There is no better way to learn the true meaning of Southern charm than by diving in to Atlanta real estate and exploring the city as a local. Few cities in the U.S. are growing as quickly as Georgia’s capital, which over the years has become a major center for commerce, cuisine and Southern culture. Thousands of new residents make their homes here each year, attracted by low housing costs, pleasant climate and fun local amenities like CNN Studio Tours and the famous Tabernacle Theater.
Less well-known benefits of choosing housing in Atlanta are the moderate commute times of around 30 minutes to get to work and the dozens of unique neighborhoods to explore. Atlanta has everything from trendy urban districts to quaint communities surrounded by serene forest landscapes. This city is a hotspot for millennials. As of late, young professionals have been taking advantage of the predicted surge in job growth and investing in ATL properties for sale or rent to stay close to the action. Find your perfect Atlanta home by exploring all of the housing options the city has to offer.
Average rent price for an apartment in Atlanta: $1,317
Average sale price for a house in Atlanta: $344,000
Apartments in Atlanta
Apartment rentals are available throughout the metropolitan area, particularly around the Downtown business district. Those up for sale are more likely found in high-rises around the Buckhead or Midtown neighborhoods. Expect rent prices for most one bedroom units to range from $1,200 to $2,000. For cheap apartments in ATL, check out communities just outside of Downtown like:
- Vine City.
- Castleberry Hill.
In these mid-rise buildings, some spaces are rented out for less than $1,000 a month. The average apartment size in Atlanta is 983 square feet. This is well over the national average of 889 square feet, or 934 square feet for brand new units.
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Condos in Atlanta
Condos have a significantly higher price point when compared to local apartments, with many privately owned units containing top-rated amenities and décor. Look for this style of home concentrated in the art district of Midtown and around Peachtree Road in Buckhead, with more limited options available in the Downtown and East regions as well. The majority of condo properties are listed for sale rather than for rent, with a two bedroom condo falling between $200k and $500k. The cheapest listings are generally located around the southern parts of Buckhead, in neighborhoods like Piedmont Heights and Garden Hills.
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Duplexes in Atlanta
Renters who want to live in the city but require more space than the average apartment or condo should consider Atlanta duplexes for rent. Many of these homes come with comforts like a yard or a washer and dryer in the unit. This is a homier and often more budget-friendly option than other types of multi-family housing. For example, you can rent an already renovated duplex for yourself and your family for prices similar to or slightly lower than local apartments. There are also plenty of fixer upper properties in West Atlanta, with some listed at under $50k for those who want to try out restoration themselves.
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Studio Apartments in Atlanta
With the city’s larger-than-average apartment sizes, studio apartments are a great and budget-friendly option for individuals moving into the heart of Atlanta. The average ATL studio is around 570 square feet, ranking in the top five for size when compared with other major urban cities. Studio rentals are usually priced at around $1,200 a month, while larger units can reach up to $1,600. Students at nearby Georgia State and Georgia Tech, as well as young professionals starting a career, often take advantage of these great rates. Units for sale are generally under $150k, though luxury studios with excellent city views list for up to $230k.
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Houses in Atlanta
Single family homes for sale or rent are the most widely available housing option in Atlanta. The types of houses in this city vary widely depending on which region you look into. While Downtown is better suited for compact housing in high-rises, the other main areas for Atlanta real estate each have their own style:
- In West Atlanta, you’ll find cozy single family houses with extra space but fewer frills.
- In East Atlanta, you’ll find charming Victorian-style renovated homes.
- In Midtown, you’ll find modern bungalows and townhomes with the latest upgrades and designs.
- In Buckhead, you’ll find spacious estates and mansions.
Whether you are planning to rent or purchase a house in ATL, pricing is also mostly based on location. Buckhead is usually the most expensive area, with the Midtown and East Regions not far behind. By far the most affordable homes are found scattered throughout the western neighborhoods, from Westview all the way to Bakers Ferry.
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Lofts in Atlanta
Authentic loft apartments are one of the unique aspects of Atlanta housing. The city’s long history has left behind many historic districts, filled with old factories, warehouses and other century-old buildings prime for restoration. Developers have taken advantage of this architecture to design renovated lofts with industrial-style architecture and décor, especially in the East region. Open floorplans, stained concrete, brick facades and wide windows all add to the urban charm.
More modern-style lofts are occasionally available for rent around Midtown or Downtown. But finding lofts for sale isn’t as easy as locating those available for rent. In general, expect costs to range from $1,000 to $2,500, depending on the prestige of the building and the number of rooms. Explore neighborhoods like Oakland, Inman Park and Old Fourth Ward for the best options.
