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Atlanta Rents Stay Strong in Second Quarter

by Peter Thomas Ricci

How has Atlanta’s rental market developed in 2015’s second quarter? New data from Reis provides some perspective.

atlanta-economy-2015-wells-fargo-housing-market

Atlanta’s rental market has been one of the hottest in the nation, and new numbers from Reis on the second show show that trend continues.

The graph below shows the effective rent growth from 2015’s first quarter to the second quarter:

Effective-Rent-Growth

At 1.4 percent, Atlanta’s rental growth was the third-strongest among large metro areas. That growth, however, has not yet translated into high rents, a fact the next graph indicates:

Effective-Rent-Growth

At $869, Atlanta’s average rent is the second-most affordable of large metro areas, and it far below Boston’s $1,939, San Francisco’s $2,316, or most of all, New York’s eye-popping $3,294.

Finally, here is a graph showing the longer-term effective rent growth over the last year:

Effective-Rent-Growth

Similar to its quarterly growth, Atlanta’s rental market posted strong increases over last year, its 4.4 percent increase the fifth strongest among large metro areas.

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