Atlanta

Report says Atlanta’s rent prices saw 4th largest decrease in the nation

ATLANTA — A new report from Realtor.com says relief may be coming for metro renters.

The report by Realtor.com found that rent prices in Atlanta, Sandy Springs, and Roswell Metro dropped by 3.7 percent over the last year. That was the fourth largest drop behind Austin (4.7), Memphis (4.4), and St. Louis.

“Atlanta is among the areas seeing the largest rent declines in terms of March data,” Hanna Jones, Sr. Economic Researcher at Realtor.com, said.

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Nationwide, the Southeast has seen the most consistent number of metro areas seeing decreased rental prices. Jones says it is thanks to the construction of new apartments are helping supply meet demand.

“That increase in supply is taking the pressure off of rent prices,” Jones said.

However, the decrease is not even close to making up for the increases the metro area experienced during and after the pandemic.

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“Those rental prices are still 18 percent higher than pre-pandemic, that is in March of 2019,” Jones said.

However, the report marked the eighth straight month with decreasing rental prices nationwide. Despite that, the report says the median rent is only $36 less than its nationwide peak in 2022.

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The report also found that studio apartments were the most impacted by the price decreases.

According to Jones, home prices are up 27 percent compared to 2019 levels.

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