Are you looking to venture into real estate? Well, choosing the right property in the right location is vital. Georgia is one of the areas in the United States that offer a wide range of profitable rental properties. In this guide, we will explore the top places to purchase rental units in Georgia. You will learn the unique aspects of each and the potential return on investment.
Milton
Milton was named after John Milton, a Revolutionary War hero. The average house value in this area is $972,000. In the last year, the property value in Milton has increased by 39%. So, how much should you expect as your rental income? You can collect about $4,000 per month from your tenant.
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What Makes Milton Stand Out?
- Low crime rates.
- Availability of essential amenities like hospitals and schools.
- Growing population and economy.
- Spacious rental properties.
Johns Creek
Another prime location in Georgia for acquiring rental property is Johns Creek. The place hosts several prestigious schools. Moreover, since it is close to Atlanta, Johns Creek’s residents can easily commute to their workplaces. The average house value is $652,500, and the potential income is $3,100. Properties in Johns Creek have surged 16% in value over the past 12 months.
What Makes Johns Creek Stand Out?
- Cultural attractions.
- Strong economy.
- Exceptional security.
Chamblee
Chamblee’s excellent transport system that allows residents to communicate seamlessly has made the area a promising option for purchasing rental houses. This place has witnessed its population double over the past 12 years. The average house price is $470,000, and the expected rental income is $3,050. The property value here is up 11% from 2022.
What Makes Chamblee Stand Out?
- Electric arts scene
- Good transport system
- Availability of shopping malls and restaurants.
Blue Ridge
The natural beauty of Blue Ridge, which includes scenic landscapes and attractions sites like the Chattahoochee National Forest, makes this place a good option for buying rental houses. Since Blue Ridge is popular among tourists, consider renting your property for a short term, maybe for a few days or a week.
The average house price in Blue Ridge is $495,800, while potential rental income is around $3,000. The value of properties in the area has increased by 17% over the previous 12 months.
What Makes Blue Bridge Stand Out?
- Peaceful community
- Tourist attraction
Sandy Springs
Sandy Springs is the seventh largest city in Georgia. Its population stands at $110,678. Being the host of several major companies, Sand Springs has seen its economy grow massively over the past few years. Considering the vibrant job market here, demand for rentals has increased significantly. The average house price is $667,180. In terms of rental income, you can pocket up to $2,900 monthly. Houses in Sand Springs have witnessed their value increase by 8.9% in the past 12 months.
What Makes Sand Springs Stand Out?
- Vibrant economy.
- Existence of multiple educational institutions.
Athens
Athens offers residents a quality lifestyle at affordable prices. This explains why most people are looking for houses to rent in the area. Athens hosts a number of learning institutions, including Kennesaw State University and Georgia State University.
So what is the average house cost? To acquire a rental house in Athens, you need to have at least $307,000. Moreover, you will receive a monthly rental income of around $2,400. Over the past year, property value in this area has surged 27%.
What Makes Athens Stand Out?
- Strong economy.
- Lively cultural scene.
- Educational centers.
Peachtree City
This is another area with several learning centers. It also hosts numerous shopping malls. Further, major highways pass through Peachtrees City, making it accessible. You will need approximately $520,000 to buy property here. Estimated rental income is $2,600.
Houses’ value has appreciated by 6% in the last 12 months.
What Makes Peachtree City Stand Out?
- Quality schools.
- Access to amenities like shopping centers.
- Good transport system.