What Are the Best Neighborhoods in Georgia for Rental Properties?
Some of the best neighborhoods in Georgia for rental properties include Midtown Atlanta, Decatur, Savannah Historic District, Athens, and Alpharetta. These areas have high demand from students, young professionals, and families looking to rent. They are located near major universities and job centers. The neighborhoods are walkable and have access to dining, entertainment, and public transportation.
What Are the Average Rental Prices in the Best Neighborhoods for Rental Properties in Georgia?
Rental prices in top Georgia neighborhoods range from around $1,000 for a 1-bedroom apartment to over $2,500 for a 3-bedroom single family home. For example, in Midtown Atlanta average rents are about $1,500 for a 1-bedroom and $2,100 for a 2-bedroom. In Decatur, average monthly rents are around $1,300 for a 1-bedroom and $1,700 for a 2-bedroom.
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Which Neighborhoods in Georgia Have the Highest Rental Prices?
Some of the Georgia neighborhoods with the highest rental prices include Buckhead in Atlanta, Downtown Savannah, and parts of Athens near the University of Georgia campus. In Buckhead, average monthly rents for a 1-bedroom are around $1,800 and $2,600 for a 2-bedroom. Downtown Savannah sees average rents of $1,500 for a 1-bedroom and $2,200 for a 2-bedroom. Rents near the UGA campus in Athens can reach $1,000 for a 1-bedroom and $1,500 for a 2-bedroom.
What Factors Contribute to the High Rental Prices in Some Georgia Neighborhoods?
Several factors drive up rental prices in certain Georgia neighborhoods:
– Prime locations near major job centers like Atlanta and Savannah
– Proximity to top universities like UGA and Georgia Tech
– High demand from students and young professionals
– Limited housing inventory and new construction
– Desirable amenities like walkability, dining, and entertainment
– High home prices make renting more attractive
How Have Rental Prices in Georgia Changed Over the Past Decade?
Rental prices across Georgia have increased significantly over the past decade. From 2010 to 2020, average rents in Atlanta rose over 40%. Other cities saw similar growth, with rents in Savannah rising 35% and rents in Athens rising 31% over the decade. Overall, low vacancy rates and high demand have put upward pressure on rents across the state.
What Is the Highest and Lowest Rental Price for a Single-Family Home in Georgia?
For single family rental homes in Georgia, prices range widely based on location, size, amenities and other factors. On the high end, luxury 5-6 bedroom homes in Atlanta’s Buckhead neighborhood can rent for $5,000-$10,000 per month. On the low end, some small 2-3 bedroom homes in rural parts of the state might rent for $800-$1,000 per month. The average rental price for a 3-bedroom single family home in Georgia is around $1,500-$2,000 per month.
Conclusion
Rental demand is strong across Georgia, especially in neighborhoods near major job centers and universities. Average rents have risen steadily over the past decade. Investors should consider Atlanta neighborhoods like Midtown and Buckhead as well as college towns such as Athens and Savannah for stable, long-term rental property investments.