Atlanta Among Top Spots for Migrating Renters
Thursday, April 22nd, 2021
Despite a relative slowdown in the first half of last year, renter activity in Atlanta resumed in the second half and has been steadily building its way back up.
Atlanta received the nation’s 17th largest number of renter applications in 2020. That’s according to our most recent mobility report where we zoomed in on approx. 1.7 million renter applications nationwide to search for renter migration patterns.
Key findings from the report on Atlanta’s apartment market include:
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64% of new renters were already based in Georgia, and 57% of them came from suburban areas.
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The most frequent originating cities for movers are Marietta, Decatur and Smyrna.
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The no. 1 out-of-state originating city for renters interested in Atlanta is New York City, followed by Chicago and Charlotte.
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48% of the renters interested in relocating to Atlanta applied for more spacious homes with Buckhead and Cumberland attracting the most interest.
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Millennials were by far the largest share of renters headed to the city, 57%, followed by Zoomers (20%).
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The typical apartment renters landing in Atlanta (50%) had an income between 30K-65K, while 32% were in the 65K-100K and above income brackets.
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With unemployment dropping by six points from April to December 2020 and the average size for apartments at a comfortable 954 square feet, Atlanta is definitely a relocation option to be taken into consideration.
Please see the full report to explore trends for major cities around the country, as well as expert opinions on renters' moving patterns, here:https://www.storagecafe.com/