There are several factors to consider when looking for the best place to invest in Georgia real estate. The state has seen significant growth in employment, population, and of course, average home prices. Current property prices are among the most important statistics to track when considering a real estate investment. The best realtors in Savannah know the key benefits of proper planning and have the expertise to research profitable deals. We wanted to provide real estate investors with resources to help them run their businesses successfully. We conducted extensive research to identify the hottest real estate markets and the top 7 locations in Georgia using the latest publicly available data, official government records, and other authoritative sources. Invest in Georgia real estate.
Atlanta
It’s no surprise that the state’s largest city is the wealthiest. Atlanta is a perfect investment storm, riding on the past decade’s economic boom that has helped Georgia realtors shape this real estate market. The city has experienced tremendous population growth over the past decade, growing by 22% since 2010. The current population is about 525,000 people, so the demand for real estate increases proportionally every year. Atlanta has become a significant innovation center, with various large organizations successfully operating here. More than 40% of the population are college graduates with bachelor’s and doctoral degrees, creating a solid economic foundation that drives real estate trends in these areas. The unemployment rate in the city is about 4%, with the number of jobs growing by 2.5% over the last year. Industries with job creation include construction, trade, finance, life sciences, financial technology, and high-tech manufacturing, all of which offer higher average wages that help set local real estate prices.
The most desirable homes sell for up to 3% above the asking price and sell as little as 8 days after listing. In fact, Atlanta real estate is struggling to stay on the market for very long. This means that corrective and reverse investors who can find bargains in desirable locations are sure to get great deals on bargain properties. Construction companies and developers have a competitive advantage over regular and reverse investors due to their ability to meet market demand and secure high sales prices. The best-selling properties included a home office, basement, and fenced yard. Homes with these amenities attracted more attention at auction and sold at list prices more often than homes without these amenities. Maximizing new residential properties to meet market demand for convenience is a strategy to get the best deal.
Long-term investors looking to purchase rental properties should understand just how impressive the current Atlanta rental market is. It has one of the highest rental rates in the country, accounting for 57% of the city’s population. The average monthly rent is now $1,700, up 12% from last year. Though higher than the national average, Atlanta otherwise has a low cost of living and plenty of amenities that make up for high rent costs. Investors looking for profitable rental properties should consider Atlanta as a booming real estate market.
Marietta
Located less than an hour northwest of Atlanta, Marietta is one of Georgia’s most popular suburbs. With just over 60,000 residents, it is one of the smaller areas on the list. Still, its proximity to Atlanta makes it a profitable investment opportunity. Atlanta is becoming the economic center of the South, and nearby metropolitan areas such as Marietta have thriving local economies. Marietta’s future employment growth over the next decade is expected to be 51%, well above the national average of 33%, making the area a strong Georgia real estate investment destination. With Atlanta doing so well, it’s no surprise that this growth is spreading to surrounding metropolitan areas like Marietta. As in Atlanta, the housing shortage has driven up average home sales prices, making it harder for repeat and returning investors to purchase real estate. This gives a unique advantage to new builders who can fill gaps in the real estate industry and develop projects that match local trends. Building homes in Marietta to meet buyer demand is a profitable way for investors to reap significant financial benefits.
Marietta also has an excellent rental market, making it a great choice for investors. The average monthly rent in the city is up 16% from last year at $1,400, making it an affordable option for the Atlanta metropolitan area. About 43% of the population rents, so finding tenants for real estate is not difficult. With Georgia’s booming economy, rental markets like Marietta are lucrative for real estate investors.
Roswell
Further north of Atlanta and Marietta is Roswell, another great town for real estate investors. It is one of the ten most populated cities in Georgia, and its economic growth has not slowed for almost a decade. The local economy thrives with unemployment rates that are well below the national average, indicating a very efficient labor market. A robust local economy leads to strong real estate markets. By understanding these market nuances, investors can maximize their returns. The median home sale price in the city reached $525,000, up nearly 19% from last year. Demand for housing continues to increase, making it a profitable investment opportunity for new construction, renovation, and remodeling projects. With continued population growth and economic growth, potential home sale prices continue to rise, creating highly profitable opportunities for real estate investors. New construction dominates, in this emerging market where demand is high and housing stock is low. Builders who respond to market demand and design their projects according to buyer trends will get the best return on investment.
