With renting at the highest level in half a century, some neighborhoods radically changed their structure in the last 10 years.
So much so that from homeowner territory, they’ve become renter hotspots. In the latest RentCafe report, we looked at the 50 largest U.S. cities to uncover the fastest-growing renter zip codes, the zip codes that transitioned to renter majority, as well as the top renter hotspots.
Two zip codes switched to renter–majority, and other seven neighborhoods are considered the fastest-growing renter zip codes in Atlanta. In addition, the city has 23 renter hotspots with high renter shares.
Let’s dive into the details:
Zip codes 30309 and 30345 became renter–majority in the last decade:
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While zip code 30309 was home to 9,788 renters 10 years prior, lately it has boosted to 13,064 apartment dwellers, thus turning the neighborhood renter-majority. The second zip code that has more renters than homeowners is zip code 30345, where 13,069 tenants live currently.
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Which are the fastest–growing renter zip codes in the city?
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Zip code 30312(Summerhill) is the trendiest renter zip code in Atlanta, boasting a significant 41.8% increase in renter population over the last 10 years.
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Nationwide, many neighborhoods with the highest change in renters are close to city cores. Zip code 30303 (Downtown area) is no exception. The number of renters here increased by 35.1%, faster than owners.
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A little bit further, zip code 30309 saw a 33.5% hike in its renter population, the third largest increase in any zip in Atlanta.
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The Big Peach has twenty-three renter-dominated zip codes, with 30318 being the biggest renter magnet
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There are almost 30,700 renters living in zip code 30318, neighboring Midtown Atlanta, more than in any other neighborhood in the city. Apartment dwellers here make up 58.2% of the zip code’s population.
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However, zip code 30346 has the largest share of renters, a whopping 92.5% which represents around 4,600 renters.
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Hot on its heels comes zip code 30303 with a 79.1% renter share.
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If you want to get a complete overview of the topic, feel free to check out the complete report: https://www.rentcafe.com/blog/rental-market/market-snapshots/zip-codes-where-renters-outnumbered-owners-in-the-last-decade/
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