Thought I’d share this article.
http://www.ajc.com/business/content/business/stories/2007/08/30/housing_0831.html?cxntnid=biz083007e
This seems to be accurate…I put a house up for rent at what I thought was a crazy $1500 per month (I thought $1300 was more realistic, but I went for it), and the first person to look at it (who appears to be rock solid by all accounts) made an application and did not even try to negotiate the rent.
Wow, nice catch Paul. Was there a particular reason you decided to set it at $1500? I wonder why he’s renting. Did he sign a year long contract?
There were some very nice homes (newer, larger) close by renting for $1600, so I knew I could not ask for that. Homes comparable to mine were offered for $1300, so I thought I could ask for $1500 and maybe negotiate down.
With the not so long ago layoffs by Ford Motors in Atlanta. We are currently seeing a few people from Atlanta move here in the Valley area. We have a multi-billion Kia motors plant building in the area. That will employ around 3500 to 5000 workers then all the suppliers to the plant moving in as well we are poised for an explosion of buyers, renters and of course investors. Now is the ground floor for the takers.
I don’t agree much with that study. There is soooo much cheap housing in metro atlanta, its unbelievable. $850 a month can still get you a nice 1500 sq ft apt in Roswell, and $725 can get you an ok 1200 sq ft 2 br in Marietta. It is still REALLY good here with high paying jobs available in the city. They should compare the situation there to south florida and see how good it is in Atlanta.