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Real Estate Market Trends: Everything You Need to Know in Beautiful Atlanta

Real estate has become a popular avenue for people looking to diversify their income streams and potentially hedge against inflation. Whether you’re a seasoned pro or just getting started in investing, Atlanta, GA, is certainly worth considering.

Founded in 1837, the city of Atlanta is known as a historic transportation hub that connects people to not only other parts of the U.S. but the whole of the world. This vibrant city is the capital of Georgia and is located in the heart of the state. Commonly referred to as ATL thanks to the large airport in the area, Atlanta is also a huge hub for the music and entertainment industries, which keeps the culture constantly vibrant and growing.

Atlanta real estate market

But what about the Atlanta real estate market? What do stats and trends look like, especially right now? Facts and figures are constantly changing, so we’ve gathered all the most up-to-date information for you.

Here are some of the top trends for January 2024 in the Atlanta real estate market:

Atlanta General Statistics

  • Population (city proper): 487,203 (down 2.48% since 2020)
  • Population (metro area): 6,222,908
  • Area (city proper): 135.3 sq mi
  • Area (metro area): 8,685.7 sq. mi.
  • Median Age: 34
  • GDP: $525.8 Billion
  • Unemployment rate: 3.4% (down .3% since August 2023)
  • Top employers: Emory University, Delta Airlines, Northside Hospital INC., Piedmont Healthcare, The Home Depot INC.
  • Highest paying jobs: Oral Surgeon, Anesthesiologist, Assistant Professor of Surgery, Transplant Surgeon, Physician, Interventional Pain Physician, Hospitalist Physician, Pain Management Physician, Finance Services Director, Child & Adolescent Psychiatrist
  • Median income (per capita): $61,617
  • Median income (household): $83,251

Atlanta Real Estate Market Statistics

Atlanta real estate market

  • Neighborhoods: 208
  • Homes for sale as of January 2024: 3,979
  • Median list price: $420K (down 1.08% since September 2023)
  • Median sold price: $415K (down 1% since September 2023)
  • Sale-to-list price ratio: 98.67%
  • Median price per square foot: $267
  • Median days on market: 49 (down 8% since January 2023)
  • Rental vacancy rate: 7.8%
  • Homeowner vacancy rate: 1.8%
  • One-year appreciation rate: .1%
  • Average rent: $1,813
  • Price-to-rent ratio: 15.72
  • Most expensive neighborhoods:

 

Neighborhood Average Monthly Rent Median Listing Price
Randall Mill $3,939 $1,661,661
Club Forest $3,900 $1,576,644
Argonne Forest $2,956 $1,563,116
Arden Habersham/ Wyngate $4.072 $1,531,539
Brookwood Hills $2,930 $1,489,840
  • Least expensive neighborhoods:

 

Neighborhood Median Monthly Rent Median Listing Price
Center Hill $1,889 $196,196
Rosedale Heights $1,619 $159,665
Carey Park $2,006 $202,724
Westlake $1,372 $237,205
Briar Glen $2,296 $237,291

Final Thoughts: Atlanta Real Estate Market Trends in January 2024

The Atlanta real estate market is constantly changing and evolving. But the potential for investors to profit is near-constant. Whether you’re an experienced real estate investor or brand new to the industry, the Atlanta real estate market could provide ample opportunity to build your portfolio.

Get Started Buying Homes With Evernest

Whether you’re purchasing one Atlanta home or one hundred, you don’t have to go it alone.

If you’re ready to buy your first (or next) investment property, here are three steps to get started today:


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