Atlanta, “the city in a forest”, is known for its greenery and its growing cultural, social and business scenes. It is one of the biggest cities in Georgia and has a lot to offer in terms of lucrative real estate investments. Considering that the cost of living here is lower than the national average, a timely investment will help you ride the wave of demand that is going to sweep in. Even through times of crises, this city has pulled through splendidly making it a prime investment for business opportunities and a resilient workforce. The early months of the COVID-19 pandemic caused a decrease in the number of listings by 23%, but the average price of $351,000 has only seen a 6% decrease in Atlanta.
We took a look at some of the top neighborhoods in Atlanta that can give you a healthy Return of Investment (ROI) along with an idyllic atmosphere. Investing in property is always a huge leap, so we have researched for you to make these decisions based on market data.
The Midtown neighborhood of Atlanta may be the priciest part of the city, but it is also the one that sees the most demand for rentals. The median cost is $355,00, and the median rental price is $1,400. There is a constant lust for homes here as Midtown is the pulse of the city with its vibrant atmosphere. Such widespread demand makes sure your ROI is robust. It boasts of top-performing schools and rich ethnic diversity. Midtown Atlanta home values have risen over the past year by over 2%.
Hanover has the distinction of being one of the safest neighborhoods in Atlanta. Located in the northern region, the median value of homes is $290,000, and rent prices are approximately $1,190. It’s a great location along Peachtree creek and makes for an easy commute to Midtown or Downtown.
There is an urban-suburban aura when it comes to Bolton Hills, and that’s reflected in the mix of people who live here. Almost 87% of the homes are rented out in this neighborhood. Monroe Heights is another neighborhood that borders Bolton Hills and has the same median price of $200,000 and the rental rate at $900. These neighborhoods are a great investment for their high rental demand by young professionals.
With an overall satisfying performance on metrics like schools, social scene, safety and cost of living, Buckhead is a very lucrative neighborhood. The median price can range from $500,000 in North Buckhead to $290,000 in Buckhead Heights. The area does well with a median rental rate of $1,800. Ranked as #11 on best neighborhoods to live in, factoring in the ROI, Buckhead is a profitable option for real estate investment.
Dixie Hills hosts a lot of homeowners over rental options as the median value is on the lower end at $120,000. The median rental cost is at $900. The neighborhood has a widespread urban feel and is home to many young professionals and retirees. It also finds a place on the list as some of the best long term properties to invest in.
What the future holds
Neighborhoods like Southwest Dekalb, Bankhead, Candler Park, Laurens Valley and Hunter Hills also have properties that have the potential to elevate to the ranks of the neighborhoods previously mentioned. Though the pandemic has affected the real estate scene, it has also opened up other avenues to invest like record low-interest loans and cheaper down payments. These avenues will open up the market to savvy investors looking for a great deal. Atlanta has always been a cultural hub, and it is one of the top five cities touted to take over Silicon Valley in the technology field. The prospects and picturesque pace of the city make it an ideal and wise real estate investing arena. Real Estate predictions and information have been known to change, depending on a variety of factors.