Report: Atlanta rent increases are (gulp) outpacing San Francisco (Emerson: sales, 2015)

[glovenyc]

Intown rent prices are climbing, even as the city’s rental housing stock burgeons




https://atlanta.curbed.com/2018/4/2/...gs-prices-jump

[cqholt]

So much for all those fears of oversupply of intown apartments.

[NC2ATL60]

Atlanta is in top demand apparently!

[Atlwarrior]

Great news! I hope this warrants a supertower coming in the near future.

[ATLTJL]

This is one of the key reasons I bought.

Home ownership is a pain sometimes, and I won't say I don't get the appeal of renting.....but it's also nice to know that my mortgage can't jump 70% in on year. It stays exactly the same, and property taxes move up at a much slower pace.

I was sick of giving my yearly salary increases (and then some) to rent increases, you feel like you can never get ahead.

[brown_dog_us]

Originally Posted by cqholt

So much for all those fears of oversupply of intown apartments.

Check out the stats for midtown and Buckhead:

Key Findings — Midtown

The median rent in Midtown is $1,835, up 2.4 percent from a year ago.
Median 1-bedroom rents are $1,612, up 1.5 percent year-over-year.
Rental inventory in Midtown on HotPads is up 172.8 percent from a year ago.
Key Findings — North Buckhead

The median rent in North Buckhead is $2,428, up 1.7 percent from a year ago.
Median 1-bedroom rents are $1,608, down 1.7 percent from a year ago.
Rental inventory in North Buckhead on HotPads is up 153.2 percent from a year ago.

Inventory is way up, but rents are stagnating. There is more inventory in the pipeline.

[fourthwarden]

Originally Posted by brown_dog_us

Check out the stats for midtown and Buckhead:

Inventory is way up, but rents are stagnating. There is more inventory in the pipeline.

Which is great for those specific sub-markets, but the city as a whole is seeing higher increases, meaning that there's still wider need for more housing.

Also, hey look, supply and demand does work! Who'd'a thunk it?

[Atlanta Scientist]

Atlantans may have no choice but to rent.

The sales center is closed for the foreseeable future.

Emerson Buckhead broke ground late-2017 as one of only a few forthcoming condo developments in Atlanta among a sea of new apartments.

The 19-story tower, at 2520 Peachtree Road, was set to replace a 3-level, 47-unit residential building originally completed in 1955.

JPX acquired the existing units and 1.84-acre site in November 2015 and opened a sales gallery for the new residences at ADAC West in August 2016.

It's unclear why the glitzy high-rise won't be developed as planned, but the news doesn't fare well for similar projects like No2 Opus Place—the ultra-lux condo tower set to go vertical in Midtown.

https://whatnowatlanta.com/emerson-b...roject-stalls/

[arjay57]

Originally Posted by glovenyc

Intown rent prices are climbing, even as the city’s rental housing stock burgeons

https://atlanta.curbed.com/2018/4/2/...gs-prices-jump

So even though supply has exploded, affordability is worse than ever?

[Serious Conversation]

Many developers are not seeing a need to develop for the average rental market. It just isn't as profitable.