Atlanta Is a Prime Renting City Due to Steady Income Growth, Below Average COL

Tuesday, July 9th, 2024

Atlanta beat 147 other cities in becoming the second-best city for renters of 2024 - and it’s undoubtedly a fierce competition, with no less than 20 metrics factored in for this ranking. Atlanta shines in local economy and housing.   

Here’s what propelled Atlanta to the top in each category, based on the 2024 Best Cities for Renters Report: 

  • Local economy #4 

Renters in Atlanta saw a 44.6% income increase in the span of five years, all while the local business environment is thriving, evidenced by the second highest number of yearly business applications (472). At the same time, there was a 1% job growth in Atlanta. 

  • Cost of living and housing #9 

Apartments in Atlanta boast a large floorspace averaging 972 square feet, while 69% of apartments for rent are high-end. Renters’ satisfaction with housing and amenities in Atlanta is shown by the 4.1 stars ratings on Moreover, Atlanta’s cost of living is 1.4% below the national average. 

  • Quality of life #23 

Add in the 44.3% of apartments for rent in top locations, with easy access to public transport and malls, grocery stores, parks, etc. and you’ve got yourself a magnet for renters. Plus, the use of city transit or walking to get around is at 10%, the highest share among American cities the size of Atlanta (around half a million people). 

  • Why isn’t Atlanta first? #1 Charleston, SC, boasts the highest job growth (4.1%) among the 149 cities analyzed, that’s four times higher than in Atlanta. Plus, the unemployment rate in the city (3.7%) is below the national average. Moreover, a third (32.5%) of rentals in the city are newly built, while a lower market competitivity makes it easier for renters to find a place in Charleston compared to Atlanta.

Check out Atlanta’s scores for all the metrics and how it compares to other cities in our full report: