The median rent for an Atlanta apartment increased for the seventh straight month in June, rising 2.8% month over month and 10.8% year over year to $1,290 for a one-bedroom unit and $1,298 for a two bedroom, Apartment List reported, citing its July 2021 Atlanta Rent Report.
Atlanta’s annual rent growth lags the statewide average of 14.8% but is ahead of the national average of 8.4%, Apartment List said in a press release.
Of the 10 cities in the Atlanta metro area that Apartment List monitored, rents rose at the fastest annual pace in Newnan, with a year-over-year gain of 30.7% to $1,443 for a two-bedroom and $1,375 for a one-bedroom.
Alpharetta had the overall most-expensive rents in the area, with a $1,840 two-bedroom median rent and a $1,540 one-bedroom price point.
Atlanta’s sharp rent growth compares to more modest increases or even decreases nationwide. Rents fell 10.2% year over year in San Francisco, 3.9% in Seattle and 3.7% in Washington, D.C., according to Apartment List.