Atlanta has always had high, but reasonable rents. The new Flats at Ponce City Market has rents starting at $1225 and up to $3395. Even though to a New Yorker this seems very reasonable for the amenities provided, Atlantans see this as a huge increase. Even the “affordable” units are not significantly lower. Unfortunately, this trend is not going to turn and start going the opposite direction.
Mayor Kasim Reed says a concern is that Atlanta will turn into a New York, and middle and lower class people will be priced out. He believes that there needs to be more affordable housing so that both the rich and the poor have a place to live in the city. The touchy debate of inclusionary zoning, something that would require developers to set aside a certain percentage of their units as “affordable,”might be revived again if this continues to be an issue.
Even as rents go up it is still very important for renters to consider Renters Insurance. Renters Insurance has the ability to save you from losing a lot of money if something were to happen. So contact us today if you want a quote or more information on what steps to take to get your place insured!
“Sky’s the Limit for Atlanta Rents.” Creative Loafing Atlanta. N.p., n.d. Web. 23 July 2015.