If you look at the recent past, Atlanta has been one of the fastest-growing metro areas in the nation, and Atlanta was one of three metros in the country to add more than 1 million people over the last decade. According to Forbes, Atlanta is in the top 20 housing markets in the country with property values expected to increase by at least 17% by 2020. The average home price in Atlanta is currently $213,000. With a population of 5,614,323 expected to grow by 4.7% in the next three years, and with a job growth expectation of 2.7% year over year, the home price growth is expected to be 8% year over year. Better yet, currently Atlanta's housing market is undervalued by 17% making purchasing now a great investment.
Home prices have followed the economy: a big bust, a spurt of speculation in foreclosed property, and now moderate increases that have upside potential. There is an expected 20 percent rise in prices over the next three years, but it could be more as demand runs up against the limited supply. The biggest increases are likely in Forsyth and Cherokee Counties, the smallest is projected to be in Clayton County.
Fulton, Clayton and DeKalb Counties have a high proportion of renters - close to half - which makes them the best candidates for investments in rental properties. The ratio of high rents to low home prices is especially favorable in Clayton. The strongest population growth has been in Forsyth, but it doesn't have many renters. In Gwinnett County, higher home prices and higher rents encourage investments in apartment properties and favor cutting single-family homes into multiple rental units.