Georgia Rents Up 4.6% in Past Year
Friday, August 7th, 2015
The Peach State remains one of the nation’s most affordable places to live, though rent prices continue rising faster than national averages. In this report, we’ll be looking at trends across the whole state as well as variations between cities.
Georgia rent prices
In Georgia, 1 bedroom rents increased by 0.1% and 2 bedroom rents increased by 0.5% between June and July. They are now up 6.5% and 4.6% over last year at average prices of $840 and $870, respectively. These rents are both lower than the respective national averages, although Georgia is showing faster annual growth for both 1 and 2 bedroom apartments. The state’s 1 bedroom rent is $210 less or 20% lower than the national average price of $1050, while 2 bedroom rents are $230 less or 21% lower than the national average of $1100.
Top 10 most expensive cities
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Johns Creek: Johns Creek was the most expensive city, with a 2-bedroom median price of $1500. Johns Creek had a year-to-year growth of 4.9% over July 2014.
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North Atlanta: North Atlanta was the 2nd most expensive city, with a 2 bedroom median rent price at $1370. Rents are up 1.2% month-to-month and 9.3% year-to-year based on 2 bedroom units.
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North Decatur: North Decatur had the 5th highest rents in July for 2 bedrooms, with a median price tag of $1320. Additionally, North Decatur saw the 4th highest growth over last year for 2 bedrooms at 11.2%.
Top 10 cities with the fastest rent growth
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Austell: Austell ranked as the city with the fastest annual rent growth at 16.5%, according to 2 bedroom figures. A 2 bedroom in Austell carries a median price tag of $700, while a 1-bedroom goes for $720.
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Cumming: Cumming had the 3rd fastest growth rate at 11.8%. A 2 bedroom in Cumming goes for a median price of $1120, while a 1 bedroom in Cumming costs $1100.
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North Decatur: North Decatur shows the 4th fastest growth rate at 11.2% for 2 bedroom rents. The median price for a 1 bedroom in North Decatur is $1060, while a 2 bedroom goes for $1320.
Full data:
City Avg Price – 1 Bed MM Change – 1 Bed YY Change – 1 Bed Avg Price – 2 Bed MM Change – 2 Bed YY Change – 2 Bed Johns Creek $1,200 1.4% 8.2% $1,500 1.2% 4.9% North Atlanta $1,060 1.4% 9.3% $1,370 1.2% 9.3% Dunwoody $1,130 -1.2% 9.7% $1,340 -0.1% 4.3% North Druid Hills $1,020 -1.5% 4.0% $1,320 2.3% 7.1% North Decatur $1,060 1.7% 8.1% $1,320 1.4% 11.2% Suwanee $1,020 2.6% 9.5% $1,300 2.0% 9.8% Atlanta $1,100 0.0% 6.6% $1,300 0.7% 5.4% Peachtree City $1,020 -3.7% 6.4% $1,290 -5.1% -3.5% Milton $830 0.0% 0.0% $1,280 0.0% -0.3% Alpharetta $1,090 -0.6% 12.1% $1,260 2.9% 10.0% Vinings $1,030 -0.1% 1.9% $1,220 -0.1% -2.2% Sandy Springs $960 -1.3% 7.8% $1,180 0.8% 9.5% Pooler $920 0.0% 0.0% $1,140 0.0% 0.0% Cumming $1,100 -1.6% 7.6% $1,120 1.1% 11.8% Buford $890 1.1% -1.2% $1,080 0.4% -5.8% Woodstock $920 -0.4% 10.3% $1,050 1.3% 6.9% Kennesaw $900 1.1% 9.0% $1,040 -1.4% 4.9% Roswell $930 2.6% 8.6% $1,010 0.3% 8.1% Duluth $870 -0.5% 8.9% $1,000 0.7% 8.1% Savannah $910 2.3% 5.1% $990 -1.2% -1.6% Smyrna $910 1.4% 6.3% $990 1.1% 8.3% Newnan $860 1.4% 8.6% $970 2.5% 9.0% Loganville $930 4.6% 16.4% $940 -0.2% 9.1% Canton $910 -0.7% 10.1% $930 -2.7% 4.1% Georgetown $810 0.0% 0.0% $930 0.0% 0.0% Lilburn $890 0.1% 4.9% Doraville $770 2.5% 21.9% $890 3.7% 10.8% Decatur $830 4.4% 11.1% $880 1.6% 5.3% Acworth $640 -1.8% 5.4% $880 -1.2% 2.3% Tucker $740 2.5% 14.8% $870 3.1% 15.7% Marietta $770 0.0% 9.6% $870 -0.5% 6.9% Lawrenceville $750 -0.6% 5.7% $860 -0.2% 6.5% Mableton $600 0.0% 0.0% $850 0.0% 0.0% Scottdale $680 0.6% 2.7% $830 1.6% 0.5% Lithonia $750 2.2% 6.4% $810 2.2% 7.1% Gainesville $750 -1.2% 3.7% $810 -3.3% 0.4% Stockbridge $700 0.4% 7.8% $800 -0.4% 5.1% McDonough $750 -0.1% 8.3% $800 -1.8% 3.9% Norcross $700 2.3% 9.2% $800 1.3% 5.7% Cartersville $600 0.0% 0.0% $800 0.0% 0.0% Riverdale $630 0.5% 6.4% $790 0.5% 6.3% Lithia Springs $650 -2.6% -3.1% $760 -3.0% -3.5% Douglasville $740 0.2% 7.5% $730 -0.3% 6.5% Clarkston $610 0.0% 12.5% $710 -0.8% 6.6% Conyers $740 1.5% -3.3% $700 -2.2% -6.0% Austell $720 -2.4% 5.9% $700 6.1% 16.5% Warner Robins $550 -16.3% 1.7% $690 -2.8% -1.7% Athens-Clarke County unified government (balance) $590 1.0% 2.0% $690 4.3% 4.8% Stone Mountain $580 -2.2% -3.4% $680 -0.3% -0.7% East Point $560 1.8% 4.5% $680 1.0% 0.5% Augusta $610 -1.6% 0.2% $660 -0.9% -0.2% College Park $550 0.0% 5.1% $660 0.0% 3.3% Union City $560 1.6% -0.7% $650 -1.1% -3.7% Jonesboro $510 0.0% 6.9% $650 0.8% 6.7% Columbus $530 -0.5% 0.1% $650 -0.8% -1.0% Macon $540 0.0% 1.3% $620 0.7% 2.7% Covington $520 0.0% 0.0% $570 0.0% -1.8% Forest Park $490 0.3% 6.6% $570 1.0% 2.4% Valdosta $400 0.0% 0.0% $550 -1.6% -1.4% Griffin $490 0.0% 0.0% $540 -0.2% -2.4% LaGrange $290 0.0% 0.0% $480 0.0% 0.0% Albany $370 0.7% 1.7% $400 0.0% 0.3%