Average Rent in Atlanta: Exploring a Thriving Market!
Anyone looking to rent a property in Atlanta knows that prices change all the time. Prices also can vary depending on the type of property you want to live in. As such, staying current with changes and current rates is important. Today, we’ll discuss the rental market, the current average rent in Atlanta, how Atlanta compares to other major cities, and tips for tenants.
Key Takeaways from this Article:
- Atlanta’s Evolving Rental Market: The rental market in Atlanta is becoming more balanced, with a gradual stabilization expected by 2025. New construction is increasing the availability of rental properties, providing tenants with more options and competitive pricing.
- Current Average Rent in Atlanta: Rent prices in Atlanta are slightly above the national average, with a 1-bedroom apartment averaging $1,574 per month. However, prices are still significantly lower than in larger U.S. cities like Los Angeles and New York.
- Price Comparisons with Other Georgia Cities: Atlanta has higher rent prices compared to other major cities in Georgia, such as Augusta, Macon, and Savannah. For example, the average rent for a 3-bedroom apartment in Atlanta is $2,212, compared to $1,516 in Augusta.
- Tips for Renting in Atlanta: Potential renters should research neighborhoods, compare prices, set a budget, visit properties in person, and carefully review lease agreements before committing to a rental in Atlanta.
What Does the Atlanta Rental Market Look Like?
Atlanta property managers know that the rental market is constantly changing. Last year, the market experienced a slower pace, but so far this year, we’re seeing a gradual progression toward a more balanced and stable market by 2025.
For renters, apartment hunting in Atlanta is about to get easier, if it hasn’t already. After all, there has been a ton of new construction, with more on the way. With an influx of new units and more being built, renters have more opportunities. With more rental property options, tenants can search competitively and compare prices.
That said, after rental prices in Atlanta soared over the past few years, they’re slowly coming down. If you’re looking at moving to Atlanta, it’s essential to know what rates you will find. Next, we’ll go over average rent prices for different rental types in Atlanta.
Average Rent Prices in Atlanta, GA
Atlanta’s rent prices are pretty reasonable compared to other major cities in the United States. For instance, the national average rent price in the US is currently $1,535 per month, and the average rent in Atlanta, GA, is $1,574 per month. While this means Atlanta’s prices are 3% higher than the national average, it’s much lower compared to large US cities like Los Angeles, New York, or Chicago.
Let’s break it down into the average rent prices for different apartment types.
- Average rent in Atlanta for a studio apartment – $1,504/month
- Average rent in Atlanta for a 1-bedroom apartment – $1,574/month
- Average rent in Atlanta for a 2-bedroom apartment – $1,865/month
- Average rent in Atlanta for a 3-bedroom apartment – $2,212/month
Price Comparisons with Other Major Cities in Georgia
Atlanta is the most populated city in Georgia, with 494,838 residents. However, there are several large cities in Georgia that are somewhat similar to Atlanta. According to Apartments.com, here are the rental prices for other major cities in Georgia.
| Top Cities in Georgia | Price for studio | Price for 1-bed | Price for 2-bed | Price for 3-bed |
| Atlanta | $1,504/month | $1,574/month | $1,865/month | $2,212/month |
| Augusta | $961/month | $1,031/month | $1,137/month | $1,516/month |
| Macon | $931/month | $973/month | $1,094/month | $1,202/month |
| Savannah | $1,619/month | $1,537/month | $1,699/month | $1,880/month |
| Athens | $1,033/month | $1,156/month | $1,396/month | $1,651/month |
| Sandy Springs | $1,448/month | $1,473/month | $1,782/month | $2,229/month |
Tips for Tenants Seeking Rentals in Atlanta
If you’re considering a move to Atlanta, it’s important to know exactly what you’re looking for in a rental home. Doing your research, comparing prices, and touring properties in person are all part of the process. Here are some tips for tenants seeking rentals in Atlanta, GA.
- Research Neighborhoods- All neighborhoods have their unique characteristics and amenities. As such, you’ll want to find one that fits your lifestyle and needs. Do you thrive in busy city vibes, like in Midtown, or do you want a more suburban feel, like in Sandy Springs?
Compare Prices- Prices can differ significantly depending on where you want to rent. So, use online resources like Zillow, Apartments.com, or Rent.com to compare listings and read reviews about certain rental properties. - Set a Budget- Throughout your search, remember your budget. Know what you can afford for a rental property, including utilities and other living expenses. Generally, you’ll want to ensure your rent doesn’t exceed 30% of your monthly income.
- Visit Properties In Person- While you may be looking at properties from a distance, getting the whole picture is crucial. Visit potential rentals in person to get a true sense of the space, neighborhood, and property condition. Virtual tours are helpful in a pinch, but nothing compares to seeing the property first-hand.
- Read Lease Agreements Carefully- Once you’ve selected a property, it’s important to read the lease agreement thoroughly before signing. Check for any hidden fees, and pay attention to the lease duration, renewal options, responsibilities, and penalties for breaking the lease.
How Can BMG Help Renters and Property Owners?
If you’re looking to move to Atlanta, it’s important to know what you’ll spend on housing. Luckily, the average rent in Atlanta is fairly reasonable compared to other major US cities. So, do your research, compare rentals, and find one that meets your budget, preferences, and needs.
Need help finding the right place for you? Bay Property Management Group can help! Check out our current listings in Atlanta, or contact one of our property managers today.
On the other hand, if you’re a rental owner in Atlanta and need help managing your properties, BMG is here for you! Our team of skilled property managers can help with any aspect of your business, whether it’s marketing properties, finding qualified tenants, or performing maintenance. Contact BMG today to learn more!
