While most people would bank on the neighborhoods around Atlanta’s BeltLine to be the hottest in the upcoming year, another location might be the one to watch. HotPads – an apartment and home rental search website – released its predictions for Atlanta’s hottest neighborhoods in 2018, with Peachtree Heights West topping the list. The website notes that rising rents and home values in this area are what put it on top.
“Rising rents and home values make it extra hot for 2018, and less price cuts in this neighborhood indicate listings fly off the market,” the website notes.
According to HotPads’ findings, Peachtree Heights West currently has a median rent of $1,758, and the website predicts home values there will rise 2 percent next year.
“There are almost 12 percent fewer price cuts on listings in the Peachtree Heights West neighborhood this year compared to last year, signaling growing demand in the area,” HotPads reported. “Monthly rent in Peachtree Heights West is $225 more than monthly rent in the city of Atlanta as a whole, with home values projected to increase 2 percent in 2018.”
See the top 10 hottest neighborhoods below.
|Rank||Neighborhood||Neighborhood Median Rent||Rent Appreciation Ranking||Home Value Forecast||YoY Change of Listings with a Price Cut|
|1||Peachtree Heights West||$1,758||41||2%||-11.8%|
|5||Old Fourth Ward||$1,690||32||5%||-4.1%|