As young adults in their 20s and early 30s (commonly called millennials”) continue to be a dominating force in the real estate market these days, we’re seeing a growing number of these emerging affluents choosing to buy homes in Midtown, Atlanta. Between this area’s convenience, walkability and upscale urban appeal, Midtown has recently become a “hotspot” for up-and-coming young professionals looking to further their careers, start families, etc. What is it about this neighborhood that is attracting these emerging affluents? We’re taking a look at a few of the key factors driving this trend.
The draw of a city lifestyle
While recent research has shown an increasing number of the millennial generation gravitating toward the suburbs, the fact remains that many of today’s twenty-somethings still find the urban lifestyle very appealing. While traffic remains an issue in so many parts of the metro, commutes are a thing of the past for many in Midtown because work and home are close together. From tree-lined neighborhoods and nearby green spaces to fine shopping, dining and nightlife, Midtown offers easy access to all of it. There’s no place in Atlanta closer to the “heart of it all” than Midtown.
With walkable neighborhoods in high demand, Midtown comes in with a WalkScore of 88, making it the sixth most-walkable neighborhood in Atlanta. Most places in Midtown are within moments to great restaurants, shops and green spaces (including the ever-popular Piedmont Park), and most of your daily errands can be accomplished quickly. While traffic remains an issue in so many parts of the metro, commutes are a thing of the past for many people in Midtown because work and home are close together. (Incidentally, for those who prefer to travel by bike, Midtown also is one of the most “bike-able” neighborhoods in town.)
Easy access to public transportation
In addition to being walkable and locally convenient, Midtown is one of just a few places in Atlanta where it may be possible to live without a car. Public transportation is widely available here via MARTA trains and buses, giving residents convenient access to many other neighborhoods of around the city. Additionally, the ongoing development of the Atlanta BeltLine is providing even greater access through the walking and biking trails that connect to many other Atlanta neighborhoods.
Diverse living options
Historic neighborhoods? Midtown has them. Cozy bungalows and townhomes? Midtown. Stately, restored homes? You’ll find those here, too. Luxury high-rise condos? Yep. There is perhaps no area of Atlanta containing a wider range of housing options than Midtown, making it suitable for almost any lifestyle preference. Rising-star professionals are just as at home in Midtown as young couples starting a family, giving this area a broad appeal to emerging affluents with a variety of priorities.
Homes at a variety of price points
Despite its popularity and convenience, homes in Midtown Atlanta can be remarkably affordable, making it an excellent option for young adults still establishing their careers. Median home values here sit at around $275,000 (compare that to nearly $750,000 in nearby Morningside), and it’s not unusual to find a comfortable luxury condo with plenty of amenities for under $300,000. Of course, if you want a restored historic Craftsman-style home for $1.5 million, you can find your share of those, as well! Whatever your budget, price doesn’t have to stop you from buying in Midtown.
You can see by this brief overview that there are a multitude of reasons why Midtown carries so much appeal for today’s emerging affluent. If you plan to buy a home in Atlanta and are attracted to the many features of Midtown, it’s important to have an experienced real estate agent with deep local knowledge of this area to help you narrow your options. Atlanta Fine Homes Sotheby’s International Realty would love the opportunity to assist you in finding your dream home in this exciting part of Atlanta. To learn more about availability, give us a call at 404.948.4812.