Overview of the Commercial and Residential
Real Estate Market in Georgia
The state of Georgia combines a storied history with diversity, a huge economy with 63 natural parks and numerous historical sites, and 115 colleges with a mostly young and well educated population. Often referred to as the New York of the South, Atlanta boast a population of 447,841, according to the United States Census. The greater Atlanta metropolitan area is home to 5,522,942 people, making it America's ninth largest metropolitan area. That number is more than half the total population for the state of Georgia (9,992,167). Approximately 87 percent of Atlanta residents over the age of 25 have a high school education. Forty six percent have a Bachelor's degree or higher. The median value of homes in the Atlanta area is $219,900; almost 30 percent higher than the $156,400 median home value for the state of Georgia. The ACS Census reports that the median household income for the Atlanta area ($54,628) is $3,257 higher than the median household income for the United States ($51,371). The home ownership rate for Georgia is 66 percent. Atlanta's ownership rate is 46 percent. Approximately 54 percent of Atlanta households live in multi-unit buildings. That is more than double the 20.5 percent of households across the state living in apartments or condominiums.
The Greater Atlanta area boasts a $304 billion economy. That is the eighth-largest in the United States and ranks as the 17th-largest world-wide. Atlanta has the highest concentration of Fortune 500 companies and is home to the global headquarters of iconic firms like Coca-Cola, Home Depot, UPS, AT&T, Newell Rubbermaid, and Delta. With 46 percent of Atlanta's workforce having a college degree compared to the 27 percent of workers nationwide, demand for commercial, office, and retail space remains consistently high. A large number of young adults just starting out keep apartments in high demand. There are more than 3,154 people per square mile in Atlanta. The state of Georgia has a population density of 168 people per square mile.
Office Rental and Executive Suites in Atlanta, GA
How to Become a Realtor in Georgia
To obtain a real estate license in Georgia, you must be at least 18 years old and have a high school diploma or GED equivalent. After successfully completing the 75-hour real estate salesperson pre-license course, you have to pass the state exam with a score of at least 75 percent. To receive a license, you need a certified criminal history report. The report must be less than 60 days old on the day you get your license. The Georgia Real Estate Commission (GREC) overseas all real estate licensees and administers Georgia's real estate license laws. If you have a criminal conviction, you must submit an Application for Person with Prior Criminal Conviction(s) or Disciplinary Sanction(s) to the GREC. To protect the public interest, the GREC may choose to deny the application of a person convicted of a crime. Their decision depends largely on the circumstances.