Atlanta is the No. 3 market for multifamily-housing investment, according to a new report by Ten-X (formerly Auction.com).
With strong job growth in the area, Ten-X predicts that investors will see annual net operating income (NOI) increases of approximately 4 percent through 2018.
In July, average rent for a one-bedroom apartment in the Atlanta metro area increased by 4 percent over the previous month, according to ABODOs National Apartment Report: July 2016. That makes Atlanta No. 10 in the nation for the largest rent growth in July.
In addition, two large apartment community sales just occurred in the metro area: a 380-unit community sold for more than $75 million and a 336-unit mixed-use community went for $74.5 million.
In suburban Atlanta, Cobb County is growing quickly, as millennials start to move there and older apartment communities are renovated.
If you are looking to learn more about increasing your NOI, then register today for MAXIMIZE, the only industry event dedicated to it!