Report: Fastest growing rents are in East Atlanta
Online apartment finder RentCafe.com completed a report on Atlanta’s rent growth and discovered that East Atlanta has the fastest growing rents in the metro.
While Midtown and Buckhead would be the obvious choices for more expensive lease options, rents in zip code 30316 went up 13.5 percent, from $926 per month the year before to $1,051 per month now.
From the RentCafe report: “Dubbed one of the hottest parts of Atlanta, it has had an influx of millennials and baby boomers alike, thanks to its lively streets, lots of entertainment and some great (and still affordable) housing options.”
Just behind East Atlanta is Kirkwood (zip code 30317), with a 9.5 percent increase, from $958 to $1,049.
Meanwhile, rents went down in affluent zip codes 30327 (-2.2 percent) and 30305 (-1.5 percent), covering the neighborhoods of Buckhead and Peachtree Hills, where quite a few new residential buildings have opened up in the last year to the point that renters have gained some bargaining power.