Atlanta, Georgia 2021-05-12 02:50:00 –
Atlanta (CBS46)-A new report from a leading software and analytics provider for the real estate industry suggests that rents in Metro Atlanta are skyrocketing.
According to RealPage, nationwide rents are likely to continue rising as the local economy resumes after the pandemic shuts it down.
The report noted that Metro Atlanta showed the strongest rent growth in more than a decade.
According to the report, rents in Metro Atlanta rose 1.9% in April. Metro rents have risen 8.5% on an annual basis, another good performance in the past.
The average monthly rent for the Atlanta Metro is $ 1,370, compared to the national average of $ 1,453.
“This turnaround in rent increases arrives at the beginning of the prime lease season. According to a RealPage spokeswoman, most household relocations tend to occur during the April-September time frame.
Compared to other metropolitan areas, the pain in the wallet was great for the borrower.
The study showed rent increases of more than 2% in the Austin, Las Vegas, Orlando, Salt Lake City, Tampa, Raleigh / Durham and Jacksonville markets. Denver and Atlanta recorded a 1.9% monthly rent increase.
According to the report, the news isn’t all bad for some top market renters.
“San Francisco rents are still down 18.3% year-on-year, but annual price cuts in San Jose and New York are close to 14%.
Seattle’s annual loss was 6%, with a 4% to 5% year-over-year decrease in Auckland, Boston and Washington, DC, according to a spokeswoman.
Click to view the full report Here..
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Study: Metro Atlanta rent prices are surging as economies reopen | News Source link Study: Metro Atlanta rent prices are surging as economies reopen | News