HotPads Names Atlanta's Most Affordable Neighborhoods for Single Renters
Greenbriar, Peachtree Hills, East Chastain Park and Princeton Lakes are among Atlanta's most affordable neighborhoods for renters who want to live alone
SAN FRANCISCO, Feb. 13, 2018 /PRNewswire/ -- Single renters can expect to spend a smaller share of their income on a one-bedroom apartment north of Atlanta's downtown core than elsewhere in the city, according to a new HotPads® analysis.
To find the most affordable neighborhoods for single renters, HotPads compared each neighborhood's median rent for a one-bedroom apartment to the city's median annual income of $37,310[i] to see where renters can expect to put the smallest share of their paycheck toward rent.
In the city of Atlanta as a whole, the median rent for a one-bedroom apartment is $1,570 a month. This means renters making the city's median income who want to live alone need to spend about 51 percent of their income on rent – far greater than the 30 percent recommended by experts. Atlanta's ten most affordable neighborhoods require single renters to spend between 32 and 42 percent of their income on rent.
"Many renters dream of living alone, and renters in Atlanta who want to make that dream a reality can do so in certain neighborhoods if their budget is flexible," said Douglas Pope, co-founder and general manager of HotPads. "Atlanta's affordability is a selling point for single renters who are increasingly being priced out of the country's biggest cities. To stand out among the competition, renters can keep close tabs on new listings and prepare applications ahead of time so that they're at the front of the line when a new rental hits the market."
Among the 10 most affordable neighborhoods for renters wanting to live alone in Atlanta, eight are on the north end of the city. Many of these northern neighborhoods are part of the active Buckhead community or next to the Belt Line, giving renters great access to some of Atlanta's trendiest spots. Additionally, HotPads predicts that Greenbriar, Atlanta's most affordable neighborhood for single renters, will become more popular in the next year because of its projected rent and home value growth.
HotPads is a Zillow Group-owned apartment and home search platform for renters in urban areas across the United States. For more information on Atlanta's rental market, visit HotPads.com.
Neighborhood | Median One-Bedroom | Share of Median Income |
City of Atlanta | $1,570 | 50.5% |
Greenbriar | $1,002 | 32.2% |
Peachtree Hills | $1,065 | 34.3% |
East Chastain Park | $1,138 | 36.6% |
Princeton Lakes | $1,149 | 37.0% |
Lindridge/Martin Manor | $1,183 | 38.0% |
Marietta Street Artery | $1,193 | 38.4% |
Blandtown | $1,248 | 40.1% |
Paces | $1,255 | 40.4% |
Brookwood | $1,295 | 41.7% |
Virginia-Highland | $1,295 | 41.7% |
HotPads
HotPads is an efficient rental search platform for urban areas across the United States, with features designed for competitive markets such as map-based search, real-time notifications and detailed information on landlords and property managers that help renters spend less time searching and more time feeling excited about their next home.
Launched in 2005, HotPads is based in San Francisco and is owned and operated by Zillow Group, Inc. (NASDAQ: Z and ZG).
HotPads is a registered trademark of Zillow, Inc.
[i] Bureau of Labor Statistics, median annual income for the city of Atlanta
[ii] Based on the city of Atlanta's median income from the Bureau of Labor Statistics ($37,310 annually)
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SOURCE HotPads, Inc.
