We all know Atlanta is a renter’s paradise: Plentiful inventory, fanciful amenities and affordable housing close to the job. But new figures show that renters across the nation, including Atlanta, paid more in monthly payments — $12.6 billion — in 2018 than the previous year.
Atlantans paid $9.3 billion in rent in 2018, an increase over the $8.8 billion they paid in 2017. The median rent for 2018 in Atlanta was $1,470, according to a new HotPads.com analysis.
Nationally, the monthly rent was $1,475, up 3% over a year ago. Across the nation, renters and apartment dwellers paid the ungodly sum of $504 billion to landlords.
Why are rents increasing?For Atlanta, the entry of the Beltline into the city’s interior has substantially increased not only rents but mortgages as well. Many intown areas are seeing double-digit appreciation following similar paths of the Beltline.
But it’s not just the Beltline, other developments have played a role, too. Atlanta may have lost out on Amazon’s second world headquarters, but studies showed that the effect to surrounding real estate would have made much of the downtown area unaffordable.
Here is what renters paid in 2018 across the U.S.
|
Metropolitan |
Total Rent |
Total Rent |
Renter Households, 2018 |
Renter Households, 2017 |
Median |
YoY Change |
|
United States |
$504.4 billion |
$491.8 billion |
43.2 million |
43.3 million |
$1,475 |
3.0% |
|
New York, NY |
$55.6 billion |
$54.7 billion |
3.5 million |
3.5 million |
$2,370 |
1.0% |
|
Los Angeles, CA |
$40.4 billion |
$38.5 billion |
2.3 million |
2.2 million |
$2,920 |
4.2% |
|
Chicago, IL |
$15.6 billion |
$14.8 billion |
1.3 million |
1.2 million |
$1,785 |
2.1% |
|
Dallas, TX |
$12.3 billion |
$12.3 billion |
1.0 million |
1.0 million |
$1,665 |
3.0% |
|
Philadelphia, PA |
$8.9 billion |
$8.8 billion |
752,000 |
771,000 |
$1,680 |
2.6% |
|
Houston, TX |
$10.4 billion |
$10.3 billion |
927,000 |
902,000 |
$1,585 |
2.6% |
|
Washington, DC |
$14.8 billion |
$14.3 billion |
807,000 |
792,000 |
$2,180 |
1.8% |
|
Miami, FL |
$12.7 billion |
$12.3 billion |
861,000 |
850,000 |
$2,025 |
2.7% |
|
Atlanta, GA |
$9.3 billion |
$8.8 billion |
781,000 |
775,000 |
$1,470 |
5.3% |
|
Boston, MA |
$11.3 billion |
$10.9 billion |
699,000 |
699,000 |
$2,410 |
3.2% |
|
San Francisco, CA |
$17.0 billion |
$16.2 billion |
779,000 |
766,000 |
$3,495 |
3.4% |
|
Detroit, MI |
$5.1 billion |
$4.9 billion |
530,000 |
525,000 |
$1,300 |
3.7% |
|
Riverside, CA |
$7.4 billion |
$6.7 billion |
516,000 |
496,000 |
$1,960 |
5.7% |
|
Phoenix, AZ |
$7.5 billion |
$6.9 billion |
625,000 |
607,000 |
$1,495 |
6.2% |
|
Seattle, WA |
$9.8 billion |
$9.4 billion |
588,000 |
593,000 |
$2,240 |
4.0% |
|
Minneapolis, MN |
$5.2 billion |
$5.0 billion |
422,000 |
417,000 |
$1,680 |
3.7% |
|
San Diego, CA |
$10.2 billion |
