Atlanta is indeed home to some of the most affluent neighborhoods in the state of Georgia, with many multi-million dollar estates. However, compared to other major cities around the country, Atlanta real estate, overall, is still very affordable, despite the city’s rapid growth and booming economy. In fact, one of the biggest reasons why first-time homebuyers choose Atlanta is because they know they can get more home for their money while enjoying many of the same amenities and job opportunities that other large cities offer.
The upshot? If you thought you couldn’t afford a decent home in Atlanta, you might want to take another look. Here are eight Atlanta neighborhoods where median home sale prices are still under $1 million.
Midtown
Did you know it’s possible to live in the very heart of Atlanta without breaking the bank? Offering the ultimate in the urban lifestyle, Midtown affords plenty of shopping, dining, walkability and arts and culture, not to mention fantastic historic homes and luxury high-rise condos. And while prices are on the rise, they are still quite affordable on average.
Median sale price: $291,000
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Old Fourth Ward
This historic neighborhood’s recent revitalization has taken effect, making it one of Atlanta’s hottest destinations. Eclectic shopping and dining, converted lofts, restored historic homes and access to the BeltLine, together with the community’s exciting culture, make O4W an excellent choice for urban living. Despite the recent spike in prices over the past year, you can still get an exquisite home for less, if you act soon.
Median sale price: $412,000
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Inman Park
Hailed as Atlanta’s first suburb, upon its development in the late 1800s, Inman Park is now one of the city’s most coveted neighborhoods, located just east of Downtown and adjacent to the popular Little Five Points district. Home prices are rising quickly in this neighborhood, but there are still many properties under the $1 million mark.
Median sale price: $622,500
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Peachtree Park
While the Buckhead area is one of Atlanta’s most affluent neighborhoods, there are still a number of elegant communities offering homes under $1 million, such as Peachtree Park. This residential enclave features quiet neighborhood living just moments from shopping and dining — not to mention it’s collection of fabulous homes.
Median sale price: $575,750
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Virginia-Highland
Located adjacent to Midtown on the east side of Piedmont Park, this popular community is often referred to as “Atlanta’s most walkable neighborhood.” Trendy boutique shops, art galleries, sidewalk cafes and nightclubs – and the beautiful Piedmont Park – are all easily accessible. Yet, with all of these attractions, many homes in this neighborhood are still quite affordable.
Median sale price: $634,000
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Garden Hills
Here is another neighborhood in Buckhead where you can still find elegant homes under $1 million. Sandwiched between Peachtree Park and Peachtree Heights West, Garden Hills boasts a variety of historic and newer homes, with easy access to shops and restaurants along Peachtree and Piedmont Roads.
Median sale price: $490,000
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Cabbagetown
Another East Atlanta neighborhood experiencing a renaissance and resurgence of popularity, Cabbagetown is known for its eclectic array of converted lofts and restored bungalows, once a part of employee housing for a nearby textile mill. Today, it’s one of Atlanta’s thriving neighborhoods, and while home prices have risen dramatically in the past year, there are must-have deals around every corner.
Median sale price: $352,800
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Of course, there are plenty of Atlanta neighborhoods that offer a median home sale price of under $1 million — more, in fact, than we could cover in a single article. From upscale high-rise condos to historic bungalows and larger single-family homes in the suburbs, Atlanta real estate affords something for every taste. To learn more about some of city’s most popular, yet affordable neighborhoods, give Atlanta Fine Homes Sotheby’s International Realty a call today at 404.948.4812.