Atlantans Paid $9.3 Billion In Rent In 2018, Study Says

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 
Area

Total Rent 
Paid, 2018iv

Total Rent 
Paid, 2017

Renter Households, 2018

Renter Households, 2017

Median 
Rent, 
Q4 2018

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%

CJ Johnson: CJ is a longtime Atlantan who has written a book about Atlanta's food scene. He has also fallen in love with the city's music and sports scenes. He writes about Food, Restaurants, Travel, Sports and Atlanta Culture. Check out the book. https://amzn.to/3RPmbZM