Report says Atlanta rental prices down 8.1% versus last year

A new report on national and metro-specific rental prices showed that the costs to rent a one or two-bedroom apartment across the United States remains in flux.

However, while national rent prices on one-bedroom apartments was mostly unchanged, two-bedroom prices had started to drop. In Atlanta, the report from Zumper said prices for the metro had fallen 8.1% since this time last year.

In October, one-bedroom apartments in Atlanta had a median price of $1,600, while two-bedrooms had a median cost of $2,030.

Zumper said that makes Atlanta the 27th most expensive rental market in the country, on a ranking of the top 100 most expensive markets. Month-over-month, Zumper said rent prices in Atlanta for a one-bedroom apartment were unchanged, but had fallen by 6.4% compared to last year.

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When it comes to two-bedroom apartments, costs fell 2.3% in the past month and 8.1% compared to the year before.

Among state-level rents, Georgia was 2.8% higher than the national median, according to Zumper’s report and middle-of-the-pack for the seven swing states closely watched during the 2024 general election.

“Our rental data shows that 4 of the 7 key swing states, Georgia, Michigan, Pennsylvania, and Wisconsin, all experienced annual rent price growth rates that were larger than the national median of 2.3%,” Zumper said.

Atlanta and Augusta were the only two cities in Georgia from Zumper’s top 100. Rental prices in Augusta were up across the board, as much as 28% for a two-bedroom apartment.

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