Atlanta, Georgia, is one of the top cities for rental homes, according to a recent Zillow study.
The findings indicate that although property values are causing a rise in taxes, homeowners are increasingly renting their homes for more than their monthly mortgage payments to make ends meet.
Study: More Atlanta Property Owners Renting Out Homes
The study also shows that Atlanta continues to be a top draw for renters looking for a large metropolitan cities with modern amenities and plentiful jobs.
Despite the “We Full” moniker, Atlanta consistently pulls in migrants from across the country due to its relative affordability. That offers property owners an opportunity to make some money on their residences.
Here are the top metro areas where property owners are renting out their homes.
Top U.S. Cities For Renting Out Properties
|
Metro Area |
Size |
Typical |
Typical Monthly Mortgage |
$ Difference Between Rent and |
|
Memphis |
41 |
$1,504 |
$948 |
$556 |
|
Miami |
8 |
$2,249 |
$1,727 |
$522 |
|
Atlanta |
9 |
$1,787 |
$1,363 |
$424 |
|
Birmingham |
49 |
$1,271 |
$868 |
$403 |
|
Tampa |
19 |
$1,819 |
$1,435 |
$384 |
|
Indianapolis |
33 |
$1,375 |
$1,044 |
$331 |
|
Orlando |
27 |
$1,758 |
$1,444 |
$314 |
|
Charlotte |
24 |
$1,628 |
$1,339 |
$290 |
|
Oklahoma |
42 |
$1,210 |
$931 |
$279 |
|
Detroit |
12 |
$1,387 |
$1,119 |
$268 |
Last Thoughts
A Pew Research Center study says,70% of rental properties in the United States are owned by individuals rather than companies. That means that Americans see the value in turning their residences into wealth generators.
But property owners have been careful not to overdo it. These individuals typically own one or two properties, according to the study.
Are you interested in making money off where you live? Here’s how to rent out your home for profit.
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Not to mention that the city’s dining scene is the best in the Southeast. Looking for a home? Check out our Real Estate Resource Page.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.
See The Latest Atlanta Real Estate News At AtlantaFi.com.
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