While rental rates and the overall cost of living are rising to untenable heights in many major cities around the United States, Atlanta remains a breath of fresh air for renters. It's easy to find reasonable rent prices in many major neighborhoods, and most cost of living categories hover around the national average. So if you want to live in a big city with all the perks that come with it while enjoying all the lifestyle extras, look to Atlanta.
Apart from the decent rent and cost of living, renters have many other reasons to consider Atlanta a good place to call home. Home to multiple Fortune 500 companies and thriving industries like finance, IT, communications and manufacturing, job seekers have no shortage of options. Atlanta's cultural landscape is also one of the best in the South, with a world-class music scene, phenomenal dining (even for vegans!) and family-friendly activities like museums and city parks that appeal to locals and visitors alike.
With nearly 250 unique neighborhoods to choose from, renters have tons of options from quiet suburban-style districts to bustling, city-center living. Many connect to the Atlanta BeltLine, a 22-mile multi-use trail and light rail system that makes it easy to get around.
To find out if living in Atlanta fits your lifestyle and is the right choice for you, read on to learn more about the average rent in Atlanta and what you can expect to pay and benefit from in different neighborhoods.
The median rent for Atlanta is $1,991, which is slightly higher than the national median rent of $1,983. In terms of percentages, housing prices here are only 0.9 percent above the national average. There is some slight variability depending on unit type, though. The monthly rent for a one-bedroom unit is $1,939, while a two-bedroom jumps significantly to $2,463. A three-bedroom is only $2 more expensive at $2,465.
However, the median rent is down 7 percent from last year. The reason for the slight decline could be part of the nationwide downward trend of housing prices as inflation soars and the U.S. heads for a possible recession in 2023.
Along with housing, most cost of living indexes in Atlanta also hover close to the national average — a refreshing change of pace from the elevated cost of living in other major cities. Here's a breakdown of how the different categories compare to the national average:
As you can see, healthcare is the area that most exceeds the national average. But it's important to take that with a grain of salt, as healthcare costs can vary widely from person to person. When it comes to buying food or paying utility bills, Atlanta residents find themselves paying less than the national average.
Atlanta has a diverse mix of neighborhoods to choose from, with many offering far more affordable rent prices than the citywide average. For those renters with money to spare, there are also plenty of higher-end, pricey districts available.
Let's take a closer look at how prices vary between Atlanta's most expensive and least expensive neighborhoods to give you a better idea of the range most suited to you.
Most of Atlanta's most expensive neighborhoods can be found to the north of the downtown core, with a mix of single-family home districts and new, trendy apartment complexes.
For the most expensive neighborhood in Atlanta, South Tuxedo Park takes the cake. This high-end area, which is known for its stately homes and quiet, residential streets, this neighborhood is where lots of celebrities rent homes while filming around town. However, rents have gone down in South Tuxedo Park over the past year. This stands in stark contrast to other top neighborhoods that have seen prices dip over the past year.
For renters who want a more urban lifestyle, Midtown, Inman Park, Atlantic Station and Marietta Street Artery will be more up their alley. These trendy, modern districts have buzzy food scenes, nightlife, entertainment, shopping and cultural attractions within walking distance.
Similarly, many of the most affordable neighborhoods in Atlanta can be found to the northeast or northwest of downtown. With a median monthly rent of just over $1,500, the family-friendly, residential English Avenue neighborhood is the least expensive area to live in. In comparison to many of the most expensive neighborhoods, which are hip, up-and-coming urban centers and commercial districts, the most affordable neighborhoods are largely residential.
For the most part, rent prices have gone down over the past year in these neighborhoods, with the exception of Martin Manor and Pine Hills.
The most and least expensive neighborhoods in Atlanta represent the extreme ends of rent options here. This complete list gives you a more comprehensive overview of rent prices in different Atlanta neighborhoods.
|Neighborhood||Median Rent||Rent YoY Change|
|East Atlanta Village||$1,819||N/A|
|Lindbergh - Morosgo||$2,156||1.59%|
|Marietta Street Artery||$2,475||15.35%|
|Peachtree Heights West||$2,497||36.34%|
|South Tuxedo Park||$3,190||-13.65%|
Now that you have a better sense of rent prices around Atlanta, you may be wondering if living here fits your annual income. It's recommended that you only spend around 30 percent of your gross monthly income on rent.
With that figure in mind, remember that Atlanta's median rent is $1,991. For that to be only 30 percent of your monthly income, you'd need to make at least $6,636 each month. Annually, that comes out to $79,632.
If you're unsure what your rental budget should be and what you can afford to pay in rent each month, use our rent calculator to crunch some numbers.
Atlanta prides itself on being a diverse city, and that extends to its rental market as well. Renters have a wealth of options for different neighborhoods and price ranges to find the right rental for them. Start looking now to find the right Atlanta neighborhood for you.