According to a recent report from Realtor.com, metropolitan renters may finally find some relief on the horizon.
According to a report from Realtor.com, the rent prices in Atlanta, Sandy Springs, and Roswell Metro have experienced a decrease of 3.7 percent over the past year. This decline ranks as the fourth largest drop, following Austin (4.7), Memphis (4.4), and St. Louis.
According to Hanna Jones, a Senior Economic Researcher at Realtor.com, Atlanta is experiencing significant declines in rent based on March data.
In the Southeast, rental prices have consistently decreased in numerous metro areas across the region. This can be attributed to the construction of new apartments, which has helped to balance the supply and demand in the rental market, according to Jones.
Jones stated that the surge in supply is alleviating the strain on rental prices.
Unfortunately, the decrease falls far short of compensating for the significant increases that the metro area witnessed during and after the pandemic.
