You Can Own A Home In Atlanta & Make Less Than The Necessary Annual US Income
It's cheaper than you think. 🏠
The Atlanta skyline. Right: A house with a fence and a for sale sign.
Atlanta's homes for sale are surprisingly affordable, and it has become one of the South's biggest hubs. As many people move there, its buzzing real estate market reflects its popularity.
The Big Peach's housing market moves quickly, and whether you're searching for your dream home or securing ownership in an incredibly competitive market, hunting for your next place can be stressful.
If you are looking for a spot in the city, recent studies indicate it could be more affordable than you think.
According to Visual Capitalist, the average salary an American needs to own a home is nearly $76,000, which is 9% higher than the median income.
If a homebuyer puts down a 20% down payment in Georgia's capital city, the average salary needed to afford a home there is only $69,618.60/year. That price tag is below what the average American needs for an annual income.
The prices of a home in ATL are also way cheaper than the overall prices nationally.
The median home price in the United States is $368,200. Data from Home Sweet Home shows the median home price in A-Town is $350,300, which is nearly $20,000 cheaper than the national average.
Compared to other metropolitan hubs in the U.S. these figures are fairly reasonable. In fact, Dogwood City ranked it 32 on Visual Capitalist's list of the most expensive major cities for home ownership.
Southern cities like Austin, TX, Miami, FL, Raleigh, NC, and Nashville, TN were ranked significantly more expensive.
Although Atlanta has coined the nickname "The New York of the South," it still serves as a good option for purchasing sorta affordable homes when it comes to city living.