Rents Rising Faster in Atlanta than National Average
As metro-Atlanta housing values continue to plummet, rental rates are on their way up.
Nationwide, rents increased 4.4% in the first quarter to an average of $865 a month, according to a new TransUnion report.
But Atlanta outpaced the national trend, says Steve Roe, a vice president with TransUnion’s rental screening division.
“Atlanta was really the only market that saw a significant rise. It increased over 6%.”
TransUnion puts Atlanta’s average rental price at $783, still below the national average.
Meanwhile, vacancy rates are at a 10-year low.
That means apartment managers are becoming more selective when renting units, and tenants are having to put down bigger deposits.
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