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Investing in real estate is a very good idea if you want to have a great ROI, and Georgia is one of the best states to do so. That’s especially true if you want to acquire a rental property in Georgia. More often than not, Georgia will give you access to a wonderful return on investment and extraordinary value, especially if you choose to rent your property in the long run.

Why should you buy a rental property in Georgia?

There are many reasons why Georgia is more and more appealing to rental property buyers. Property prices start at $70000, so you do have a large range of options to consider based on your budget. On top of that, Georgia is one of the top rental markets in the US, with Atlanta being a prime example in this regard. The population is also growing, so there are always new tenants coming in, which makes Georgia a great place to buy any type of rental property that you might be interested in.

Things you should know about Georgia

The total state population in Georgia is around 10.71 million people, and it’s constantly growing, with 2 more million people expected to be settling in by 2030. The job market in Georgia is flourishing, with new possibilities appearing all the time. The average income in Georgia is $29958 according to data from 2019.

In Georgia you can expect an effective property tax rate of 0.87% on average. This is much lower when compared to other states such as Texas for example. The average home price in Georgia is $269,441 (October 2021 data). However, one of the things to keep in mind is that the year-per-year value has increased with 22.4%. That makes Georgia a great place for real estate investment and more specifically rental property investment.

Which are the best places to acquire rental property in Georgia?

Buford, Gwinnett

Buford might not be your traditional investment location, but here you can find a very good value for investment properties. Median property price is $504,857, and traditional rental income is around $1,871.72. You can expect a price to rent ratio of 22.48, which is much higher than many other locations in Georgia. That’s why it’s a good idea to give it a shot, since this is also a charging, beautiful town. It has a great school system and it’s also far enough from the busy cities to enjoy peace and quiet.

Atlanta, DeKalb

Finding high rent areas in Atlanta can be challenging, but DeKalb can be one of the top options to keep in mind. Properties cost $577,226 on average, and they can offer a very good price to rent ratio of around 22.56. With that in mind, this location has plenty of restaurants, it’s also seen as a transport hub as well. This is a very good option if you’re looking for a more unique, distinctive location.

Augusta

Augusta is a beautiful city with a large population and it also has a rich history in the music and entertainment industries. On top of that, costs of living are not very high, and you can expect the average home value here to be $163,397. Rental properties will give a price to rent ratio of 11.13. While it’s not as high as other regions in this list, it’s still a very good one. It’s still worth it to rent a property here, especially with the city’s population constantly on the rise.

Columbus

On average, you can expect a home to cost around $233.037 in Columbus. The price to rent ratio will be around 5.37, sometimes a bit more depending on where you choose to live. It’s a great city with lots of prospects and growth from a business standpoint. On top of that, the market value is growing, and there are some high rent areas in Columbus that you will find incredibly appealing. That’s what makes Columbus very appealing for anyone looking to invest in rental property in the region.

Marietta

You can expect a rental property to cost you around $428,518 on average here. The 19.3 price to rent ratio suggests that you are better off renting here, so it’s definitely one of the top places for any serious rental property investor. It’s a very good idea to give it a try specifically if you are interested in a good return. On top of that, Marietta is a quiet town, so a lot of people choose to live here, while still being close to the larger cities. The average rental income is $1.800, which is well over the average in this region.

Peachtree City

Another good rental property location would be Peachtree City. Although home prices here are $501,035 on average, you will notice that the 20.47 price to rent ratio shows a very good rental benefit. And at $2,039.68, the traditional rental income is very good. It goes to show that choosing Peachtree City as a rental property investment location is not a bad idea at all. It’s definitely worth checking it out, especially if you are a serious investor and you want to have multiple rental properties.

Sandy Springs

Sandy Springs is definitely one of the more expensive areas in Georgia, however it can be a very good rental property location. You can’t go wrong with this location, since it has a stellar educational system, great economic growth, not to mention the housing stock is very good too. Property prices are $580,875 on average, and you can expect a price to rent ratio of 16.36. When it comes to the traditional rental income, this is roughly $2,959.67. So while you will invest more in properties here, rental expenses are also higher for tenants. Which means the return on investment is actually a very good one.

Woodstock

Woodstock can also be seen as a great investment property location, depending on what you are looking for. The fact that Woodstock is 30 miles close to Atlanta is great, since a lot of people want to trade the busy city life for something quieter. Prices are $476,886 on average, and the price to rent ratio is 22.96, which is considered high for this region. The traditional rental income is roughly $1,730.6.

Brookhaven

Even if Brookhaven is one of the more expensive locations in Georgia with a median property price of $577,149, it’s still well worth investing here. It has a lot of things to offer to people moving in for long term, but also for tourists too. Its price to rent ratio is very good at 20.5, and you can expect an average rental income of $2,346.23.

Conclusion

As you can see, there are lots of amazing places where you can purchase a rental property in Georgia. It’s extremely important to know when, where and how to invest in order to obtain the best possible ROI. That’s why we encourage you to use this list as a guideline, since it shares some of the most profitable locations for rental property purchases.

It’s a very good idea to take your time and ensure that you spend your money wisely for a very good ROI. Georgia itself is a great place for buying rental properties, but as you can see there are cities which end up more profitable than others from a rental standpoint. Assess the market and study our guidelines, you will have no problem finding the right option to suit your needs!