I was excited but not surprised to see that Money Magazine listed Atlanta as the best place to live in the country in 2022.

Money magazine has been putting out this ranking for over 35 years. It’s among the most reputable annual “best city” rankings. 

With the ever-changing U.S. city landscape, the magazine wanted to choose a city “where anyone can feel like they belong.” This statement is an excellent city description of Atlanta and its well-deserved ranking. 

If you have read my previous posts, you know I have been very bullish on our city. Therefore, by extension, I am bullish on our real estate market. I believe that the ongoing growth of our city will help support a resilient Atlanta real estate market in the future.

In the following post, I will highlight some of the article’s accolades and how they will make for a robust real estate market now and in the future.

Business-friendly

Start with a business-friendly environment if you want a positive boost to city growth.

Atlanta has always been a pro-business city with stalwarts like Coca-Cola and Home Depot. Eighteen of the fortune 500 companies have their headquarters in Georgia, and Atlanta is ranked 3rd in the country for the most Fortune 500 companies.

But as the Money article astutely observes, we have become more than a fortune 500 business city. 

We have become an incubator for entrepreneurs; Inc. magazine ranks Atlanta as #18 of the top 50 cities for the best places to start a business.

This combination of large corporations and small start-ups attracts a diverse and large community of talented workers. Naturally, communities grow as businesses grow, incentivizing real estate development and city growth and expansion.

Competitive and growing labor market

Once you have a robust business environment, then you can attract top talent. 

The website moneygeek.com recently did a comprehensive and audited review of the top U.S. cities for job seekers based on the most recent data from the Bureau of Labor Statistics and the Department of Housing and Urban Development. Their results ranked Atlanta as the 7th best city in the country for job seekers in 2022.

The latest employment data shows that through August of 2022, Atlanta metro employment increased by 150,400, a job rate gain of 5.3% compared to the national job growth rate of 3.8%.

Business opportunities, job opportunities, and a reasonable living cost compared to peer cities like Austin support the future population growth projections. The 11 counties that make up the city’s commutable area are expected to gain 2.5 million people by 2040, bringing the population to a total of 8 million. An increasing population increases the demand for residential real estate.

Infrastructure

To retain talent and grow the population and strengthen the community, you must ensure the city is an excellent place to live for everyone.

And as the Money article states, “Atlanta has ample greenspace, historical relevance, a food and music scene with global influences, and an ever-expanding network of bike and walking trails.” It is arguably one of the country’s best cultural and social cities.

Notably, the city is doing everything possible to support its culture and infrastructure for a growing population.

In May this year, voters approved an infrastructure package worth $750M for transportation, recreation, public safety, and art projects. 

Initiatives like the infrastructure package will keep access and ongoing support of the metro residential real estate market.

Conclusion

These attributes of business friendliness, job growth and opportunities, infrastructure, and culture become a flywheel supporting our city’s expansion, resilience, and relevance well into the future. 

Additionally, they support a robust real estate market. This exciting outlook is why you cannot make a blanket about every real estate market in the U.S. 

Some cities, like Atlanta, know how to grow. For this reason, I consistently say there is no wrong time to invest in a home in Atlanta; with population growth, people need places to live. Likewise, we are at deficient supply levels, so it’s difficult to see any significant move to the downside in real estate value.

If you are interested in buying or selling residential real estate this fall, please do not hesitate to contact me.