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Multifamily Homes in Atlanta
Like most major cities, Atlanta multifamily homes play a large role in the housing market. Not only do potential residents have dozens of unique neighborhoods to pick from, they also have a variety of property types to consider. Whether you prefer luxury condominiums, spacious townhouses, budget-friendly duplexes or trendy loft apartments, this city has the perfect space for you. Multifamily homes are mostly clustered around the two major business districts located in Downtown and Buckhead. But they also spread out into surrounding areas. Some of the most affordable neighborhoods include:
- The Villages at Castleberry Hill
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Townhouses in Atlanta
In such a bustling metropolitan center, townhouses have a great way of bringing the homey feel of the suburbs to the city. The extra space allows families to comfortably make their homes here, whether renting or purchasing a property. This is because they include amenities like private decks and garages for vehicles. Atlanta townhouses for rent are especially common in Midtown, an area that is highly populated but not quite as crowded as Downtown. Meanwhile, you can find townhomes for sale in eastern neighborhoods like Old Fourth Ward and Inman Park, or around East Buckhead. Cheap units are located farther from the business districts, but these are the average costs for townhome properties of different square footage:
- Around 1,000 square feet: $350,000 to buy or $1,500 per month for rent
- Around 2,000 square feet: $600,000 to buy or $2,300 per month for rent
- Around 3,000 square feet: $800,000 to buy or $3,000 per month for rent
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How to Get a Realtor
A real estate agent is a vital part of the house-hunting experience, guiding you through the whole process from touring properties to signing the contract. To choose the right Realtor to find your perfect home, follow these steps:
- Figure out what type of housing you are interested in, and where you might want to live. Come up with a list of items that your ideal property has, such as an in-unit washer and dryer, hardwood floors, or a pet-friendly policy if you are renting.
- Research local real estate firms. Some real estate agents specialize in certain types of housing or areas of the city. For example, Atlanta realtors in Midtown will most likely have more experience with luxury condos than agents in more suburban areas. Choose one that fits the needs you have outlined.
- Get to know your agent. It is important that you trust your Realtor, so ask about his or her job experience and techniques for finding the right property. Do not settle for just any agent, as this could make or break your house-hunting experience.
- Be upfront and vocal with your opinions. Provide a little information about yourself, including your housing preferences, so your agent knows what properties to look for. The more details and opinions you provide, the better your agent can help you find your dream home.
How to Get a Mortgage Loan
Purchasing a home is one of the biggest investments of your life, and finding the right property is only one part of it. Getting a mortgage loan for your new house seems like a complicated and intimidating process, but it does not have to be if you consider the steps below:
- Make sure your credit is in good shape. Your credit score plays a big part in determining your loan amount and your interest rate. Try to raise your credit score as much as possible before applying to improve your chances of getting a great loan.
- Create a budget. Calculate your current expenses and figure out what kind of mortgage you can afford, including the down payment.
- Apply for pre-approval. A lender will use your credit score and other financial information to estimate how much you can borrow. Use this approach to get an idea of what your loan will look like, and give sellers an idea of your offer range as well.
- Research mortgage options and lenders. Find out whether a fixed or adjustable rate is better for you in the long run, and choose between conventional and government-backed loans.
- Apply for your mortgage loan. Submit the required documents. The underwriting process begins soon after, which will determine if you are eligible for the loan.
Safety is often a top priority when reviewing real estate listings in a new city. Though Atlanta is known for some of the highest crime rates in the nation, according to recent statistics, safety throughout the city has steadily improved over the last few years. Overall crime has fallen around 27 percent since 2009.
Buckhead is largely considered the safest region to rent or purchase homes in, made up of dozens of northern Atlanta neighborhoods that all report relatively low crime rates. The following is a list of the safest neighborhoods within each main region of the city.
- East: Lake Claire and Morningside-Lenox Park
- West: Riverside and Bolton
- Buckhead: North Buckhead, Peachtree Heights West and Chastain Park
- Downtown: Sweet Auburn and Atlanta University Center
- Midtown: Georgia Tech and Marietta Street Artery
Top 10 Reason to Move to Atlanta
There are plenty of reasons why Atlanta is a great city to live in, aside from the vibrant neighborhoods and variety of housing styles. But here are the top 10:
- Join the emerging art community. Atlanta is full of exhibits, theaters and entertainment venues for artists to show off their skills, from the Fox Theatre to the Center for Puppetry Arts.
- Explore the outdoors. The city is known for its hiking trails, parks, gardens and outdoor festivals, including the famed Music Midtown.
- Enjoy culinary delights. Atlanta has become a major culinary destination, boasting the tastiest Southern comfort food and barbecue at some of the finest dining venues like Nikolai’s Roof and Atlas.
- Dive into Southern history. From the Civil War to civil rights, this city has played an important part in the country’s history. Visit historical monuments and districts including the Martin Luther King Jr. Monument.
- Tour international attractions. Atlanta has also become internationally renowned, featuring famous attractions like the World of Coca-Cola Museum and the Georgia Aquarium, one of the largest aquariums in the world.
- Attend top universities. Noteworthy universities like Emory, Georgia Tech and Georgia State call Downtown Atlanta their home, as well as plenty of smaller colleges.
- Take advantage of housing deals. This city is known for offering some of the largest apartments in the country for the price you pay, saving residents money every year.
- Appreciate the weather. Experience the changing of the seasons, from warm, sunny summers to cool autumns decorated with fiery-colored leaves.
- Live in an international hub. One of the largest and busiest airports in the country is a huge benefit for residents who travel, especially internationally. Avoid extra connecting flights by flying directly out of this hub.
- Get into sports. Not only are the Mercedes-Benz Stadium and Phillips Arena located here, in Downtown you can also visit the College Football Hall of Fame and enjoy games at the many popular bars, like STATS Brewpub.