Rising costs push Atlanta renters from homeownership
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Metro Atlanta homebuyers have to earn about $46,000 more a year than renters to afford their monthly housing payments, according to a recent Redfin report.
Why it matters: A "triple whammy" of rising home prices, high mortgage rates and a shortage of houses for sale is making it harder for renters to make the leap to homeownership, per the report.
Driving the news: The median home price in metro Atlanta between December 2024 and March 2025 was $386,000, just over half a percent higher than the same time last year.
- And the median monthly rent saw a similar increase, rising to roughly $1,525.
By the numbers: You need an annual income of around $107,145 to afford a mid-priced home in metro Atlanta — nearly 76% more than the $61,000 needed to afford a mid-priced apartment, the real estate site found.