The renter percentage in zip code 30080 has conversely decreased from 58% in 2013 to 50% in 2022. Despite this decline, average rent prices have shown a consistent upward trend. In 2013, the average rent was $1,124, which increased to $1,491 by 2022, representing a 32.7% rise. The most significant increase in rent prices occurred between 2020 and 2021, jumping from $1,459 to $1,582, a 8.4% increase in a single year. This trend suggests that despite a decreasing proportion of renters, demand for rental properties remained strong, possibly due to population growth in the area, which increased from 44,906 in 2013 to 51,113 in 2022.

In 2023 and 2024, the real estate market in zip code 30080 continued to evolve. The average home price in 2023 reached $441,763, a 3.1% increase from 2022. In 2024, it further rose to $457,143, showing a 3.5% increase from 2023. Concurrently, federal interest rates climbed significantly, reaching 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact future homeownership trends in the area.

Looking ahead, predictive models suggest a continued upward trend in both average home prices and rent costs for zip code 30080 over the next five years. Average home prices are projected to surpass $500,000 by 2027, while average rent prices could reach $1,700 by 2028. However, the rate of increase may slow down compared to the rapid growth observed in recent years.

In summary, zip code 30080 has witnessed a shift towards increased homeownership, accompanied by substantial growth in both average home prices and rent costs. The area has demonstrated resilience in its real estate market, with property values appreciating significantly despite fluctuations in federal interest rates. As the population continues to grow and the balance between owners and renters evolves, the real estate dynamics in this zip code are likely to remain dynamic in the coming years.