The Newnan Times-Herald

Subscribe Now

Subscribe Now

Local

Rent keeps climbing in Newnan


  • By Joe Adgie
  • |
  • Jun. 28, 2022 - 4:16 PM

Rent keeps climbing in Newnan

The Newnan Times-Herald

The rent is continuing to increase in Newnan, according to the July report from Apartment List.

According to the report, the average rent for a two-bedroom apartment in Newnan has gone up 1.8 percent over the last month to an average of $1,494 per month.

The rent has increased 12.8 percent since this time last year.

The report states that this is the fifth straight month that Newnan has seen apartment rent increases after a decline in January.

Rent increases have been seen all over the metro Atlanta area, with other metro areas seeing average rent prices far ahead of Newnan’s.

For instance, the average rent for a two-bedroom apartment in Alpharetta, north of Atlanta, is $1,970 per month, up 20 percent over the last year, the fastest-growing rent increase in the entire area.

As a whole, according to the report, rent has increased on average across the state. The state has averaged a rent increase of 14.9 percent. In Atlanta, rent has gone up by 12.6 percent over the last year. In Columbus, rent has gone up by 8.3 percent, and in Augusta, rent has gone up by 9.1 percent.

Nationwide, rent has gone up by 14.1 percent over the last year, for a national average of $1,339.

Very few places in metro Atlanta saw average rent prices go down, according to the report. Tucker had its average rent drop by one percent from June to July, while Suwanee’s average dropped by 0.7 percent.

According to Apartment List, the data is collected by taking median rent statistics from the Census Bureau, then extrapolated to the current month using a growth rate using the site’s listing data.