Atlanta Submarkets Dominate Rent Growth Leaderboard
Among the nation’s top 10 submarkets for annual rent growth in February, six were in Atlanta. In fact, five of those Atlanta neighborhoods topped the nation’s leaderboard. Henry County took the lead for individual neighborhoods among the nation’s largest 150 apartment markets, with effective asking rents climbing 16.2% in the year-ending February 2021. Far South Atlanta Suburbs ranked second nationally, with an annual price hike of 14.8%. Taking the next three slots were Southeast DeKalb County (14.5%), Stone Mountain (13.5%) and South Fulton County (13.3%). Clayton County also landed among the top 10 submarkets (11.4%). Five of those six outperforming Atlanta submarkets are in the eastern or southern portions of the market, the exception being Far North Atlanta Suburbs. Also landing among the nation’s top 10 submarkets for annual rent growth were Southaven/Horn Lake/Olive Branch in the Memphis market (12%), Boise City’s Nampa/Meridian/Caldwell (11.9%), Riverside’s Rancho Cucamonga/Upland (11.8%) and Albuquerque’s Northeast Heights (11.5%).