Predicting the future of housing is a lot like predicting the weather. Even when you have a lot of evidence and a lot of experience reading the signs, it doesn’t always pan out. Back in 2014 a lot of predictions were made about what housing in Atlanta would look like at the end of 2015. As we approach the end of the year, we can see which predictions actually came to pass, and speculate about where they’re going to go in the future.
1. More Suburban Single Family Dwellings
The biggest hit for predictions was the continued rise of suburban single family dwellings. This is because it’s a twofold correct prediction: the building of suburban single family dwellings is half, but the other half is that single families are staying out of the deep city centers and urban environments where possible.
The construction of new, single family homes has increased over 2015. More and more people are choosing to keep their family in the Atlanta suburbs, and it’s not hard to see why. With many public school options, more space for their families, and newer homes, businesses, and other perks to living outside of the dense urban networks the families who can afford it are enjoying the perks of steering clear of the deep urban areas.
That doesn’t mean that people aren’t getting into the urban hearts of Atlanta, because they are. It just shows that when a single family unit can afford it, they’re going to opt for the white picket fences. Urban Atlanta is being revitalized in two different ways.
2. Accelerated Gentrification
Urban Atlanta hasn’t been different from other urban areas: areas with lower income suffered, creating a spiral into lower property values and increased poverty, crime, and other issues. However, with construction of single family dwellings in the suburbs, people and families that didn’t fit that description have started to move into lower income neighborhoods. The rents (or purchasing price) for apartments and homes are much lower. When more and more people with greater incomes enter the neighborhood, it’s transformed. More specialty stores move in, and lower income people move out as the rents gradually increase.
People are split on the impact of gentrification. Many see it as a purely good thing. The truth is that some older neighborhoods lose the things that made them unique, and people who lived there when things were more desperate no longer have their homes. It’s a mixed bag, but good or bad it’s all coming to Atlanta. More and more higher income people are choosing walkable neighborhoods and urban areas to call home, and the city is changing to reflect that.
3. Older City Centers Get New Life
Gentrification isn’t the only way that older Atlanta areas get more love. Mixed purpose land and buildings are attracting more permanent residents, leading to more vibrant communities. Unlike gentrification, where price is the main attraction, the walkable and diverse area is what primarily drives people to move to and stay in older areas of the city. This denser population does lead to more advantages as the areas have the income to support more shops, restaurants, and professionals.
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