Atlanta Rent Report: April 2024

Welcome to the Apartment List April 2024 Rent Report for Atlanta, GA. Currently, the overall median rent in the city stands at $1,535, after rising 0.7% last month. Prices remain down 5.3% 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 up 0.7% month-over-month and down 5.3% year-over-year

The median rent in Atlanta rose by 0.7% over the course of March, and has now decreased by a total of 5.3% over the past 12 months. Atlanta’s rent growth over the past year has has fallen behind both the state (-3.7%) and national averages (-0.8%).

Atlanta rent growth in 2024 pacing similar last year

Three months into the year, rents in Atlanta have risen 0.8%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to March 2023 rents had increased 0.5%.

March rent growth in Atlanta ranked #37 among large U.S. cities

Atlanta rents went up 0.7% in the past month, compared to the national rate of 0.6%. Among the nation's 100 largest cities, this ranks #37. Similar monthly rent growth took place in Raleigh, NC (0.7%) and San Diego, CA (0.6%).

Atlanta is the #41 most expensive large city in the U.S., with a median rent of $1,535

Citywide, the median rent currently stands at $1,539 for a 1-bedroom apartment and $1,540 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,535. That ranks #41 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,220 for a 1-bedroom, $1,374 for a 2-bedroom, and $1,388 overall. The median rent in Atlanta is 10.6% higher than the national, and is similar to the prices you would find in Portland, OR ($1,539) and North Las Vegas, NV ($1,523).

Atlanta rents are 3.6% higher than the metro-wide median

If we expand our view to the wider Atlanta metro area, the median rent is $1,481 meaning that the median price in Atlanta proper ($1,535) is 3.6% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at -4.2%, above the rate of rent growth within just the city.

The table below shows the latest rent stats for 23 cities in the Atlanta metro area that are included in our database. Among them, Suwanee is currently the most expensive, with a median rent of $1,918. Conyers is the metro’s most affordable city, with a median rent of $1,190. The metro's fastest annual rent growth is occurring in Lithia Springs (2.3%) while the slowest is in Sandy Springs (-7.0%).

You can also use the map below to explore the latest rent trends in the Atlanta metropolitan area.