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Are Midtown Atlanta Rental Rates too High?

As the Atlanta housing market attempts to regain stability after a long winding road, one chief concern for insiders of the local real estate market is pricing. Specifically, pricing in Midtown. While the target demographic of the Midtown Atlanta area is millennials, the price point for renting in the neighborhood is not in line with millennial salaries. In fact, even the top paying salaries for recent graduates is still a stretch for comfortable living.

Atlanta is the last of nine markets the company is involved in to see the condo product reemerge. In a recent progress report, Atlanta Intown Paper counts no fewer than 37 projects in development from Emory to downtown to the Westside, but how much of this new housing will be affordable for millennial budgets? Rental rates remain unclear, though the need for affordable multi-family housing is not news to anyone’s ears. The question now is if something will be made that fits the bill. Moving to Atlanta is gaining in popularity among the graduate set, it’s just a matter of where in the city they can live.

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