When most people think of Atlanta they probably don’t think of the cost of living. More likely, people think of the ’96 Olympics, our airport, or a host of other attributes. Atlanta’s cost of living, especially housing costs, is a real advantage when compared to other major cities with a large technology community.
On the commercial real estate side, Atlanta is much more affordable than other population centers. In my class A building, we’re subleasing office space on the 34th floor for $14/ft while the direct rate on the space is $31/ft. Our office is one of the nicest in the city for a technology company. To get an idea of that cost, the same space would be twice as expensive in Boston and three times as expensive in New York.
On the residential real estate side, Atlanta has a glut of condos making it possible to get a new construction high rise one bedroom unit for $120k and a two bedroom unit for $200k. These are new condos in a brand new building. Single family homes can be purchased new in the suburbs for $200k while in-town homes can be purchased for $350k.
Apartments are also affordable in Atlanta. Two bedroom units are available for under $1,000/mo while renting condos or rooms from owners can easily be found for $500/mo. There’s a diverse range of housing options available, and many are available with flexible terms.
Cost of living is an advantage for startups in Atlanta.