Atlanta ranked 30th most expensive rental market for month of November, study says
ATLANTA - A new report from Zumper ranks Atlanta as the 30th most expensive rental market in the country, with prices showing slight declines compared to last year.
In November, the median rent for a one-bedroom apartment in Atlanta was $1,600 — unchanged from October but down more than 6% year-over-year. Two-bedroom apartments cost an average of $2,000, reflecting a 2% drop from October and an 8% decline compared to the same time last year.
In April 2023, Atlanta was the 21st priciest apartment rental market, according to Zumper.
Zumper attributes the price reductions to a seasonal shift, noting that November typically marks the start of "low demand months" in the rental market.
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National Comparisons
Zumper's report ranks the top 100 rental markets in the U.S., with New York City topping the list as the most expensive city, where a one-bedroom apartment averages $4,370. Other high-ranking cities include Jersey City, San Francisco, Boston, San Jose, and Miami.
In contrast, the least expensive cities on the list were Wichita, Kansas ($730 for a one-bedroom); Tucson, Arizona; Oklahoma City, Oklahoma; Shreveport, Louisiana; and Akron, Ohio.
Other Georgia Cities
One other Georgia city made the list: Augusta, ranked 88th, where the median cost of a one-bedroom apartment is $990.
With rents showing signs of cooling, experts suggest prospective renters may find more affordable options in the coming months.