June Georgia Rental Price Monitor: Rents Rising
Friday, July 10th, 2015
Welcome to the June 2015 Georgia Rental Price Monitor! The Peach State remains one of the nation’s most affordable places to live, though rent prices continue rising faster than national averages. In this report, we’ll be looking at trends across the whole state as well as variations between cities.
Georgia rent prices
In Georgia, 1 bedroom rents increased by 1.2% and 2 bedroom rents increased by 0.4% between May and June. They are now up 7.1% and 4.6% over last year at average prices of $850 and $860, respectively. These rents are both lower than the respective national averages, although Georgia is showing more growth yearly for both 1 and 2 bedroom apartments. The state’s 1 bedroom rent is $160 less or 16% lower than the national average price of $1010 while 2 bedroom rents are $220 less or 20% lower than the national average of $1080.
Top 10 most expensive cities
- Johns Creek: Johns Creek was the most expensive city, with a 2-bedroom median price of $1400. Johns Creek had a year-to-year growth of 3.9% over June 2014.
- North Atlanta: North Atlanta was the 6th most expensive city, with a 2 bedroom median rent price at $1300. Rents are up 0.6% month-to-month and 7.6% year-to-year based on 2 bedroom units.
- North Decatur: North Decatur had the 10th highest rents in March for 2 bedrooms, with a median price tag of $1220. Additionally, North Decatur saw the 3rd highest growth over last year for 2 bedrooms at 12.8%.
Top 10 cities with the fastest rent growth
- Tucker: Tucker ranked as the city with the fastest annual rent growth at 13.1%, according to 2 bedroom figures. A 2 bedroom in Tucker carries a median price tag of $800, while a 1-bedroom goes for $810.
- North Decatur: North Decatur shows the second fastest growth rate at 12.8% for 2 bedroom rents. The median price for a 1 bedroom in North Decatur is $1020, while a 2 bedroom goes for $1220.
- Cumming: Close behind North Decatur is Cumming with the 4th fastest growth rate at 11.4%. A 2 bedroom in Cumming goes for a median price of $1140, while a 2 bedroom in Cumming costs $1070.
Full data:
| City | Avg Price – 1 Bed | MM Change – 1 Bed | YY Change – 1 Bed | Avg Price – 2 Bed | MM Change – 2 Bed | YY Change – 2 Bed |
|---|---|---|---|---|---|---|
| Johns Creek | $1,200 | -1.1% | 8.5% | $1,400 | 0.6% | 3.9% |
| Peachtree City | $1,030 | -2.5% | 8.8% | $1,340 | 2.8% | 3.3% |
| Dunwoody | $1,110 | 2.3% | 12.4% | $1,330 | -0.3% | 5.4% |
| Atlanta | $1,100 | 0.4% | 6.8% | $1,330 | 0.2% | 4.8% |
| Suwanee | $980 | 0.0% | 0.0% | $1,310 | 0.0% | 0.0% |
| North Atlanta | $1,020 | 0.9% | 7.8% | $1,300 | 0.6% | 7.6% |
| North Druid Hills | $1,010 | 1.9% | 7.2% | $1,300 | 1.8% | 5.0% |
| Alpharetta | $1,090 | 3.2% | 14.1% | $1,290 | 0.4% | 11.1% |
| Milton | $1,280 | 0.3% | 0.1% | |||
| North Decatur | $1,020 | 4.1% | 8.5% | $1,220 | 5.4% | 12.8% |
| Vinings | $1,070 | 0.0% | 5.0% | $1,210 | -0.5% | -0.9% |
