Why Is the Rent in Cobb County Georgia So High?
Welcome to 2015, the Year of the New Atlanta Braves Stadium! Since the announcement that the Atlanta Braves were moving out of the city and into the suburbs of Cobb County, the housing market has been in an upheaval.
Once the gnashing of teeth abated over traffic problems, higher taxes and road construction projects, you could almost HEAR THE CONTRACTION OF THE RENTAL MARKET IN COBB COUNTY.
A couple of things are at work, making even finding an available rental nearly impossible:
1. Cobb County has historically had a relatively low number of apartment complexes.
2. The City of Marietta has recently announced it's intent to purchase and re-develop a large swath of property along Franklin Road near Interstate 75. Targeted for re-development are many, very large apartment complexes that house thousands of low to moderate income households.
3. Occupancy rates of apartment complexes are holding at over 95% and RENTAL RATE INCREASES ARE THE RULE, not the exception.
4. Inventory of rentals of privately owned single family homes is lower than we have seen in nearly 10 years.
5. Property owners who had previously been unable to sell a home are no longer underwater as property values continue to recover. Those homes that had been rentals for the last 6-8 years are now being offered for sale rather than for rent.
Simply from this cursory look at the Cobb County Rental Market, you can see that it is unlikely that things will change in favor of prospective tenants in the next few years.
As of August 8, 2015 there are only 182 ACTIVE residential rental listings available via GAMLS for all of Cobb County.
So, what is the answer?
BUY A HOME NOW!
Low down payment financing is available, first time home buyers and those returning to the real estate market after the "housing bust" can find a
ffordable housing in Cobb County that truly will be LESS EXPENSIVE THAN RENTING!
Search Cobb County Homes For Sale Under $150K
Search Cobb County Homes For Sale $150-175K
Search Cobb County Homes For Sale $175-200K
Search Cobb County Homes For Sale $200-225K
Search Cobb County Homes For Sale $225-250K
"Braves Win" Photo Courtesy of Tammy Lankford of Lane Realty, Your Lake Sinclair Real Estate Expert
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