Earlier this year, the Atlanta-Sandy Springs-Roswell metropolitan area was ranked the No. 3 fastest growing metro area in the country based on data from the U.S. Census Bureau. New U.S. Census data reports that the Atlanta metro area will outgrow larger metro areas around the nation. According to The Atlanta Journal-Constitution, at the pace the Atlanta metro area is growing, it will overtake Philadelphia and become the eighth-largest U.S. metro area by 2022.
In 2017, 89,000 new residents moved to the Atlanta region, making the growth rate 1.5 percent, which is higher than most of the cities in the top ten American metro areas, including New York, Los Angeles and Chicago.
The census data also found that diversity in the Atlanta area is increasing. There was a 2.5 percent increase in the area’s black population, 4.5 percent in the Asian population and a 7.8 percent in the Hispanic population. There was only a 0.6 percent increase for the white population.
Currently, the Atlanta metro area population is 5.8 million, which is still lower than Philadelphia’s 6.1 million. Both cities are considerably lower than the 20.3 million population in the New York City area.
With Atlanta’s population increase comes worried on the city’s transportation and housing market.
According to the Mike Alexander, director of the center for livable communities at the Atlanta Commission, the area continues to invest in transportation infrastructure, like the $100 million the state is spending on transit buses.
For housing, it’s harder for homebuyers to find reasonably priced homes. From May 2017 to May 2018, the median sales for home prices increased 10 percent in the Atlanta area. According to Atlanta Realtors President Bill Murray part of the pricing problem comes from lack of inventory in the Atlanta’s housing market.