The local North Atlanta rental market is tight; there’s not a lot of inventory. It’s also become more expensive; if you want to invest here, you’ll have to be prepared financially.
You also have to choose the right property, in the right neighborhood.
The right property will depend on your investment goals. Are you looking for single-family homes? Multi-family buildings? There’s a lot of diversity in the market here, which will help you choose a profitable investment property that fits your plans. North Atlanta has a ton of unique neighborhoods, each with a different vibe, and sometimes even with a different type of architecture.
Location is everything. You don’t have to be an experienced real estate investor to know this.
Here’s a look at the local North Atlanta market, and where some of the best neighborhoods can be found for investors who want to buy a property.
One of the most popular and fastest-growing North Atlanta neighborhoods is Alpharetta. It’s in the very north part of Fulton County and is part of the Atlanta metropolitan area. It feels suburban and safe, with plenty of parks, coffee shops, restaurants, bars, and boutiques.
The location is especially desirable because it puts residents right between all of the city things they love in Atlanta and also the dense woods and the lure of outdoor recreation.
The city of Alpharetta can be an attractive real estate market for both buyers because there’s always a demand among tenants for a well-maintained home in this neighborhood. Renters appreciate the good school districts. The average cost of an investment property in Alpharetta in 2023 is around $449,000.
Investors will find a number of options, including single-family homes, condos, townhomes, and multi-family units. A majority of people in Alpharetta own their homes, and tenants are always looking for an opportunity to live here. Whatever you buy will be easy to rent.
Hoping to invest in horse property? Milton is the neighborhood for you. It’s only about half an hour north of downtown Atlanta but still feels very rural. There are woods and trails and parks and horseback riding opportunities, but the neighborhood isn’t so remote that driving to and from Atlanta seems strenuous.
This is an Atlanta suburb, but it feels like its own small town.
There’s more inventory in Milton than in other North Atlanta communities, and investors will find they can buy large ranches with a lot of acreage or smaller single-family homes and even townhomes that provide a low-maintenance lifestyle to retirees. Condos and apartments can also be found, as well as land for developers who have their own ideas about what to build.
A smaller neighborhood in North Atlanta, with fewer than 10,000 people, Cumming offers a number of opportunities to real estate investors who are looking for a great deal on a home they can rent out. This area provides residents with a welcoming and inviting vibe, and there are always community activities going on. There are local restaurants and plenty of small businesses popping up. Both Atlanta and Marietta aren’t too far away.
A good reason to invest in Cumming is its rate of appreciation. The median home cost in Cumming is $517,600, and appreciation in the last decade has been at around 16.6%.
Rents are high in Cumming; whether you’re listing a condo, townhouse, or single-family home, you can expect to earn around $2,300 to $3,000 per month. Apartments can also be rented out for more than $1,500 a month. There’s a high demand for rentals in Cumming.
A high safety rating and a reputation for being an affluent neighborhood make Johns Creek one of the most desirable places to live in North Atlanta. The average home price is well over a million dollars, and the swanky Saint Ives Country Club is where most of the action happens.
Housing developments within Johns Creek include Oxford Mill, Rivermont, Haynes Bridge, and Doublegate. While buying a property in any part of Johns Creek is a great opportunity, you may struggle to rent it out. Most people in this area of North Atlanta own their homes, and it’s not the first and most logical choice for tenants who are looking for a rental home.
Rivers, parks, and trails are found in abundance in Canton, a North Atlanta suburb that’s about 40 minutes outside of the city. It’s growing quickly, and a lot of renters who want to get outside of Atlanta’s city borders are finding homes in Canton.
The housing market in Canton has seen increasing demand and limited inventory in the last couple of years, leading to rising home prices. Single-family homes are the most prevalent property type, catering to families seeking spacious living spaces and suburban comfort. You’ll be able to rent such a home to a well-qualified tenant who is looking for the space and privacy that a single-family rental home can provide.
Median home prices have increased pretty steadily over the years.
Several new residential developments have shown up around Canton, offering a mix of single-family homes and townhouses. These developments often provide modern amenities and cater to various lifestyle preferences.
Homes for rent in Buford tend to be spacious single-family homes or townhomes. This area of North Atlanta appeals to residents and investors who are looking for space but also easy proximity to downtown Atlanta. Millcroft, Summerlyn, Willow Leaf, and Hedgerows are some of the most popular developments in Buford, where tenants are especially excited to live. Investors who can find a property in one of those neighborhoods or something similar will find they have a steady pool of well-qualified tenants willing to rent their home.
These are just a few of the North Atlanta neighborhoods we chose to highlight today. There are actually dozens and dozens of additional neighborhoods and communities that we’d like to tell you about. Let’s discuss your investment goals and which areas of North Atlanta can help you achieve them. Contact us at Elite Property Management.
