Eight Renters Are Competing for Each Available Atlanta Apartment, a RentCafe Report Finds
Eight applicants are competing for each available apartment in the city of Atlanta, according to RentCafe's Rental Competitiveness Report as covered by Urbanize Atlanta on Oct. 8. The report, which looks at April through June, ranks Atlanta 33rd of 139 U.S. markets, up 19 spots from last year, and found the city added no new apartment projects in that period. Units lease in an average of 44 days and the lease renewal rate rose to nearly 64%.
Why It Matters for Atlanta Professionals
Most of BNG's audience rents or is deciding whether to renew, and these numbers explain why the search feels crowded: fewer new buildings, more people staying put and more applicants per unit, in the city and the suburbs alike.
Source
First reported by RentCafe (Rental Competitiveness Report), as reported by Urbanize Atlanta: Urbanize Atlanta report
Photo: Cynthia Jennings / Wikimedia Commons, CC BY-SA 3.0
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