Georgia has been the second-fastest-growing US state, next to Utah, since 2010. This makes it a very viable location for real estate investors. Its thriving economy and growing population are indicators of a great housing market that will only continue to grow stronger as the years go by. Let’s get to know some of the best rental markets in Georgia.
Investing in the Best Rental Markets in Georgia
One of the things a lot of real estate investors do is look for potential properties that they could add to their portfolio to boost their income stream. They are well aware of the average person’s financial challenges of owning a home so they set out to provide housing for individuals and families under friendlier terms.
This is a great strategy because it helps address housing issues for folks who cannot afford to buy a property yet and it ensures a steady passive income for the investor.
The Georgia Real Estate Market
The real estate market condition varies per state. And while, generally, investing in real estate is almost always a good thing, investors should always consider what the market is like in a certain state and county.
Why Are Real Estate Investors Attracted to Georgia?
Several things make Georgia a great market for real estate investors. One of them is the housing market’s stability. Despite a whirlwind year and prices cooling, house prices are very unlikely to see a decline any time soon which makes it a strong renter’s market.
A lot of people want to enjoy both the modern conveniences of big city living and the peacefulness and charm of a small town. Georgia has a high inventory of properties that allow folks to enjoy the best of both worlds.
As one of the fastest-growing economies in the country, families are moving in from different parts of the US to get a fresh start and build better lives for themselves. More than twenty Fortune 500 companies have set up shop in the state and called it their home, including UPS, Coca-Cola, Home Depot, Delta, and SunTrust Banks, among others. The healthy economic conditions make it all the more attractive for investors to purchase property to rent out.
Investors looking to cash in on this will do really well, especially if they know the best rental markets in Georgia.
The Top Georgia Rental Markets for Investors
We have listed the best rental markets in Georgia for investors looking to enter the lucrative world of rental property business. It is classified into two categories: traditional rentals and short-term rentals.
6 Best Markets for Traditional Rentals
Traditional rentals usually pertain to properties that are rented out to tenants for a period of six months or longer. More conservative investors prefer this type of business as it gives them greater stability compared to the dynamic market of short-term rentals.
1. Buford, Gwinnett
- Median Property Price: $504,857
- Average Price per Square Foot: $194.97
- Days on Market: 78
- Listings: 225
- Traditional Rental Income: $1,871.72
- Traditional Cash-on-Cash Return: 2.51%
- Price-to-Rent Ratio: 22.48 (high)
- Walk Score: 66
One of the best places to buy a rental property in Georgia is Buford in Gwinnett County. This charming city is hailed by Niche as one of the best places to live in the state. Don’t let its small-town vibe fool you. It is rated to have the best school system in GA which makes it a great place to start and build a family.
2. Cumming, Forsyth
- Median Property Price: $517,344
- Average Price per Square Foot: $219.56
- Days on Market: 75
- Listings: 417
- Traditional Rental Income: $1,768.42
- Traditional Cash-on-Cash Return: 2.08%
- Price-to-Rent Ratio: 24.38 (high)
- Walk Score: 62
As one of the best rental markets in Georgia, Cumming offers its residents a resort-style small-town living that’s easily accessible to Atlanta via GA-400. Its location has led to its steadily growing and thriving economy. It is also known as one of the safest cities in the entire state. Its economic and social boom make it an ideal place for those who want the best of both worlds.
3. Marietta, Cobb
- Median Property Price: $428,518
- Average Price per Square Foot: $198.15
- Days on Market: 68
- Listings: 571
- Traditional Rental Income: $1,850.25
- Traditional Cash-on-Cash Return: 3.1%
- Price-to-Rent Ratio: 19.3 (medium)
- Walk Score: 81
Marietta in Cobb County is another great place to buy investment property in Georgia. On top of its proximity to downtown ATL, Marietta has that tranquil yet charming vibe that appeals to people from all walks of life. It’s perfect for folks who want to get away from the busy and chaotic metropolitan life while still being nearby.
