Within the state of Georgia, Atlanta happens to be the most populous city, with about 420,000 people calling the city home. The center of the huge Atlanta metropolitan area, this large metro area is home to well over five million people. Not only is Atlanta one of the largest metro areas in the United States, but it’s also considered an international city, making it attractive for those looking for a rent to own house in the state of Georgia.
Home buyers considering lease purchase homes in Atlanta will probably want to learn more about the local economy, climate, potential job opportunities and more. Here is a closer look at Atlanta and information on what homebuyers can expect from the area.
Jobs in Atlanta, GA
A look at the economy in Atlanta shows that it’s the country’s eight largest economy, encompassing over $300 billion. A huge part of the economy is made up of corporate operations, since the city is a hub for the headquarters of various corporations. In fact, Atlanta is home to many Fortune 500 companies. It is home to the global headquarters of many different corporations, including UPS, Delta Air Lines, The Coca-Cola Company, Newell-Rubbermaid and The Home Depot. Other dominant sectors of the city’s economy include media operations, higher education and government administration.
This huge economic hub is attractive to those considering moving to Atlanta, but it’s important to note that the economy has been hard hit by the financial crisis of 2008. The housing market in the area has had a tough time, with home prices continuing to drop in 2012.
Rent to own in Atlanta, GA
When looking for lease purchase homes in Atlanta, it’s important to consider the job opportunities in the area. The financial crisis and country-wide recession has affected the job market in Atlanta significantly. Currently, the unemployment rate within the city is higher than 9% and higher than the national average unemployment rate. However, in spite of a high unemployment rate, recent job growth is positive instead of negative, with jobs increasing by more than 1%. The diverse economy is a bonus for those trying to find jobs in the area.
Rent to own homes in Atlanta are attractive to many due to the unique climate that the city has to offer. It’s classified as a humid subtropical climate. However, since Atlanta has a high elevation, it’s climate is different than many other cities located at close to the same latitude. The summers are usually humid and warm and the winters are usually quite mild. Winter highs rarely dip below 40 degrees F and the average temperatures in the summer are in the high 80s and low 90s. Rainfall in the area is usually abundant and the area usually only sees a light dusting of snow each year.
Education in Atlanta, GA
The education options of the city are important to families looking for lease purchase homes in Atlanta. Public schools in the city spend approximately $6,729 per student, which is higher than the average school expenditure around the country. The student to ratio is low as well, only 14.2:1 in the public school system. Charter schools are available in Atlanta and parents can find several private school options to consider as well. When it comes to higher education, the city is home to more than 30 universities and colleges. Some of the well-known options include Emory University, Georgia Institute of Technology and Georgia State University.
Pros and Cons of living in Atlanta
Homebuyers considering a lease to own in Atlanta will find that the city comes with its own unique pros and cons. While the economy has been hard hit, the presence of many big corporations and a diverse economy has still kept the job market growing. The unique climate is also attractive and with home prices low in the area, it’s a great time for people interest in buying a home.