Published On: Thu, Mar 21st, 2019

What Are The Financial Benefits Of Living In Atlanta

1. Low Unemployment Rate

Atlanta boasts one of the lowest unemployment rates of any metropolitan area in the U.S. This is good for a couple of reasons. The first, being the most obvious, is the fact that low employment means there’s a strong job market. If you’re looking into relocating to a new city, job security and availability is a major factor.

2. Affordable Home Values

With the average house price in Atlanta being $192,892, homes run far below the median value nationwide. In short, moving here would immediately save you money if you want to be a homeowner. You’d pay a fraction of what you’d expect to pay in a more expensive city like Denver or Seattle. This might not be the best news for sellers in the area, but it’s great for potential buyers.

This ratio is almost the same for the cost of renting in Atlanta, too. Here, the average monthly cost to rent an apartment is just over $1K. Across the country, the median rent price is much higher at $1.5K.

3. Competitive Income to Cost of Living Ratio

While the median salary in Atlanta is just over $50K compared to the national $59K average, this amount goes much farther in a city with such a low cost of living. If you compare Atlanta with a more expensive city such as San Francisco, which has a median salary of $103K and an average rent cost of nearly $4K, you would still come out ahead in terms of disposable income and potential savings.

4. Efficient Public Transportation

Atlanta is a centralized city with a wide range of transportation options, including an impressive public transit system. If you live and work in the Greater Atlanta Area, you could easily save money by using public transportation instead of owning and driving a car to get around. If you aren’t close enough to ride a bike to get around, you could commute to work using the MARTA railway or Streetcar system.

When you consider the costs of car insurance, maintenance, gas, and a monthly payment, a solid public transit system is a key factor that can save you thousands of dollars a year in transportation costs.

If you do choose to keep a car, you can also reap the benefits of the city’s many park-and-ride centers. Additionally, you can be eligible to receive up to $15K for a car title loan if you reside in this city.

5. Going Out Will Cost You Less

One major factor when considering a new place to live is entertainment costs. Things like restaurants, bars, movie tickets, and even ballgame passes can add up if you like to enjoy these activities regularly. Thankfully, Atlanta’s bustling artisanal food and craft beer scene is very affordable compared to other major cities like Los Angeles and New York City.

Atlanta is a rapidly growing city that’s rich in history, unique culture, and innovation. Home to some of the most influential fortune 500 companies in the world, this southern city is a a top choice if you want to set your roots while you line your pockets at the same.