Atlanta May Not Be Keith Lee’s Pick For Top Restaurants, But ATL Does Rank Among Forbes’ Top Cities For Renters In 2023
Amid debates as to whether Atlanta is becoming too crowded, a new report by Forbes on Oct. 24 suggests that the city’s rental market might be one of the compelling factors drawing people in. Recently, Forbes released its “Best Cities for Renters of 2023,” and Atlanta has proudly secured its place within the top 15 cities.
With Atlanta’s population surpassing a staggering 6.1 million, it’s worth noting that the metro area has become a significant magnet for residents, while the entire state of Georgia counts just over 11 million inhabitants. When Forbes delved into the best cities for renters, Atlanta comfortably ranked at No. 13 on its list.
“We evaluated the 96 most-populated U.S. cities with available data across 23 different metrics to uncover the best cities for renters. We considered average rental prices and unit sizes for one- and two-bedroom rentals, the year-over-year percentage change in average rent, the percentage of renters who are rent-burdened, crime rates, the percentage of dog-friendly rentals, amenities, and other metrics to identify the best cities to rent in,” Forbes stated as to its methodology for the study.
The report indicates that the average cost of a one-bedroom apartment in Atlanta is $1,535, reflecting a 2.9 percent decrease from the previous year. Those statistics demonstrate a favorable situation for renters in the city.
Topping this year’s list of best cities for renters was Chandler, Arizona. Notably, Atlanta was the sole representative from the Southeast to make the list, underlining its desirability among those looking for rental accommodations.
In contrast, the unfortunate distinction of being the lowest-ranked city went to Newark, New Jersey. Forbes attributed Newark’s unfavorable ranking to its high percentage of rent-burdened households, which stands at a significant 56 percent, as well as the small average unit sizes available for renters.
In summary, Atlanta’s prominence as the 13th best city for renters reaffirms the city’s allure in the rental market. With favorable rental prices and an array of available amenities, it’s no surprise that Atlanta continues to draw new residents despite concerns about overpopulation.