*The rent is reportedly too damn high in Atlanta and the prices are rising rapidly, according to companies tracking housing data.
Here’s more from the Atlanta Constitution Journal:
Last month’s average rent in metro Atlanta was $1,488 — up 17% from the same month a year ago, twice the national average increase, according to RealPage, a Richardson, Texas-based firm that sells real estate software and analysis. Rent in July alone was up 3% from June, outpacing the 2.2% increase nationally. The fastest growth was in Phoenix, where rents jumped 21.6% in the past year. Atlanta also ranked behind West Palm Beach, Las Vegas and Tampa and Jacksonville.
The article goes on to note that in the suburbs of Duluth and Marietta rents rose 20%, according to Zumper, a San Francisco apartment listing company.
Per the report, in the city of Atlanta, the average cost for a one-bedroom apartment is $1,600 a month and $2,080 for two bedrooms.
“On a national basis, Atlanta is a real bargain on rentals,” said real wastage agent John Adams.
“Interest rates are so low,” he said. “Lock-in housing payment at a low-interest rate for years to come,” he said.
Below is a list of average rents for a two-bedroom apartment, as reported by AJC:
Sandy Springs: $1,900