The Cost of Housing Has Skyrocketed in Atlanta-Sandy Springs-Roswell, GA | Georgia

The emerging charge of refuge has been one of the key elements of the present surge in inflation that started across the center of 2021. According to the hot shopper value index abstract from the Bureau of Labor Statistics, Americans have been paying 8.2% extra to stay a roof over their heads in comparison to March closing yr.

Only transportation products and services, electrical energy, and meals costs have higher at the next charge over the similar 12-month duration, neatly over the 5% build up in the all pieces CPI — an inventory that features a 17% lower in gas costs, an 11% decline in used automobile and truck costs, a three% build up in attire costs, and a just about 4% upward push in the costs of clinical commodities, comparable to over the counter and prescribed drugs and clinical apparatus and provides. (These are the prices that spiked the most compared to this time last year.)

The Wall Street Journal reported in April that native house costs and apartment prices are closely influenced by way of migration patterns, and as Americans relocate from high-cost metropolitan spaces like Los Angeles and New York to lower-cost locations like Tampa and Dallas, they convey up housing inflation.

According to CPI information, the fee of housing in the Atlanta-Sandy Springs-Roswell metro subject in Georgia is up 12.1% in comparison to closing yr, the fourth greatest build up of the 23 metro spaces incorporated in the BLS research.

As of 2021, the latest yr of to be had information from the U.S. Census Bureau’s American Community Survey, the median house price in the metro subject was once $300,000, and the median gross per 30 days hire was once $1,370, the 103rd and forty first best possible, respectively, of all 386 U.S. metro spaces.

Metro area-level housing CPI is for February 2023 and year-over-year alternate was once calculated by way of evaluating to February 2022.