College towns like Atlanta attract potential home buyers
Parents of college kids are increasingly looking to buy homes in prominent college towns, raising the demand for real estate in Atlanta. With soaring rental costs and skyrocketing rates for on-campus housing, many families are opting to purchase homes and houses for their kids to live in during their time in college, according to the US News and World Report.
"There has always been a shortage of housing for students," Darla Jobkar, a local real estate expert, told the news source. "For this reason, college and university real estate investments in this area over the years have been a huge success to both long-term and short-term investors."
The Atlanta metro area is home to a significant number of top universities and colleges. Part of this is due to the University System of Georgia and its 35 colleges, many of which are located in Atlanta, according to The Atlanta Journal-Constitution.
According to the US News and World Report, the median list price for a home in Atlanta was $174,900. After factoring in an estimated monthly mortgage payment of $650, those who choose to rent the place out, to their kids or other students, can expect to see a potential monthly profit of around $537.