Atlanta, GA Rental Market Trends
Atlanta Rent Report: April 2023
Welcome to the Apartment List April 2023 Rent Report for Atlanta, GA. Currently, the overall median rent in the city stands at $1,518, roughly the same as last month. Prices remain down 1.6% year-over-year. Read on to learn more about what’s been happening in the Atlanta rental market and how it compares to trends throughout the broader Atlanta metro area and the nation as a whole.
Atlanta rents are flat month-over-month and down 1.6% year-over-year
The median rent in Atlanta rose by 0.4% over the course of March, and has now decreased by a total of 1.6% over the past 12 months. Atlanta’s rent growth over the past year has has fallen behind both the state (0.7%) and national averages (2.6%).
Atlanta rent growth in 2023 pacing similar last year
Three months into the year, rents in Atlanta have risen 0.4%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to March 2022 rents had increased 0.1%.
March rent growth in Atlanta ranked #47 among large U.S. cities
Atlanta rents went up 0.4% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #47. Similar monthly rent growth took place in Irvine, CA (0.4%) and Las Vegas, NV (0.4%).
Atlanta is the #40 most expensive large city in the U.S., with a median rent of $1,518
Citywide, the median rent currently stands at $1,512 for a 1-bedroom apartment and $1,511 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,518. That ranks #40 in the nation, among the country's 100 largest cities.
For comparison, the median rent across the nation as a whole is $1,158 for a 1-bedroom, $1,327 for a 2-bedroom, and $1,350 overall. The median rent in Atlanta is 12.4% higher than the national, and is similar to the prices you would find in Colorado Springs, CO ($1,528) and Irving, TX ($1,488).
Atlanta rents are 1.2% lower than the metro-wide median
If we expand our view to the wider Atlanta metro area, the median rent is $1,536 meaning that the median price in Atlanta proper ($1,518) is 1.2% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at 0.2%, above the rate of rent growth within just the city.
The table below shows the latest rent stats for 25 cities in the Atlanta metro area that are included in our database. Among them, Johns Creek is currently the most expensive, with a median rent of $2,258. Cumming is the metro’s most affordable city, with a median rent of $1,310. The metro's fastest annual rent growth is occurring in Clarkston (7.2%) while the slowest is in Cumming (-5.1%).
You can also use the map below to explore the latest rent trends in the Atlanta metropolitan area.
Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.
Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.
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