The Atlanta real estate submarket is comprised of about seven key areas: Central Perimeter, Buckhead, Midtown, Downtown, Northwest, North Fulton, and Northeast Atlanta. Available real estate in these areas can be vastly different. When looking to buy a home, rent a condo or invest in the Atlanta real estate market it’s important to understand the difference in lifestyle each of the Atlanta submarkets offer. We’re hoping that the information we offer in this post helps.
Navigating The Atlanta Real Estate Market: Submarkets
Let’s Explore The First Three Major Atlanta Real Estate Submarkets:
This is one of the most popular areas for office spaces and high rises. There are several major companies whose headquarters are located here, including AT&T and UPS. It used to be that there was no new construction so options were limited making prices high. Now there are a variety of new projects underway. This includes a number of residential high-rises. Central Perimeter is distinctly urban. If you don’t mind the traffic it’s the ideal place for a southern city dweller. There are lots of nationally recognized shopping stores and unique restaurants including cafes, coffee houses and international eateries in the Park Place shopping center. This area is also home to Atlanta’s major players in healthcare. Brookhaven, Dunwoody and Sandy Springs all makeup portions of the neighborhood. For those looking for a touch of nature Hammond Park offers a cozy place for a nice walk or lunch in the park. Perhaps the biggest drawback to living in central perimeter is price. It’s about a 20% higher cost of living than other Atlanta neighborhoods. A 3 bedroom family home can cost around $350K.
The average cost of a single-family home in Buckhead is around $1.1 million. For $400K buyers can make their way into luxury condominiums in the 30305 zip code and $150k for a 2 bedroom 2 bath with a doorman. The price of living in Buckhead makes sense when you consider some of the endless options in restaurants, museums, shopping centers, theaters and parks. For families that can afford it some of the most prestigious private schools like Westminster are located in Buckhead. For college students Buckhead can actually make a lot of sense. Rental prices are affordable. Due to the amenities available there is an influx of service jobs available to students working their way through school.
Perhaps the Midtown submarket offers the most variety of all the Atlanta neighborhoods. From single family homes to high-rise condominiums; it can all be found in Midtown. The residential population grows rapidly and so does the number of museums, restaurants and parks. Subsequently the community is known for its walkability.Pet lovers, bike riders as well as young professionals find the community welcoming. Shopping includes a variety of specialty boutiques and an outdoor shopping center, Atlantic Station. Colleges in the area like Georgia Institute of Technology, John Marshall Law School, and Savanna College of Art and Design bring a steady stream of diversity. The median home value in Midtown is around $247,200.