The US Census Bureau estimates that the average U.S. home sales price is a few thousand dollars less than $250,000. How much house will this buy in some of Atlanta, Georgia’s trendiest and most desirable neighborhoods? My survey of homes currently listed for sale on the Atlanta MLS showed that condos and townhouses are pretty easy to come by at this price. A detached single family home will cost more money – in some cases, a lot more.
Perimeter – The Prescott at Park Place
The Perimeter area is known for its trendy restaurants and flourishing business and shopping district. It’s one of my favorite areas of the city and living there has been one of my longtime dreams. In this neighborhood, this price can buy a top-floor high rise condo unit with a concierge, spacious kitchen with granite countertops, hardwood floors throughout, a pool, and great views of the city.
Square Feet: 1,298
Virginia Highland – The Carlton
Viginia Highland is one of Atlanta’s most historic neighborhoods. Not only does buying a home here for around $250,000 narrow the selection down to only townhomes and condos , it also means spending a little bit more. An extra $10,000 nets a fully updated all-brick condo with a large master bathroom and its own 1 car garage.
Square Feet: 1,628
Inman Park – Lake Avenue
The Inman Park neighborhood is a pedestrian friendly area that’s in a good school district and convenient to public transportation. Although it’s way over the budget, a fully renovated 1920s bungalow currently for sale has 4 fireplaces, a beautifully landscaped yard, and many of the house’s original architectural details have been retained.
Square Feet: 1,342
Buckhead – Peachtree Park
Buckhead has been named one of the 10 “Top Affluent Communities” in the country by the Robb Report and is perhaps Atlanta’s most sought after neighborhood. So, it wasn’t easy finding a single family home in Buckhead for this price. But, I found a 1940s bungalow with a private backyard, a sunroom, and the original hardwood floors that are still in beautiful condition. Not surprisingly, it also needs some updating and cosmetic repairs.
Square Feet: 1,075
Since Georgia’s average home sales price is significantly lower than the U.S. Census Bureau’s national estimate, it’s clear that $250,000 will buy a lot of house in several of Atlanta’s surrounding suburbs and other parts of the state. Unfortunately, the reality is that it won’t buy nearly as much in Atlanta’s trendiest neighborhoods.
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