(Matthew Du, NewsUSA Reporter)
- The rent in Atlanta in recent years has soared immensely, making homeownership a struggle for locals and exacerbating the city’s housing crisis following the COVID-19 pandemic. Rent in Atlanta has surged by more than $500 since 2018. Due to this, median-earning Atlanta households spend more than half their income to afford the median rent due to a 65% increase in home prices from 2018 to 2023.
Federal Reserve Bank's Home Ownership Affordability Monitor (HOAM) notes that Atlanta has been below the affordability threshold since 2022, dramatically burdening low and middle-income families. This has caused approximately 1,200 homes to harbor squatters and illegal settlers.
