Attention real estate investors: Atlanta is the country’s “best real estate investment opportunity in 2017,” according to online real estate investment management firm HomeUnion.
And how did HomeUnion come to that decision?
1. More jobs are coming – Economists are expecting strong employment growth in Atlanta this year, a result of the area’s strong growth in the technology and financial services sectors. According to HomeUnion’s report, by December, the city is projected to have added 75,000 positions – an increase of 2.8 percent, which is higher than national projections.
2. Fewer vacancies, higher rent – As far as investors are concerned, Atlanta is hitting its stride. By year’s end, the city’s single-family-rental vacancy rate is supposed to hit 5.1 percent, which would equate to a 1.2 percentage point decline from 2016. At the same time, experts are anticipating rents to increase by about 3.5 percent, which would put that at $1,323 by December – meaning higher monthly returns for investors who purchase early in the year. HomeUnion reported that as far as high-yield markets go, Atlanta is in the top five.