The pandemic had an impact on rent prices in major cities and neighborhoods across the U.S. To quantify the impact, we’re focusing attention on some of the major cities and neighborhoods in the U.S. We will be presenting our findings in a series of year-over-year neighborhood snapshots.
The subject of today’s snapshot is for the Atlanta neighborhood, Buckhead. Based on our analysis, Buckhead’s year-over-year average rents have increased among all bedroom unit types.
Our standard neighborhood analysis uses a 12-month “LookBack” to establish an average baseline rent. The results from the 12-month LookBack analysis are presented in the tables below for Buckhead 1-3 bedroom rents from July 1, 2020 – July 1, 2021:
As the table shows, 1BR units increased by 9% from last year or $136 more. The 2BR units increased by 12% or $251 more, and the 3BR units increased their rents by 7% or $269 more. As demonstrated by the table, year-over-year performance for all bedroom units in Buckhead saw an increase in rent.
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This article was written by the Rentometer Content Team. The Rentometer Blog features fresh takes and insights on rental housing topics, services, and technology.