As the capital and largest city in Georgia, Atlanta is a major real estate market that offers lucrative opportunities for investing in rental properties. Several factors make Atlanta an attractive place to purchase investment property, including a growing population, expanding job market across industries, high rental yields and relatively affordable home prices compared to other major US cities. When looking to buy the best investment property in Atlanta for optimal returns, key considerations include proximity to downtown and midtown, access to public transit, neighborhood demographics and development plans. This article explores the top neighborhoods for profitable rental properties in Atlanta based on these criteria, particularly those well-positioned for price appreciation over time.
West Midtown – Up and coming area near downtown undergoing massive redevelopment
Over the past decade, West Midtown has transformed from a post-industrial neighborhood to a trendy, upscale mixed-use community. Its location just northwest of downtown near Atlantic Station and Georgia Tech offers easy access to major employment hubs. Ongoing projects are adding thousands of new apartments, shops, restaurants and offices throughout West Midtown along the Beltline corridor. As the area rapidly gentrifies, property values have skyrocketed. But new development opportunities remain, making West Midtown one of the best places to invest in Atlanta real estate for rental income and long-term capital gains.
Old Fourth Ward – Historic neighborhood east of downtown with the Beltline catalyzing growth
Situated just east of downtown, Old Fourth Ward boasts a prime location adjacent to Ponce City Market and the wildly popular Eastside Trail. This section of the Beltline has sparked substantial new mixed-used development in the area, leading to major demographic shifts as young professionals displace longtime working-class residents. Despite rising prices, Old Fourth Ward remains more affordable than Midtown and neighborhoods west of downtown. The walkability, amenities and improving housing stock make this a solid option when evaluating the best real estate investments in intown Atlanta neighborhoods.
Reynoldstown – Intown neighborhood near Beltline offering development opportunities
Bordering Old Fourth Ward and Cabbagetown, Reynoldstown represents one of the last undervalued intown neighborhoods in Atlanta with good access to downtown. Its location just south of the Atlanta Beltline’s Eastside Trail positions the neighborhood for positive transformation over the next decade. Already the area is transitioning from industrial to residential uses, with new restaurants, shops and renovated homes attracting buyer interest. With rail transit and the Beltline extending further east, savvy investors can still find fixer-uppers and vacant lots in Reynoldstown suitable for new construction at reasonable prices that make solid long term real estate investments.
Kirkwood – Popular East Atlanta community retains neighborhood charm
One of Atlanta’s most desirable in-town neighborhoods, Kirkwood offers an affordable alternative to Decatur with a similar feel. This East Atlanta community has become tremendously popular in recent years due to its family-friendly character, charming bungalows, walkability and independent restaurants. Proximity to downtown, Decatur and Emory University drive strong demand for rental housing. Yet favorable pricing compared to nearby areas allows investors to secure reasonable returns on smaller multi-family properties in Kirkwood, making it among the best places to purchase investment property in Atlanta.
Pittsburgh – Up-and-coming SW Atlanta neighborhood near new stadium development
The Pittsburgh neighborhood sits just southwest of downtown Atlanta, close to the airport and major highway access. Its proximity to the Gulch and other neighborhoods set for large-scale redevelopment makes Pittsburgh a prime target for investors seeking undervalued properties with long-term upside. Already the community has begun transitioning thanks to spill-over demand from adjacent Mechanicsville. With the Westside Park and other new projects on the horizon, purchasing investment rental property in Pittsburgh allows benefiting from rising property values over the next 5-10 years driven by increasing rents.
In summary, the top neighborhoods for profitable Atlanta real estate investments currently are West Midtown, Old Fourth Ward, Reynoldstown, Kirkwood and Pittsburgh. Each area offers affordable multi-family properties with strong rental demand and ample room for price appreciation over the next decade due to proximity to major job centers and mixed-use transit development. Savvy investors targeting the best investment property locations in Atlanta should focus search efforts on these key intown communities.