Socio-Economic Overview

Atlanta has long been the economic powerhouse of the Southeast. The area’s quality of life, extensive infrastructure and relatively low costs have maintained its attraction as the leading net new-job generator and newcomer magnet over the last decade. The Atlanta MSA continues to experience unprecedented economic activity, including exceptional annual population growth and increases in personal income.

According to the U.S. Census Bureau, the Atlanta metro area ranked #1 in the nation’s 361 metro areas for new residents. The MSA gained 890,000 residents between 2000 and 2006, rising from its ninth-place ranking last year, with a 2007 population of 5.1 million. New jobs and a higher quality of life will continue to attract an average of 60,000 to 70,000 people annually.

According to Claritas Inc., the 2007 estimated population for Metro Atlanta is 5.1 million, a 20.6 percent increase since 2000. The area will continue to experience an increase in growth over the next five years; the Atlanta MSA population is projected to grow by 11.46%, as compared to the U.S. projected population growth of 4.8%.

Atlanta’s 2007 estimated average household income is $76,961, compared to the U.S. average household income of $65,849. Atlanta is a young city with an estimated median age of 34.28 and a relatively small average household size of 2.7.

Atlanta’s median cost of living is lower than the national average for the United States, and significantly lower than average compared to similar-size markets. The average sales price of a 4-bedroom 2-1/2-bath home is $271,250, which is lower than many other metropolitan areas such as Seattle, Cincinnati, Denver, San Francisco and Chicago, to name a few.