Stay informed about economy news and updates in Atlanta, GA.
Atlanta has been ranked as the second most financially distressed city in the U.S., according to a report by WalletHub. This alarming finding highlights ongoing economic challenges in the region, exacerbated by issues such as housing safety violations and a recent tragic apartment fire that claimed the lives of three children.
Atlanta has been identified as one of the top financially distressed cities in the United States, according to a recent report. This designation highlights critical economic challenges facing the city, impacting its residents and local businesses. The findings raise concerns about financial stability and the overall quality of life in Atlanta.
A Powerball ticket sold in metro Atlanta has earned its holder a $50,000 prize. As anticipation builds for the upcoming Powerball drawing, the jackpot is estimated at a staggering $260 million, prompting residents to check their tickets closely.
Atlanta's inflation rate rose by 1.9% in October, which is notably lower than the national average. The increase in housing costs, which surged by 3.4%, was the primary factor driving this inflation.
A recent study by Oxford Economics reveals that 40% of U.S. households cannot afford to purchase a home, necessitating a minimum salary of $108,000 to cover housing costs, property taxes, and insurance. This figure is nearly double the income required in 2019, highlighting the growing affordability crisis in the housing market. Experts emphasize the need for increased affordable housing to address this issue.
Mayor Andre Dickens, along with key figures from The Atlanta Women’s Foundation, will host the annual Community Investment Celebration to announce significant investments aimed at supporting women and girls in Atlanta. The event will highlight the impact of the foundation’s grantmaking in the community. Media attendance is encouraged, with a requirement to RSVP.
The Invest Atlanta Board has approved significant funding for affordable housing initiatives, committing $651 million to create or preserve 2,059 affordable housing units in Atlanta. Mayor Andre Dickens emphasized the administration's holistic approach to addressing housing affordability, aiming to support residents across various income levels.
Mayor Andre Dickens and the Atlanta City Council have proposed a historic $60 million funding initiative to combat homelessness in Atlanta. This investment aims to create up to 700 new units of affordable housing and supportive services for unhoused residents. The initiative, which includes a $50 million Homeless Opportunity Bond, marks the largest public investment in homelessness in the city's history.
The Dickens Administration has announced significant investments in Atlanta's infrastructure, including a $13.8 million upgrade for the Chattahoochee Water Treatment Plant and a $33.2 million complete streets project on Fairburn Road. These initiatives aim to enhance water resilience and improve safety and connectivity for residents.
A recent study by Zumper has ranked Atlanta as the 30th most expensive rental market in the United States for November, revealing a slight decline in rental prices compared to the previous year. This report highlights the ongoing challenges in the housing market, which continue to affect residents and potential renters in the city.