4. Peachtree City, Fayette
- Median Property Price: $501,035
- Average Price per Square Foot: $200.44
- Days on Market: 40
- Listings: 213
- Traditional Rental Income: $2,039.68
- Traditional Cash-on-Cash Return: 2.77%
- Price-to-Rent Ratio: 20.47 (high)
- Walk Score: 56
According to Money.com’s ranking of the best places to live in the US, Peachtree City in Fayette County ranks number 24 overall. With outstanding outdoor amenities for residents to enjoy, a very low unemployment rate of only 3.3%, and a low cost of living, Peachtree City is a great place for families to settle down and retirees to enjoy their golden years.
5. Sandy Springs, Fulton
- Median Property Price: $580,875
- Average Price per Square Foot: $235.89
- Days on Market: 57
- Listings: 251
- Traditional Rental Income: $2,959.67
- Traditional Cash-on-Cash Return: 3.28%
- Price-to-Rent Ratio: 16.36 (medium)
- Walk Score: 24.64
Even if it’s not as affordable as other parts of the Peach State, investors looking to make a profit in the best rental markets in Georgia will never go wrong with Sandy Springs. With ample green and outdoor spaces, a top-notch educational system, exciting nightlife, stellar economic growth, and amazing housing stock, Sandy Springs is the total package for real estate investors.
6. Woodstock, Cherokee
- Median Property Price: $476,886
- Average Price per Square Foot: $208.06
- Days on Market: 79
- Listings: 185
- Traditional Rental Income: $1,730.6
- Traditional Cash-on-Cash Return: 2.28%
- Price-to-Rent Ratio: 22.96 (high)
- Walk Score: 62
One of the best real estate markets in Georgia is Woodstock located in Cherokee County. Housing is quite affordable in this unassuming city just 30 miles northwest of Atlanta. Those looking for a quieter and more peaceful place to live in without giving up modern conveniences will fit perfectly in Woodstock. But don’t let its small-town vibe fool you. Its median age of 35 means living in “A City Unexpected” is exciting and fun.
6 Best Market for Short-term Rentals
Short-term rental properties are furnished living spaces that are rented out to tourists and guests anywhere between a few days to several weeks. These properties are commonly known as vacation houses and are popular alternatives to hotels.
Before any investor decides to dabble in this line of business, they must note that different cities have different laws and regulations about short-term rentals. We highly recommend getting in touch with trusted and credible local real estate agents to know more about the different laws of the land.
1. Athens, Clarke
- Median Property Price: $416,216
- Average Price per Square Foot: $216.68
- Days on Market: 70
- Listings: 288
- Airbnb Occupancy Rate: 58.7%
- Airbnb Rental Income: $3,415.36
- Airbnb Daily Rate: $175
- Airbnb Cash-on-Cash Return: 5.68%
- Price-to-Rent Ratio: 10.16 (low)
- Walk Score: 43
Athens GA, also known as The Classic City, is located near the ATL airport making it one of the top tourist hubs in the vicinity. It is known for its thriving arts and music scene as well as its gastronomy and rich history. Since the city is named after the Greek City Athens, which in turn is named after the Greek goddess of wisdom Athena, it is not surprising to know that it is home to the University of Georgia.
2. Atlanta, DeKalb
- Median Property Price: $577,226
- Average Price per Square Foot: $396.8
- Days on Market: 86
- Listings: 2697
- Airbnb Occupancy Rate: 42.26%
- Airbnb Rental Income: $2,132.19
- Airbnb Daily Rate: $172
- Airbnb Cash-on-Cash Return: 0.71%
- Price-to-Rent Ratio: 22.56 (high)
- Walk Score: 43.37
Without a doubt, Atlanta is one of the hottest real estate markets in Georgia. Aside from Hotlanta being the principal trade and transport hub of the southeast, it is also the center of a sprawling metropolis that includes 20 counties. With its dynamic and progressive environment, ATL boasts of some of the country’s best gastronomic experiences and practically limitless fun activities to do. It is so popular that it has made its way to Lonely Planet’s 2022 Best in Travel List, the only US city to be included on the list.
