[bhammaster]

It's a very silly for rents to be that high here in many areas. We honestly have way too much available land for there to be a housing shortage and the wages + amenities aren't comparable to other expensive cities.

Hopefully more apartment get built and quickly ( but not at the expense of quality). These landlords have lost their mind thinking this is the NE or West Coast.

[afdinatl]

Plenty of safe places ITP for $700 a month

I know
My thoughts is the article is bs.

[Gulch]

Originally Posted by bhammaster

It's a very silly for rents to be that high here in many areas. We honestly have way too much available land for there to be a housing shortage and the wages + amenities aren't comparable to other expensive cities.

Hopefully more apartment get built and quickly ( but not at the expense of quality). These landlords have lost their mind thinking this is the NE or West Coast.

Space becomes more of an issue when everyone wants to live in the same 6-7 neighborhoods (basically Midtown, O4W, Va-Hi, Inman Park, West Midtown, Buckhead, and Lindbergh).

[alco89]

Originally Posted by afdinatl

Plenty of safe places ITP for $700 a month

I know
My thoughts is the article is bs.

REALLY!? Please point me to them! I'm looking...

[Serious Conversation]

This is happening in a lot of places.

I live in a suburb of Indy and pay $800 and utilities for a dated 2 BR with high power bills. Rent went up $50 this year. It will probably continue going up, and this isn't in a particularly hot area and the apartment is not that nice. The apartment was built in the 70s and feels that old. To compare, PITI plus COA fees of $180/month for a $115k new construction condo with a 3% conventional loan will only cost me about $100 more month, and that's not counting the tax advantages.

Escalating rents are, IMO, becoming the bane of many young people or those not sitting on a stockpile of cash for a downpayment. I think many people are renting because they don't have the credit or the downpayment needed to buy. As rents go up, they come less able to save. It's a vicious cycle where people can be on a "renting treadmill" where they can end up paying hundreds of dollars more per month than buying a similar property.

[OuiOui]

Originally Posted by afdinatl

Plenty of safe places ITP for $700 a month

I know
My thoughts is the article is bs.

$700/mo for two bedrooms? If so, where! Since you're in the loop
Because I'm looking at rentals now, and I'm seeing $900+ in undesirable locations. And well over $1000 in the more desirable areas.

[afdinatl]

Originally Posted by alco89

REALLY!? Please point me to them! I'm looking...

One bedrooms....$700 ish


Akers Mill Rd
https://www.google.com/maps/@33.8935...7i13312!8i6656

Clairmont Rd between 85 and Buford Hwy
https://www.google.com/maps/place/Ak...fa8c34ac2f957f

Paces Walk
https://www.google.com/maps/@33.8552...7i13312!8i6656

[OuiOui]

OH Yeah the article was referring to two bedrooms, so I guess it's not BS after all.