Amazon's HQ2 could lead to higher rent, home prices in Atlanta - CBS46 News

Amazon's HQ2 could lead to higher rent, home prices in Atlanta

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Source: WGCL Source: WGCL
ATLANTA (CBS46) -

Atlanta is now on the shortlist to be home for Amazon's second headquarters. The company announced Wednesday that the city is among 20 that could win the bid. 

One of the factors that made Atlanta attractive is affordable housing. 

"We have the suburbs, we have intown, midtown, we have so much to offer a large company with a lot of different employees that have different needs and interests." 

It's why so many other major companies like Delta, Home Depot and Coca-Cola are based here. Adding in Amazon, its 50,000 jobs and potentially $5 billion worth of business coming to the city, realtors say will contribute to higher home prices for all of us. 

"In 2017, housing appreciation, depending on where you lived went up between 3 and 6 percent, so we would anticipate to have the same growth for 2018 and 2019 as well," said Jamie Turner with Engle & Volkers. 

That would add between $5,000 and $11,000 to $185,000. And if you rent instead of own, you'd pay more there too. 

According to ApartmentList.com, Amazon's HQ2 would Increase rents by point 5 to point 7 percent a year. If your rent is 1500 that would add another 75 to 100 dollars a month. And where would these new employees live? 

That would depend on their lifestyle of course along the Atlanta Beltline would be a favorite. But realtors say don't rule out the suburbs. 

"Cobb County has amazing schools, and therefore would probably get a lot of Amazon people moving out to the Cobb County area and all up and down the 400 corridor as well, those are popular places to live," said Turner.

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