April 9th, 2018
The Georgia multi-family and apartment market is showing great returns on investment. Rents are higher than ever and doesn’t show signs of stopping.
The Metro Atlanta rents, as well as the suburban areas surrounding the city, are growing fast. Making it a great time to invest in new multi-family construction or renovating an existing property. According to RentCafe’s Apartment Market Report, the revenue for apartments are on the rise.
In Fayetteville, a 16,000-resident suburb, rents shot up by 16.1% in 2017 — the biggest increase in the metro area
The second highest rent increase in the area was in Stone Mountain, GA, where apartments were 9.5% more expensive in 2017 versus the previous year, closing out the year at $863/month. Lithonia, GA is also getting pricier for renters, with apartment rents up 9.2% for the year, reaching $954/month as of December 2017. Apartment renters in both Forest Park and Conyers experienced 8.2% rent hikes in 2017.
the highest in the metro region, apartments in Chamblee got even more expensive in 2017, increasing by another 7.8%, now renting for $1,285/month. Union City rents were not much behind either, with a 7.6% increase in 2017. Larger and more expensive suburbs like Decatur, Sandy Springs, and Marrietta had more moderate 2-4% increases in rent prices.
The most expensive apartments around Atlanta are in Johns Creek ($1,457), Alpharetta ($1,385), Kennesaw ($1,384) and Sandy Springs ($1,384). Apartments in the city of Atlanta are the sixth most expensive, with an average rent of $1,340.
As a leader in multi-family construction and renovation, SWET Construction Group uses the latest technology, focus on what consumers are looking for and the latest trends to deliver quality solutions to your projects.
We highly recommend that you contact us to discuss your building project. Our professionals will show you, examples and discuss options. We are able to work within your budget and will suggest cost saving options for your project. We specialize in multi-family designs, both interior and exterior projects.