$9.6 billion |
530,000 |
524,000 |
$2,720 |
4.8% |
|
St. Louis, MO |
$3.1 billion |
$3.0 billion |
355,000 |
349,000 |
$1,200 |
2.1% |
|
Tampa, FL |
$5.2 billion |
$4.9 billion |
433,000 |
430,000 |
$1,475 |
5.6% |
|
Baltimore, MD |
$4.5 billion |
$4.6 billion |
354,000 |
348,000 |
$1,745 |
1.1% |
|
Denver, CO |
$6.4 billion |
$6.1 billion |
405,000 |
403,000 |
$2,115 |
3.9% |
|
Pittsburgh, PA |
$2.4 billion |
$2.5 billion |
297,000 |
297,000 |
$1,100 |
2.7% |
|
Portland, OR |
$4.9 billion |
$4.7 billion |
351,000 |
345,000 |
$1,945 |
3.0% |
|
Charlotte, NC |
$3.4 billion |
$3.3 billion |
330,000 |
330,000 |
$1,385 |
4.1% |
|
Sacramento, CA |
$4.8 billion |
$4.4 billion |
331,000 |
326,000 |
$1,970 |
5.9% |
|
San Antonio, TX |
$3.1 billion |
$2.9 billion |
298,000 |
291,000 |
$1,385 |
2.5% |
|
Orlando, FL |
$4.4 billion |
$4.2 billion |
339,000 |
338,000 |
$1,530 |
6.7% |
|
Cincinnati, OH |
$2.5 billion |
$2.4 billion |
285,000 |
287,000 |
$1,230 |
3.1% |
|
Cleveland, OH |
$2.5 billion |
$2.5 billion |
303,000 |
307,000 |
$1,205 |
2.6% |
|
Kansas City, MO |
$2.8 billion |
$2.8 billion |
296,000 |
300,000 |
$1,260 |
3.1% |
|
Las Vegas, NV |
$4.4 billion |
$4.1 billion |
360,000 |
358,000 |
$1,420 |
6.5% |
|
Columbus, OH |
$2.9 billion |
$2.8 billion |
297,000 |
293,000 |
$1,435 |
4.0% |
|
Indianapolis, IN |
$2.5 billion |
$2.4 billion |
270,000 |
266,000 |
$1,240 |
3.4% |
|
San Jose, CA |
$7.0 billion |
$6.7 billion |
275,000 |
273,000 |
$3,720 |
4.0% |
|
Austin, TX |
$4.2 billion |
$4.4 billion |
316,000 |
319,000 |
$1,750 |
2.6% |
|
Virginia Beach, VA |
$2.9 billion |
$2.8 billion |
247,000 |
242,000 |
$1,485 |
1.8% |
|
Nashville, TN |
$2.8 billion |
$2.8 billion |
263,000 |
267,000 |
$1,510 |
2.6% |
|
Providence, RI |
$2.5 billion |
$2.3 billion |
251,000 |
243,000 |
$1,770 |
4.8% |
|
Milwaukee, WI |
$2.4 billion |
$2.3 billion |
252,000 |
250,000 |
$1,385 |
2.1% |
|
Jacksonville, FL |
$2.2 billion |
$2.1 billion |
197,000 |
200,000 |
$1,395 |
5.3% |
|
Memphis, TN |
$1.6 billion |
$1.6 billion |
188,000 |
182,000 |
$1,045 |
2.7% |
|
Oklahoma City, OK |
$1.5 billion |
$1.6 billion |
194,000 |
194,000 |
$1,120 |
1.5% |
|
Louisville, KY |
$1.3 billion |
$1.3 billion |
166,000 |
163,000 |
$1,140 |
3.3% |
|
Hartford, CT |
$1.7 billion |
$1.7 billion |
160,000 |
158,000 |
$1,670 |
1.8% |
|
Richmond, VA |
$1.8 billion |
$1.7 billion |
167,000 |
161,000 |
$1,465 |
4.0% |
|
New Orleans, LA |
$1.9 billion |
$1.8 billion |
186,000 |
182,000 |
$1,450 |
1.7% |
|
Buffalo, NY |
$1.4 billion |
$1.3 billion |
162,000 |
165,000 |
$1,275 |
3.5% |
|
Raleigh, NC |
$1.9 billion |
$1.9 billion |
176,000 |
172,000 |
$1,475 |
3.1% |
|
Birmingham, AL |
$1.0 billion |
$1.0 billion |
137,000 |
141,000 |
$1,045 |
2.9% |
|
Salt Lake City, UT |
$1.6 billion |
$1.4 billion |
130,000 |
129,000 |
$1,600 |
4.4% |