| Woodstock | $920 | 1.8% | 8.0% | $1,160 | 1.2% | 6.2% |
| Sandy Springs | $970 | 1.6% | 9.9% | $1,150 | 0.6% | 9.1% |
| Cumming | $1,070 | 6.3% | 11.2% | $1,140 | 2.0% | 11.4% |
| Pooler | $980 | 0.3% | 1.8% | $1,130 | 3.1% | -3.1% |
| Kennesaw | $880 | 1.2% | 8.4% | $1,100 | 3.3% | 6.8% |
| Buford | $870 | 0.6% | 3.9% | $1,060 | -2.9% | -3.4% |
| Smyrna | $910 | -0.2% | 6.9% | $1,040 | -2.2% | 8.4% |
| Duluth | $860 | 1.9% | 10.8% | $1,010 | 1.3% | 8.2% |
| Georgetown | $810 | 0.0% | 0.0% | $1,000 | 0.0% | 0.0% |
| Roswell | $890 | 0.2% | 5.9% | $990 | 0.2% | 9.1% |
| Canton | $860 | 0.9% | 14.5% | $970 | -0.3% | 11.5% |
| Savannah | $920 | 1.9% | 1.3% | $950 | -0.7% | -1.1% |
| Newnan | $820 | 0.5% | 6.6% | $910 | 2.6% | 5.2% |
| Loganville | $890 | 0.0% | 0.0% | $910 | 5.9% | 8.1% |
| Marietta | $780 | 1.8% | 11.9% | $900 | 0.7% | 9.2% |
| Mableton | $590 | 0.0% | 0.0% | $900 | 0.0% | 0.0% |
| Lawrenceville | $790 | 0.2% | 7.2% | $880 | -0.4% | 8.7% |
| Decatur | $840 | 1.3% | 7.1% | $880 | 0.0% | 4.2% |
| Doraville | $770 | 2.5% | 19.7% | $850 | 3.5% | 6.1% |
| McDonough | $780 | 3.2% | 8.7% | $840 | 3.5% | 4.7% |
| Cartersville | $600 | -0.4% | 5.8% | $840 | 0.0% | 0.0% |
| Lilburn | $720 | 1.3% | 8.2% | $830 | -0.9% | 5.9% |
| Douglasville | $750 | 2.2% | 6.6% | $830 | 0.8% | 7.1% |
| Lithonia | $720 | -0.7% | 4.2% | $820 | 2.7% | 5.1% |
| Stockbridge | $690 | 0.4% | 8.6% | $810 | -0.3% | 3.4% |
| Tucker | $810 | 1.0% | 10.8% | $800 | -0.5% | 13.1% |
| Acworth | $660 | 2.7% | 7.7% | $800 | -3.1% | 3.5% |
| Norcross | $660 | -0.2% | 7.2% | $790 | -0.4% | 5.8% |
| Riverdale | $670 | 1.9% | 7.4% | $790 | 2.2% | 7.1% |
| Gainesville | $730 | 2.0% | 6.2% | $780 | 2.8% | 5.9% |
| Scottdale | $680 | 1.2% | 2.8% | $770 | 0.1% | -0.1% |
| Lithia Springs | $600 | 1.3% | 1.5% | $770 | 0.8% | 1.1% |
| Union City | $580 | -2.6% | -3.1% | $710 | -0.4% | 2.0% |
| Clarkston | $610 | 2.4% | 15.4% | $710 | 0.9% | 5.8% |
| Warner Robins | $560 | 19.4% | 23.0% | $710 | 0.4% | 0.0% |
| Austell | $720 | -0.4% | 12.4% | $700 | -0.2% | 8.1% |
| Conyers | $740 | -2.3% | -4.9% | $690 | -0.9% | -2.3% |
| Stone Mountain | $590 | -0.1% | 0.4% | $690 | 0.5% | -0.3% |
| Athens-Clarke County unified government (balance) | $600 | -0.7% | 1.0% | $690 | -1.7% | 0.8% |
| Augusta | $610 | 1.1% | 3.6% | $680 | 0.7% | 1.0% |
| Jonesboro | $520 | 1.4% | 6.3% | $670 | 1.4% | 6.2% |
| College Park | $550 | 0.0% | 6.8% | $660 | 0.3% | 4.0% |
| East Point | $550 | -0.7% | 2.9% | $650 | -0.5% | -0.4% |
| Columbus | $580 | -0.2% | 1.0% | $650 | -0.2% | 0.3% |
| Macon | $530 | 0.0% | 1.6% | $630 | 0.0% | 2.5% |
| Griffin | $490 | 0.0% | 0.0% | $590 | 0.3% | -2.9% |
| Covington | $570 | -2.8% | -1.2% | |||
| Forest Park | $490 | -1.0% | 7.3% | $570 | -0.6% | 1.4% |
| Valdosta | $460 | 0.0% | 0.0% | $550 | -0.4% | 1.0% |
| LaGrange | $350 | 0.0% | 0.0% | $420 | 0.0% | 0.0% |
| Albany | $370 | -0.3% | 1.3% | $400 | -0.5% | 0.2% |
