Prices to Rent in Georgia Rising
Monday, February 23rd, 2015
Welcome to the January 2015 Georgia Rental Price Monitor! The Peach State remains one of the nation’s most affordable places to live, though rent prices continue rising a bit faster than national averages. In this report, we’ll be looking at trends across the whole state as well as variations between cities.
Georgia vs. the US
In January, a 1 bedroom in Georgia averaged $720 and a 2 bedroom averaged $780. That means that Georgia rents are 18% or below the national average of $950 based on 2 bedroom units.
While a 2 bedroom in Georgia cost 5.3% more in January 2015 than January 2014, national averages are up just 2.9%.
Top 10 Most Expensive Georgia Cities
- Dunwoody is the most expensive city in Georgia. In the suburb north of Atlanta, 1 bedrooms averaged $1130 and 2 bedrooms averaged $1330 in January. That’s 40% pricier than nationwide averages and 75% above statewide averages.
- Five more Georgia cities have 2 bedroom prices that average above $1000 a month: Alpharetta ($1270), North Druid Hills ($1190),Atlanta ($1060), Sandy Springs ($1060) and Kennesaw ($1020).
- Rounding out the list of Georgia’s 10 most expensive cities isSmyrna, northwest of Atlanta. A 1 bedroom here averages $730 a month, or just $10 above statewide averages, while a 2 bedroom costs $870, or $90 above Georgia averages.
Top 10 Georgia Cities with Fastest Growing Rents
- Tucker—an affordable suburb northeast of Atlanta—has seen the fastest year-over-year growth based on 2 bedroom prices, with rent up 14.6% to an average of $860. That’s 2.4 times statewide growth and nearly five times national growth.
- Alpharetta and Sandy Springs also posted double-digit growth based on 2 bedroom prices, with rent up 12.6% and 10.1%, respectively. That growth slowed a bit in January, with 2 bedroom prices in Sandy Springs falling by 0.2% from the month before.
Full Data:
| City | Median Price (1BR) | M/M Change (1BR) | Y/Y Change (1BR) | Median Price (2BR) | M/M Change (2BR) | Y/Y Change (2 BR) |
|---|---|---|---|---|---|---|
| Dunwoody | $1,130 | 2.1% | 8.7% | $1,330 | -0.1% | 6.4% |
| Alpharetta | $990 | 0.1% | 11.0% | $1,270 | 1.7% | 12.6% |
| North Druid Hills | $970 | 0.8% | 6.2% | $1,190 | -0.3% | 7.1% |
| Atlanta | $970 | 0.2% | 6.0% | $1,060 | 0.3% | 6.5% |
| Sandy Springs | $880 | 1.2% | 11.7% | $1,060 | -0.2% | 10.1% |
| Kennesaw | $820 | 0.3% | 6.0% | $1,020 | 0.5% | 8.1% |
| North Atlanta | $780 | 0.9% | 6.9% | $940 | -0.3% | 4.3% |
| Roswell | $780 | -1.1% | 8.5% | $900 | -0.7% | 8.6% |
| Duluth | $770 | -0.2% | 11.1% | $880 | -1.8% | 8.3% |
| Smyrna | $730 | 0.8% | 6.2% | $870 | 1.5% | 6.6% |
| Tucker | $700 | 3.3% | 11.5% | $860 | 4.7% | 14.6% |
| Newnan | $770 | 0.5% | 6.6% | $860 | 0.7% | 6.5% |
| Marietta | $720 | 0.9% | 9.0% | $820 | 1.7% | 9.4% |
| Lawrenceville | $720 | 1.0% | 11.1% | $820 | 0.9% | 9.8% |
| Savannah | $840 | -0.3% | 2.0% | $820 | -0.9% | 0.3% |
| Douglasville | $740 | 0.9% | 7.9% | $780 | 0.5% | 8.5% |
| Norcross | $660 | -0.3% | 8.4% | $770 | 0.7% | 8.2% |
| Stockbridge | $690 | -1.0% | 6.9% | $760 | -2.3% | 2.4% |
| Hinesville | $530 | 0.0% | 2.3% | $720 | 0.6% | 5.1% |
| Augusta | $580 | 0.4% | 3.1% | $720 | -1.4% | -1.0% |
| Riverdale | $550 | -1.2% | 4.3% | $710 | 2.7% | 5.8% |
| Decatur | $600 | 0.3% | 5.0% | $710 | 1.2% | 4.9% |
| Columbus | $590 | 0.6% | 1.9% | $670 | 0.5% | 2.0% |
| East Point | $530 | -0.3% | -1.7% | $660 | -1.8% | -4.5% |
| Macon | $560 | 0.6% | 4.2% | $650 | 0.9% | 3.9% |
| Stone Mountain | $520 | -3.7% | 0.0% | $650 | -2.6% | -0.9% |
| Jonesboro | $560 | -2.0% | 0.7% | $640 | -0.1% | 4.2% |
| Athens | $570 | 0.0% | 1.6% | $620 | 1.0% | 0.8% |
| Valdosta | $550 | -1.6% | 7.6% | $560 | 0.2% | 0.9% |
| Albany | $440 | 0.7% | 9.1% | $490 | 0.1% | 2.0% |
