Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Georgia > Atlanta
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 11-11-2013, 11:26 AM
 
Location: Midtown Baby!!
119 posts, read 212,479 times
Reputation: 31

Advertisements

I have been looking for a small 1 bedroom condo with parking to rent in the Midtown area. When I looked around this time last year I could afford to live in Midtown because rent prices were between $700 and $1000 a month. Now I am seeing rent prices at the same places for $1000 to $1500. What happened?? Did I miss something? I see it's cheaper for me to buy a condo now. Does anyone have any thoughts on this?
Reply With Quote Quick reply to this message

 
Old 11-11-2013, 11:27 AM
 
1,637 posts, read 2,629,675 times
Reputation: 803
Quote:
Originally Posted by Rozi30213 View Post
I have been looking for a small 1 bedroom condo with parking to rent in the Midtown area. When I looked around this time last year I could afford to live in Midtown because rent prices were between $700 and $1000 a month. Now I am seeing rent prices at the same places for $1000 to $1500. What happened?? Did I miss something? I see it's cheaper for me to buy a condo now. Does anyone have any thoughts on this?


Demand.
Reply With Quote Quick reply to this message
 
Old 11-11-2013, 11:30 AM
 
Location: Atlanta, GA
504 posts, read 1,545,251 times
Reputation: 192
Less home buyers = greater number of renters. That plus you are looking in a more desirable part of town.
Reply With Quote Quick reply to this message
 
Old 11-11-2013, 11:51 AM
 
Location: Midtown Baby!!
119 posts, read 212,479 times
Reputation: 31
Home prices are low though... hmmm thanks for your thoughts!
Reply With Quote Quick reply to this message
 
Old 11-11-2013, 11:56 AM
 
1,637 posts, read 2,629,675 times
Reputation: 803
The rents should drop next year when all these apartment developments are complete….I THINK
Reply With Quote Quick reply to this message
 
Old 11-11-2013, 12:01 PM
 
Location: Atlanta
2,862 posts, read 3,819,948 times
Reputation: 1471
The market is changing. Fewer people are buying and more are renting so demand is higher. Some investors buy just to rent instead of re-sell now.

I am planning to move to Midtown in January. I've been assured that month is as low demand a time as December. I got tired of trying to look myself and signed up with Promove; my agent is really staying on top of the rent specials. I am looking for an apartment though and not a condo. Maybe you should check out the Coldwell Banker and Harry Normal real estate sites - they list rentals as well.
Reply With Quote Quick reply to this message
 
Old 11-11-2013, 02:24 PM
 
Location: Midtown Baby!!
119 posts, read 212,479 times
Reputation: 31
Thanks so much for the advice!!!
Reply With Quote Quick reply to this message
 
Old 11-11-2013, 02:39 PM
 
Location: Smyrna, GA
246 posts, read 374,764 times
Reputation: 176
Reply With Quote Quick reply to this message
 
Old 11-11-2013, 04:38 PM
 
329 posts, read 431,185 times
Reputation: 160
Quote:
Originally Posted by Rozi30213 View Post
I have been looking for a small 1 bedroom condo with parking to rent in the Midtown area. When I looked around this time last year I could afford to live in Midtown because rent prices were between $700 and $1000 a month. Now I am seeing rent prices at the same places for $1000 to $1500. What happened?? Did I miss something? I see it's cheaper for me to buy a condo now. Does anyone have any thoughts on this?
Rent is much higher everywhere because demand is so high. Thousands of people that got foreclosed on are now being told to get out or the Sheriff is coming. Banks generally allowed these people to "squat" for the past 3 years because they did not want to take a huge loss selling the house in a down market and it is better to have the house occupied than sitting empty so people don't come in and steal all the wires and pipes. Now that the housing market is red hot again, the banks want to sell these properties and the people they are tossing out need places to go.
Reply With Quote Quick reply to this message
 
Old 11-11-2013, 06:53 PM
 
Location: Midtown Atlanta
70 posts, read 161,833 times
Reputation: 41
Housing bubble is coming to an end
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Georgia > Atlanta

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top