Real estate means real property, including lands, buildings, trees, etc. Real estate investment, in simple terms meaning investing in a particular land to generate income.
When someone invests in real estate, they use it for other purposes like rental rather than as a primary residence. Atlanta’s real estate market has constantly been growing both in the metro area and in the suburbs.
Further, it is the 14th largest as ranked by GDP. Also, it is the 9th largest metropolitan city in the USA, and it has more than 5.5 million population. Thus, making it a good time and an excellent place to invest.
Here are eight reasons why it is a good time to invest in the Atlanta real estate market:
1. Population growth
Atlanta has nearly 6.1 million residents at present, and its population growth is increasing. It is surveyed that there will be a population of over 8.6 million in the next 30 years. The population in Atlanta makes it a place where it always needs housing. This makes up for a perfect reason to invest in Atlanta’s real estate now.
2. Job market in Atlanta
Atlanta is home to various companies like Coca-Cola Company, Delta Airlines, UPS, etc., thus offering many opportunities. The unemployment rate in Atlanta is 5.3 %, and the job market in Atlanta has increased by 2.9%. The income of an average Atlanta resident is$35,719 each year.
The future job growth in Atlanta is 46.8% which is practically more than USA’s, and that is 33.5%. The income per capita in Atlanta is $40,595. Thus, it can be understood that Atlanta is indeed a strong economy, making it the perfect time for real estate investors to invest.
3. Life in Atlanta
Atlanta has gotten a high rating for living, nightlife, schools, and diversity from Niche.com. Also, it is known from a survey that it is indeed a great place to live and retire. Thus, making the demand for rental property strong. Also, Hartsfield- Jackson Atlanta International Airport is in Atlanta, and it is the busiest airport around the globe. There are more than 30 universities and colleges. Forbes has ranked Atlanta as one of the best places for careers and business in the US. Thus, investing in real estate in Atlanta can be a good choice.
4. Major employers
Atlanta serves as a home to major companies like AT and T, Coca-cola, and delta. These companies keep offering jobs to people, leading to a huge number of people coming to Atlanta for work. Atlanta keeps on growing and keeps on attracting people around the globe. The company employers hire employees from different countries every year.
5. Rental market
Atlanta has a strong rental market. The majority of new residents are aged between 26 to 36 years old. They are going to Atlanta with good job opportunities, and they will not buy properties. So, investing in real estate now can be profitable.
Atlanta also serves as a good place for family living. It has cottages and beautiful buildings, and families love to invest in those. There are good colleges, schools, and universities that can attract students. Atlanta is metropolitan and has greenery, making it an excellent rental place. With the growing economy, this can be a good time for real estate investing.
7. Best time to buy a house
January to March or April is a good time to buy or rent a house in Atlanta. Most people are engaged in social activities due to the vacation, which gives less competition in the market. So people try to rent at this time of the year to get a good deal. Thus, making it a good time to invest.
8. Technology and Development
Atlanta serves as a center of Information Technology, which leads to the need for employees for several high-tech jobs. Thus, people are coming from worldwide for good job opportunities, which makes the rental market strong. Also, new projects are being put in the development phase, like baseball stadiums and football stadiums.
So, it is a good time for investing in real estate in Atlanta. The housing market, compared to other cities like San Francisco, etc., is reasonable.