Real Estate Facts Every Homeowner in Atlanta Should Know
Are you a first-time buyer or a recent homeowner in Atlanta? Continue reading to find out everything you need to know about the city’s real estate market.
As a current or future homeowner in Atlanta, there are several real estate facts you should be familiar with. As one of the most popular cities within the United States to relocate to in recent years, a growing number of consumers are now proud to call The Big Peach home. By brushing up on your existing knowledge of the real estate market in Atlanta, you can gain a greater understanding of the housing situation on your doorstep and plan ahead for an upcoming move in or out of the city. Continue reading to find out everything you need to know as a current or future homeowner in Atlanta.
Atlanta's Population is Growing
As with most up-and-coming cities within the United States, Atlanta has experienced rapid growth and development in recent years. As a result, real estate in Atlanta is a hot commodity as the city has welcomed over 730,000 brand-new residents in the past decade alone with that number expected to rise in the coming years. By taking a closer look at the facts and figures, the counties that have experienced the greatest growth are DeKalb, Gwinnett, Cobb, and Fulton. This news comes as a record-breaking number of homeowners are moving out of some of the country’s most populous cities, such as Los Angeles, New York, and Miami, due to rising living costs and overpopulation and favoring up-and-coming cities with lower living costs and fewer crowds. If this trend continues, Atlanta is set to become one of the most sought-after cities to live in for young American homeowners. Home Insurance
As of 2021, homeownership rates in Atlanta are hovering around 50%. As a result, a growing number of homeowners are also opting for home insurance in the city. But before you organize home insurance, you must find out what home insurance covers. As is the case with monthly home insurance costs, the level of coverage can vary from provider to provider. With most homeowners organizing home insurance for the sole purpose of protecting their property and its contents, standard home insurance policies tend to cover your home, your belongings, and liability for any injuries or property damage caused by you or your family members, including pets. If you are in the process of relocating to Atlanta or have recently become a homeowner in the city, you should shop around for a home insurance policy to suit your individual lifestyle and budget.
Atlanta Job Market is Booming
As well as becoming one of the fastest-growing cities in the United States, Atlanta’s job market is booming. As a result, inhabitants of the city are expected to benefit from millions of brand-new jobs within the next 30 years. This is likely to take place on a widespread scale but largely in the industries and sectors associated with healthcare, science, technology, and construction. In addition to this, the mining, logging, construction, trade, and transportation industries have also experienced rapid growth in recent years and, as a result, have contributed towards lowering the city’s unemployment rates.
Atlanta Offers Homeowners a Great Quality of Life
With technology continuing to take over as one of the fastest emerging industries on a global scale, it comes as no surprise that Atlanta has been voted as one of the best cities for tech-minded homeowners to live. As a result, it has attracted a growing number of homeowners looking for work in the technology industry that are unable to, or unwilling to, tolerate the high cost of living in San Francisco or Manhattan. In addition, it has also attracted a growing number of retirees looking for a place to call home that benefits from the best of both worlds with an abundance of sprawling green spaces as well as a bustling city center metropolis.
Atlanta's Real Estate Market is on the Rise
As is the case nationwide, the real estate market in Atlanta is continuing on an upwards trajectory. As a result, a property that sold for around $200,000 a couple of years ago is now selling for up to $700,000. If you are looking to sell your home or just upgrade your living situation in the not-so-distant future, this may be music to your ears. This is largely due to a rise in demand for housing in the city with the trend only expected to rise in the coming years.
If you are a homeowner in Atlanta, it may benefit you to find out more about the state of the real estate market in the city. For example, its population is growing, home insurance coverage is increasing alongside homeownership, its job market is booming, it offers homeowners a great quality of life, and the real estate market is on the rise.
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