The city of Atlanta got its name from the Western and Atlantic Railroad. In the early 1800s, it was a small town with limited growth expectations. It became a transportation hub as the railroad worked to expand its lines westward, which brought an influx of opportunists looking to capitalize on the business opportunities available in a sprouting locale. The rest is history-the city continued to explode to its current population of nearly 500,000 residents.
It's no wonder that Atlanta is ranked number 13 on Forbes' list of best places for business and careers. Famously known as the Coca-Cola capital of the world, Metro Atlanta is also home to Delta Airlines, UPS, Home Depot, SunTrust Bank, and a dozen other Fortune 500 companies. Read on for great information on this vibrant city and details on Atlanta rent to own homes.
Atlanta, GA is a great place for affordable rent-to-own homes! With a median household income of over $64,179 and a median rent of $1,227, the Atlanta, GA rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Atlanta, GA. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Atlanta, GA is seeing rapid growth and Atlanta, GA's' housing market remains not optimal with an average home price that is 45% above the 2023 national average. Atlanta, GA is part of Fulton county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2023 for county Fulton is 1.08% which is above the national average, which is 0.99%.