Metro Atlanta nurtures and attracts some of the brightest digital entertainment and tech talents. The city has long established itself as the capital of the Southeast. With over six million residents, Atlanta is paving the way for an inclusive urban environment. A lively downtown, lush green spaces and a bustling nightlife in the city – the options are endless in the metro area.
According to one report, many individuals and families in other regions of the country, specifically the Northwest and Midwest, are relocating to the South, with many choosing Atlanta as their new home. This influx of new residents has positioned the Atlanta area as the country’s fourth-fastest-growing metro region. The city is home to some of the largest companies and one of the fastest-growing job markets in the country and offers a diverse range of neighborhoods for families.
Residential Trends in Atlanta, GA
Who’s moving to Atlanta and why?
Atlanta is a booming city with more than six million people. It’s the ninth-largest metropolitan area in the U.S., and the city’s not done growing. Atlanta is a popular city for recent grads and young professionals, as well as those in the start-up, tech and creative arts industries.
There’s a good chance some of your recent favorite movies and TV shows were in filmed in the area. Atlanta’s film industry has brought 90,000 jobs, which has led to many dubbing the city as the “new Hollywood.” Atlanta’s reasonable cost of living attracts young professionals because apartment rents and prices are relatively low compared to major cities like Los Angeles and New York.
Some of the biggest names in business like UPS, Coca-Cola and Home Depot also call Atlanta home. The city has the third-highest concentration of Fortune 500 companies in America.
Like much of the country, the Atlanta real estate market has been red hot throughout the pandemic. In October 2021, the medium home price was $349,000, a 20% increase from the previous year – a trend that is expected to continue. A recent Realtor.com report expects home prices to rise 3.6% in 2022.
Atlanta was recently named one of the best places to visit in 2022 by Lonely Planet. Atlanta has many attractions, including remarkable restaurants. The city’s dining scene is a culinary juggernaut, with authentic Southern cuisine and diverse venues. As mentioned previously, Atlanta’s booming film industry has helped bolster its status as a travel destination, as has its rich African American history, such as the Martin Luther King Jr. National Historic Site.
Job Market in Atlanta
The area’s population spike certainly has had an impact on business growth and job opportunities. Area Development magazine named the state of Georgia No. 1 for business for seven years (2014-2020).
Thriving Industries in Atlanta
It’s not just big business that’s thriving in Atlanta. In 2018, the National Federation of Independent Business highlighted Georgia as “the top state in the U.S. for small business climate.” In recent years, Atlanta was named a top-10 city to start a business. Industries like healthcare and tech are fueling much of the economic growth, particularly around small businesses and startups.
Financial Tech: The number of Atlanta-based financial tech companies increased from 90 to 120 between 2016 and 2019, cementing its position as a finance hub. The top 50 companies in this category produced more than $72 billion in sales and handled more than $2 trillion in annual transactions. As a result, Atlanta has earned the moniker “Transaction Alley” for its contributions to the electrification of payments.
Logistics and Supply Chain: Atlanta is home to one of the busiest airports in the world, so it’s only natural that the city and state serve as a distribution and supply chain hub. Atlanta is the No. 2 metro area for the digital supply chain, according to Deloitte. New distribution centers are one of the most common construction projects throughout the area.
Healthcare Technology: Georgia’s healthcare IT sector is the largest in the country, with 225 companies and more than 30,000 workers. Four metro Atlanta companies were listed in the top Healthcare Innovations’ vendors for bioscience and healthcare technology. The industry looks as if it is poised to grow in the coming years.
Advanced Manufacturing: Advanced manufacturing companies are experiencing high job growth in Georgia, which includes roughly 270,000 individuals. Throughout the state, the advanced manufacturing sector has generated $61.1 billion over the last decade.
Thinking about moving to Atlanta or relocating soon, be sure to check out Hilldrup’s Atlanta move guide for more information on where to live and what to see and do around the city.