3. Blue Ridge, Fannin
- Median Property Price: $823,455
- Average Price per Square Foot: $288.97
- Days on Market: 92
- Listings: 262
- Airbnb Occupancy Rate: 61.92%
- Airbnb Rental Income: $4,119.12
- Airbnb Daily Rate: $247
- Airbnb Cash-on-Cash Return: 3.8%
- Price-to-Rent Ratio: 16.66 (medium)
- Walk Score: 66
This beautiful mountain town in the northern part of this southern state has one of the most breathtaking landscapes anyone can ever see. Between its vibrant and eclectic arts scene and the majestic view, visitors to Blue Ridge do not regret paying this small town a visit. There are lots of fun activities for everyone, from enjoying its restaurants and breweries to going on a ride on its scenic railway. The return on investment will be the least of an investor’s worries in Blue Ridge as it is one of the top rental markets in Georgia.
4. Brookhaven, DeKalb
- Median Property Price: $577,149
- Average Price per Square Foot: $270.72
- Days on Market: 60
- Listings: 364
- Airbnb Occupancy Rate: 35.31%
- Airbnb Rental Income: $2,346.23
- Airbnb Daily Rate: $185
- Airbnb Cash-on-Cash Return: 0.9%
- Price-to-Rent Ratio: 20.5 (high)
- Walk Score: 25.46
Although Brookhaven is known as one of the top places to live in Metro ATL, it also has tons of things to offer to visitors and tourists. You can keep your schedule packed with activities or just chill and do virtually nothing but enjoy its sights and sounds. It’s such a great alternative to the more active Atlanta lifestyle that some ATL residents even buy summer homes there to escape during the summer.
5. Savannah, Chatham
- Median Property Price: $643,776
- Average Price per Square Foot: $279.88
- Days on Market: 77
- Listings: 804
- Airbnb Occupancy Rate: 65.1%
- Airbnb Rental Income: $4,225.86
- Airbnb Daily Rate: $188
- Airbnb Cash-on-Cash Return: 5.08%
- Price-to-Rent Ratio: 12.7 (low)
- Walk Score:75
Known for its Spanish moss dripping from centuries-old oak trees, beautiful historic buildings, and southern charm, Savannah GA is undoubtedly one of the most gorgeous cities in the country. Visitors come in droves year in and year out to experience this southern city’s offering of gastronomic delights, vibrant arts and music scenes, and fantastic adventures.
6. Tybee Island, Chatham
- Median Property Price: $932,273
- Average Price per Square Foot: $494.07
- Days on Market: 115
- Listings: 272
- Airbnb Occupancy Rate: 53.54%
- Airbnb Rental Income: $3,977.32
- Airbnb Daily Rate: $241
- Airbnb Cash-on-Cash Return: 2.41%
- Price-to-Rent Ratio: 19.53 (medium)
- Walk Score: 39
Since the 1800s, Tybee Island has been a pretty popular vacation spot for both locals and tourists. One would typically find swimmers, water sports enthusiasts, sunbathers, and fishers on its fine sandy beaches. Its amazing sunrises and sunsets are matched by the beauty of its historical homes and landmarks. Its thriving tourism makes it one of the best rental markets in Georgia.
Finding Rental Property in Georgia
The process of locating the best rental markets in Georgia is now a lot easier with various tools designed to help make things easy for real estate investors. One such tool is Mashvisor. It is an online platform that makes finding Georgia investment properties a lot faster and easier compared to other conventional methods of research.
It is so easy to use that beginners won’t have a hard time navigating the system. The platform gives investors access to accurate data to find the best properties most suited to their investment goals in a matter of minutes.
Sign up now and get access to tools like:
- Property Finder to help investors locate different listed properties in a specific area;
- Real Estate Heatmap which highlights the highs and lows of several listing prices, rental income, cash-on-cash returns, and occupancy rates;
- Investment Property Analytics which uses updated and accurate data that will help investors find the best and most profitable properties; and
- Short-Term Rental Calculator to make computing a property’s profitability much easier.
While the topic of the best rental markets in Georgia is subjective depending on the investor’s goals, one should always look at the latest and most accurate data to come up with a well-informed decision. Doing this prevents costly mistakes and increases an investor’s success rate significantly.
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