The Roswell rental market is a financially sound investment opportunity due to its convenient location and affordable rents. The monthly rent is 14% higher than last year but below the national average. There are far fewer renters compared to the other two cities, with only 30% of the city’s residents renting rather than owning property. However, with rents steadily rising and aggregate demand high, investors should look for potential properties in Roswell.
Augusta
With a population of approximately 200,000, Augusta is the second-largest city in Georgia and borders South Carolina, making it accessible to both states. Most of the job growth is in manufacturing, trade and retail, education, and general business services, making it a middle- and working-class city. A working population generally means lower prices, benefiting direct and reverse investors looking for affordable cities with low entry costs and good return potential. The high demand is a way for real estate investors to take advantage of profit-maximizing opportunities. Investors can borrow significant sums to purchase a property in Augusta, renovate it, and sell it for much more than its original value. Construction companies have an advantage over regular investors because they can bid on potential properties and design their projects according to local trends to get the best final price. Building the ideal home for a middle-class family will increase the demand for your project.
The rental market in Augusta is highly affordable but growing, making it a profitable investment opportunity. The average monthly rent is $1,000, up 13% from last year.
Athens
Located northeast of Atlanta, Athens is among the ten largest cities in Georgia. With a population of around 130,000, Athens is growing at the same rate as other major cities in the state, increasing by about 11% since 2010. The city’s unemployment rate is 3.9% and employment growth in the region is expected to be 50%, respectively below and above the national averages. These statistics are essential for understanding real estate investing. The promise of stable returns is attracting new investors to the area. High demand sets the tone for this real estate market. On average, houses are for sale for only eight days, and the most popular house types sell in just 4 days for a 5% premium. This breakneck speed benefits investors who know how to close projects quickly and use the capital to immediately get to the next project. Homes that have outdoor decks, finished basements, and home offices get higher bids and more reviews than homes without these features. Athens is one of the fastest-growing areas, so investors looking for rental properties should seriously consider this market. The average monthly rent in Athens is $1,150, up 8% from last year. As a large university city, it is relatively easy to retain tenants in Athen.
Savannah
Savannah is one of the five most populated cities in Georgia. The average sale prices of housing in the region increased by 8%. Houses only last about one month on the market, which is 40% less time than last year. While this growth rate may not seem as impressive as other cities on the list, it is a significant improvement. Homes with outdoor pools, terraces, and finished basements receive more listings and views than homes without. Developers should include these in their plans to get the highest potential profit. The rental market continues to grow thanks to recent growth in the state. The average monthly rent is now $1,200, up 11% from last year. Already, 43% of the population rents their homes, and the growing population will continue to attract new potential tenants to further stimulate this rental market. Also a tourism center, investors should consider Savannah in their rental portfolio, especially if they are interested in short-term rentals.
Sandy Springs
Sandy Springs, with a population of 110,000, is located in the Atlanta metropolitan area. As such, Sandy Springs is experiencing both population and economic growth. Sandy Springs has easy access to bigger cities and beautiful natural areas, so it appeals to upper-income homebuyers and potential renters who don’t want urban style in their daily lives. Property prices in the area are high, including fixer-uppers. Investors use large loans to finance home purchases and renovations. Homes with offices, outdoor pools, and patios get more interest than homes without. Builders who can source materials and design projects in line with local buyer trends can maximize their sales pitches and generate significant financial returns. The rental market in Sandy Springs is also booming since the town is close to major job centers like Atlanta.
Conclusions
Over the past decade, Georgia’s real estate market has become one of the most prosperous. The recent real estate boom has made the state one of the best for investors. There are many financially rewarding Georgia real estate investment opportunities available throughout the state. With a growing economy fueling the state’s real estate boom, investors can expect Georgia to be such a prosperous state for some time.
