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Buying in Atlanta is 52% cheaper than renting

W Downtown at WET

Trulia's "Rent vs. Buy" index once again credits Atlanta as a healthy city for buying in lieu of renting. Dollar for dollar, it is 52% cheaper to own and maintain a residential property than it is to lease a similar residential property. Phenomenally, other leading RENT cities like Chicago and NYC have become cheaper BUY cities - it is 22% cheaper to own vs. rent in NYC, and 47% cheaper to buy in Chicago. Those numbers have changed a lot in the past few years. Atlanta's numbers have always screamed BUY! That's why so many REITS, hedge funds and corporate investors swallowed up most of the stagnant, dirt cheap, distressed inventory in Georgia during 2012 and 2013... These statistics have been consistent in Atlanta for decades. The entire city by city report, from Trulia's Chief Economist Jed Kolko, can be found at this link. Trulia is, in my opinion, the best consumer website on the internet - the kind of work that they do in this index is one of the reasons why I … [Read more...]