Cost of Living Expected to Rise in Atlanta Area
According to the US Bureau of Labor Statistics' Consumer Price Index (CPI) and online real estate database Zillow's forecast of year over year home values and rental rates, Atlanta is one of ten US cities where housing prices and cost of living expenses are expected to increase the most during 2018.
The Consumer Price Index, which measures changes in the price level of various consumer goods and services purchased by households, rose an average of 1.51% between 2014 and 2017 in the Atlanta area.
Zillow predicts that Atlanta area home values will increase 3.34% this year and that average rents will rise 5.08%. The median sales price of a home in the state of Georgia is expected to incease by $32,000 compared to this time last year as inventory continues to decline.
Buying a new home in the Atlanta metro area or anywhere else in the state of Georgia? Call Peachtree Mortgage Services, Inc. at 770.481.0052 to discuss our low home mortgage rates.
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