Atlanta is building the new Mercedes-Benz Stadium, home to the Atlanta Falcons and Atlanta United. The Atlanta BeltLine is working its way throughout the city. New businesses and residents are moving inside the I-285 perimeter all the time. All the changes (and more) impact life for city residents, as well as housing costs.
We are passionate about affordable, mixed-income housing, and we know what a difference a stable home can make for families. We continue to invest in affordable rental properties and home ownership opportunities in Historic South Atlanta where we serve. As Atlanta continues to develop and change, here are 5 statistics we’re paying attention to:
1. 2015 was one of the largest single-year population increases in Atlanta’s history.
Atlanta has added 7,900 new residents since 2015, which is an indicator of the rapid population growth impacting the entire metro Atlanta and surrounding counties. The 10 County Atlanta region is home to 4,401,800 persons in 2016, which is almost a 70,000 person increase in just a year. Atlanta is consistently ranked as one of the fastest growing cities in the country, and this increase in population directly impacts demand for all types of city housing.
2. 37% of Atlanta homes are owner occupied.
Home ownership brings an array of benefits and on-going stability to a family. In South Atlanta, approximately 55% of homes are owner-occupied. We are excited to see our neighborhood surpassing city averages. We believe fair, affordable rental opportunities are valuable in a community, but we also are working to create access to home ownership. In 2016, FCS welcomed 14 new homeowners to the neighborhood.
3. 18% of Atlanta homes are vacant.
At the height of the recession, approximately half of the residential properties in Historic South Atlanta were vacant. These empty homes attracted nuisance (and sometimes criminal) activity, but also discouraged residents who often found themselves neighbor-less. Sometimes for the length of an entire block. It’s exciting to see more houses being filled in South Atlanta. Last year alone FCS transformed 14 vacant properties into beautiful homes!
4. The median home listing in Atlanta is $204,500, a record high.
Atlanta’s housing market broke sales records in 2016. Atlanta BeltLine development is spurring increased housing prices throughout Beltline neighborhoods, including Adair Park, Washington Park, West End, and our own South Atlanta. Currently, FCS homes list at affordable rates in the mid 100,000’s.
5. The BeltLine earmarked roughly 5,600 units for affordable housing.
The development of the BeltLine has had a significant impact on Atlanta’s growth. In an effort to address affordable housing, they allocated some of their funding to support affordable housing. But, as urban planner and Atlanta BeltLine founder Ryan Gravel notes, “At the end of the day, it’s a drop in the bucket.” Atlanta’s need for affordable housing goes beyond these 5,600 units.
In South Atlanta, FCS owns 9 rental properties in addition to homes we purchase, renovate, and sell. Along with partner housing programs, we’ve been able to help additional families secure owner occupied homes in South Atlanta. Since beginning work in South Atlanta, FCS has constructed, rehabilitated, or partnered with builders to re-establish many affordable homes in the neighborhood.
We’re excited about positive changes coming to the city of Atlanta, and we’re committed to continue to invest in affordable, mixed-income housing in our city. If you would like to become a part of this restorative work, consider setting up a monthly gift.