A tony, key-shaped slice of northern Atlanta is predicted to be the city’s “hottest” neighborhood for real estate in the new year, based on recent sales and rent activity, according to a popular online marketplace.
Fastened to the west side of Peachtree Road, between Piedmont Hospital and Ga. Highway 400, Peachtree Heights West is more commonly associated with high-dollar estates than molten price spikes.
But HotPads seems confident in its prediction that Peachtree Heights West will reign supreme as the hottest of 10 hot neighborhoods in 2018. Runners-up are Grove Park and Ormewood Park, respectively.
To compile its temperature-based forecast, HotPads researchers “looked for places with quickly rising rents and home values, few price cuts, and neighborhoods where there are an increasing number of rental page views” on the site.
They said this of Atlanta’s piping-hot champ:
“There are almost 12 percent fewer price cuts on listings in the Peachtree Heights West neighborhood this year compared to last year, signaling growing demand in the area. Monthly rent in Peachtree Heights West is $225 more than monthly rent in the city of Atlanta as a whole, with home values projected to increase 2 percent in 2018.”
Not surprisingly, six of Atlanta’s 10 “hottest” neighborhoods have lower median rents than the city as a whole ($1,533 per month), with four of them being snuggled up to the Beltline.
Another four, such as Greenbriar and Venetian Hills, are in generally cheaper Southwest Atlanta.
Rounding out the top 10 is ironically named Polar Rock, which is due south of downtown near Lakewood Amphitheater.