Take a look at RentCafe’s Year-End Report that reveals America’s most competitive rental markets this year.
Suburban Atlanta was the most competitive big rental market in Southeast this year. What’s more, it surpassed the Big Peach itself due to few new available rentals and high lease renewal rate.
Here are the highlights:
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Almost 70% of renters in Suburban Atlanta chose to renew their leases, making apartment hunting even harder for apartment-seekers. To make the competition even fiercer, rentals were already 95% occupied in 2022.
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In Suburban Atlanta, an average of 13 renters, competed for the same vacant apartment. In addition, available rentals were filled after 37 days.
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Based on these metrics, we calculated a Rental Competitivity Index (RCI), which for Suburban Atlanta was 64.1 out of 130.
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Meanwhile, Atlanta was ranked 56th nationwide, with a lower RCI score of 41.5. This was due to lower lease renewal rate (62%) and slightly lower occupancy (94.5%).
You can read the full year-end report and see how Atlanta and its suburbs compare with other markets in the Southeast here:
The 2024 virtual Men’s Round Table will be held Q4, 2024, date TBD.
