Median Georgia Rent Is at $1,799, Below the National Median

While the rate of inflation in most sectors of the economy has slowed over the last year, the cost of shelter in the U.S. remains high for many consumers. Inflation data released by the Bureau of Labor Statistics in October 2024 revealed that while the Consumer Price Index overall was up 2.4% year-over-year, the index for shelter had risen 4.9% over the same span. Increasing rent prices have been a major reason why.

The dynamics of the rental market in recent years largely reflect simple supply and demand. In the years following the housing crash and Great Recession, the number of new housing construction projects plummeted and were slow to recover over the course of the 2010s. Around the same time, the Millennial generation—America’s largest, with more than 72 million members—began to reach adulthood, introducing greater demand in the market.