DALLAS, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Dallas-based Vive Funds, the leader in multifamily real estate investing, is well-established in the Atlanta market and remains bullish on the booming metro area due to the area's low unemployment, diverse economy, and unique demographics.
"We look for several factors when targeting a market — job market growth, low unemployment rates, a healthy renter's demographic, and young workers," said Veena Jetti, founder of Vive Funds. "Atlanta outperforms many other nearby regions in this criteria, and all of these trends are on a positive, upward trajectory that we're extremely excited about."
The Atlanta Regional Commission predicts that 2.9 million people will move to the Atlanta area by 2050. That will increase the population by almost 60% and indicates strong potential yields to investors in the multifamily space, Jetti said.
While the entire United States has steadily recovered post-pandemic, Atlanta's diverse economy has quickly propelled it as one of the hottest growth markets among large metros. All jobs lost during the pandemic have been recovered, and Atlanta's unemployment rate of 2.6% outperformed both the state's rate (2.9%) and the national rate (3.6%). More than 50% of the job gains were in utilities, transportation, business, and professional trade services, a demographic likely to be interested in renting.
Along with Atlanta's booming job market, the diverse population is likely to rent with a healthy renting increase of 11.9% year over year, making it a multifamily hotspot. The large reservoir of blue-collar workers tend to rent multifamily units instead of purchasing a single-family home, and Vive Funds predicts healthy multifamily growth for several years. While the construction of new multifamily units is increasing, average rent prices also increased by 14.7%, showing the delicate supply shortage. Now, construction of new multifamily units has slowed down, which will only increase the demand and potentially push up rents in the future.
Not only is Atlanta's demographic uniquely positioned to rent in the short term and long term, but its residents are diverse across both job seekers and retirees. The metro area offers options from swanky neighborhoods and exciting downtown areas to moderately priced multifamily and housing developments, making it an excellent home for any age group. Also, Georgia's low state tax rate of 5.75% is highly attractive to workers and small businesses. Vive Fund's innovative, proprietary processes target extremely high-growth areas with rigorous criteria, and Atlanta outperforms in all of them.
"Jobs and workers are a healthy mix that any state, regional, or city aspires for," Jetti concluded. "Our previous investments in Atlanta have broken performance records for our investors, and we're excited to watch this market continue flourishing."
For more information on Vive Funds and the Atlanta market, please visit https://vivefunds.com/.
About Vive Funds
Vive Funds was launched to fulfill our mission of carefully curating high-quality real estate investments. Our innovative strategy and our detailed process drive our core value of investor-centric projects. Vive has developed a rich network of global business partners to make early and transformational investments in assets that have the potential to do great things.
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Mike Albanese
mike.albanese@newswire.com
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