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Homeownership Declines in Atlanta Area

By
Industry Observer with LawnStarter

Atlanta

By John Egan 
December 13, 2016

Homeownership in the Atlanta, GA, metro area is less fashionable than it used to be.

A LawnStarter analysis of newly released data from the U.S. Census Bureau shows that from 2006-10 to 2011-15, the homeownership rate dropped 4.4 percentage points (67.9 percent to 63.5 percent), and the rental rate went up by the same amount (32.1 percent to 36.5 percent).


Atlanta GA

Experts say the dip in homeownership in the Atlanta area is part of a national trend.

In the aftermath of the housing meltdown, places like Atlanta were hit “especially hard” by home foreclosures, says Skylar Olsen, senior economist for real estate marketplace Zillow. As a result, some homeowners in the Atlanta area and elsewhere had no alternative but to become renters, Olsen says.

On top of that, many millennials are delaying homeownership in favor of continuing to rent, Olsen says. Additionally, a lot of new homes in the Atlanta area are “pretty pricey,” putting homeownership out of reach for some first-time buyers, says Carl Hudson, director of the Center for Real Estate Analytics at the Federal Reserve Bank of Atlanta.

Assessing Atlanta’s tilt toward renting vs. owning, Hudson says: “I don’t know that Atlanta is any different. Atlanta probably just reflects what’s going on in the country.”

Interactive map can be found here.

This was provided to you by LawnStarter Lawn Care Service.

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Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

I believe as a percentage it is on the decline nationally which is ashame 

Dec 18, 2017 06:15 PM