Atlanta: Popular . . . and Getting More ExpensiveBack to home
I’ve lived in Atlanta for many years, and I’m a proponent of the city. Atlanta has a lot to offer, but I think that for a long time, people haven’t realized how great a city it is or where it’s headed. That’s starting to change, though. People are paying close attention to the city’s upward trajectory, and many are choosing to make it their home.
This weekend, I read an article describing how Atlanta’s attractiveness caused more people to move to the city and drove a higher rate of inflation here than in any other city last year. A few takeaways from the article:
- Housing costs were the single largest driver of inflation in Atlanta. The shelter index rose 7.7% in Atlanta versus 4.1% nationwide.
- Atlanta attracted home buyers from more expensive markets like the Northeast and West Coast.
- The median sale price of homes in Atlanta rose 23% in a year, more than the 15.2% national average.
- Atlanta is still more affordable than coastal cities like San Francisco and New York, even though prices are rising quickly.
- Transportation costs, which include vehicle prices and gasoline, are up 29.3% in Atlanta (and up 21.1% nationally).
I’m curious to see if this trend continues and will watch housing costs closely this year.