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%.
Atlanta is not the cheapest place to live. The overall cost of living in the city is 7.5 percent higher than the US average. The two main categories that make it costly to live there are housing and transportation expenses, which are 12 percent and 22.7 percent higher than average, respectively. Groceries are 1.2 percent lower than average, and health costs are 8.2 percent below average.
As is typical for a city with a booming economy, home prices in Atlanta are not on the low end of the scale. But they aren't too costly either, especially considering the business opportunities available in the city. The median price tag for a house in Atlanta is $259,000, which is more than the national average of $186,500. This makes rent-to-own homes an attractive option for those looking to call this city home.
If you're interested in Atlanta rent-to-own homes, don't forget to consider important factors in addition to monthly living costs, such as average commute, taxes, crime rates, etc. The following are some common Atlanta statistics compared to the U.S. national average.
|Atlanta Averages||National Averages|
|One-Way Commute||26.3 minutes||26.4 minutes|
|Income Tax Rate||6.0%||4.6%|
|Median Household Income||$46,439||$53,482|
|Median Property Taxes||$1,100||$2,200|
|Median Home Cost||$259,000||$231,200|
|Median Home Age||35 years||40 years|
Atlanta has a lot of exciting attractions for its residents and visitors.
A tour of the World of Coca-Cola is a must. Your journey will begin in the lobby, where you'll see a display of bottles decorated by artists from around the world who represented their country in honor of the 1996 Summer Olympic Games. Along the way, you can learn about the history of the company's "It's The Real Thing" campaign that began in the 1960s and catapulted the company into the brand it is today. You'll have the opportunity to taste-test more than 100 drinks, view hundreds of Coca-Cola artifacts, watch a show in the 3D theatre, and even get a look at the inside of the vault that guards the secret recipe.
Whether or not you're a history buff, the Atlanta History Center is a great place to explore. In addition to miles of trails, gardens, and woodlands, the 33-acre site has historic homes that will take you back in time, eateries, gift shops, family programs, and playgrounds. The main onsite attraction is the Atlanta History Museum, which features exhibitions that explore the history of Chinese trade and the stories of the Creeks and the Cherokees, as well as those of other influential people and companies that helped shape the city of Atlanta and the entire region.
One of the most popular attractions in Atlanta is the Martin Luther King, Jr. National Historical Park. In addition to getting a full education of the history of the civil rights movement in the U.S., visitors have the opportunity to take a free guided tour of the place where it all began-the home where Martin Luther King, Jr., was born and raised.
Atlanta has its share of nature as well. Piedmont Park is a natural gem that spans more than 200 acres, and it has wooded areas, stone walls and bridges, a public swimming area, and a massive lake. Residents and tourists enjoy its tennis and basketball courts, recreation fields, walking trails, playgrounds, and guided tours free of charge. The park operates a green market on Saturdays from March through November, where you can buy food products produced by local farmers and bakers.
Atlanta is rich in history and diversity, has many popular attractions, and a bustling economy that has room for plenty of newcomers. It's a great place to visit, but an even better place to live. Find your next rent to own home in Atlanta