In this edition of The TurboTenant report, we will be focusing on the best places to buy an investment property in Georgia. Three towns made our list: Marietta, Atlanta and Roswell. We curated data from studies on the best places to buy an investment property, median sale prices, and proprietary TurboTenant data. The TurboTenant Data includes stats on the average number of leads a rental property received, as well as the average number of days on the market. These two points will help an investor determine the strength of the rental market, as well as estimating potential vacancy rates.
This peach of a state is the 8th most populous in the U.S. Georgia has wide and varied landscape and activities to enjoy, you can hike on the Appalachian Trail in the northern part of the state, take a beachside bike ride in the southeast or enjoy the Georgia Aquarium and the Martin Luther King Jr. National Historic Site in Atlanta. Home values have increased across the board, and our number one pick has seen double-digit increases year over year. Landlords are renting their properties out in less than 3 weeks on average, and leads are strong throughout the picks.
Georgia is on our mind as a great place to buy a rental investment property, let’s find out the top places to invest in the Peach State.
#3: Roswell, GA
Roswell is a suburb of Atlanta with a population of roughly 100k. Roswell has a 640-acre historic district complete with ghost tours, restaurants, festivals, shopping, theatre and woodland trails along the Chattahoochee River. The median sale price was around 400k in October of 2019, with the average rent coming in around $1295. Roswell wins the prize for the most leads per property at 64 and averages less than two weeks on the market.
- Population growth: 0.1%
- Employment growth: 0.3%
- Increase in home values: 2.1%
Median Sale Price: $400k
Average Rent: $1295
Average Number of Leads per Property: 64
Number of days on the rental market: 12
#2: Atlanta, GA
Atlanta, our number two pick on the list is the largest city in Georgia and the state capital. The Atlanta Braves, Dream, Falcons, Hawks, United….if you like sports, Atlanta has a team for that. Whether you are looking for history and heritage, sports and leisure or arts and culture, look no further. It also has home values that have increased 14.1% year over year, a population growth of 4%, and employment growth at 1.7%. The median sale price is affordable at $225k with an average rent amount of $1101. Leads are coming in at 10 per property with an average of just 3 weeks on the market.
- Population growth: 4%
- Employment growth: 1.7%
- Increase in home values: 14.1%
Median Sale Price: $225k
Average Rent: $1101
Average Number of Leads per Property: 10
Number of days on the rental market: 21
#1: Marietta, GA
Marietta is another one of Atlanta suburbs with a population of roughly 65k. Located northwest of Atlanta, Marietta has a deep and unique history, you can ‘enjoy’ a Ghost of Marietta tour as well as a Black Heritage Walking tour. They have award-winning theatre troupes as well as a Gone with the Wind Museum. Marietta isn’t far from SunTrust Park, the home of the Atlanta Braves, so if ghosts aren’t your thing, maybe baseball is! Home values have increased 7.1% year over year, with a median sale price of $292k and an average rent amount of $1332. Landlords are getting nearly 30 leads per property, with just two weeks on the market.
- Population growth: 0%
- Employment growth: 0.3%
- Increase in home values: 7.1%
Median Sale Price: $292k
Average Rent: $1332
Average Number of Leads per Property: 27
Number of days on the rental market: 14
Once you’ve landed the perfect investment property in a good location, TurboTenant can help take your landlording into the digital world by streamlining the rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.
About the TurboTenant Report
The TurboTenant Report analyzes data from active listings across all 50 states, as well as third party real estate, population and employment growth data. Our goal with the TurboReport is to empower seasoned and novice investors to make wise purchasing decisions when purchasing a rental investment property. For more information or custom data requests, please contact [email protected].
In order to determine the best cities to invest in each state, we curated data from a number of reputable sources as well as using TurboTenant proprietary data. Our main city selections were taken from a study that evaluated four main factors for each city: employment growth, population growth, increase in home values and rental yield. We combined that with TurboTenant data on the average rent price, the number of rental leads per property, as well as the average number of days the rental stays on the market.
We also included an honorable mention where applicable. They are pulled from this study on the best places to invest in every state. These were determined using Zillow’s Buyer-Seller Index and Zillow Home Value Forecast, and AreaVibes’ Livability Score. Other methods for determining honorable mentions include using TurboTenant proprietary data to determine which cities return the best rental investment R.O.I. using data points including days on market, the number of leads per property, and average rent price.
DISCLAIMER: TurboTenant, Inc does not provide legal advice. This material has been prepared for informational purposes only. All users are advised to check all applicable local, state and federal laws and consult legal counsel should questions arise.
- TurboTenant Rental Data
- Fastest Growing States Population
- The Best and Worst Cities to Own Investment Property
- Real Estate data provided by Redfin, a national real estate brokerage.