Remote work and limited supply are reshaping Atlanta’s real estate. Learn more about Atlanta exurb home buying in our latest blog post from Blake Collier!

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The narrowing price gap between Atlanta’s exurbs and its urban core reflects a broader shift in how Americans value space, flexibility, and overall lifestyle. As remote and hybrid work arrangements persist, proximity to downtown offices is no longer a dominant economic factor or reality that it once was. Buyers are prioritizing more square footage, newer construction in a lot of cases, perceived quality-of-life improvements, and amenities that exurban areas often deliver more readily than dense city centers.  Over the last decade, Atlanta exurbs have rapidly developed and created their own “town squares”, increased their walkability scores to shops, restaurants, breweries, parks, family green spaces, live music venues etc.  Towns like Rowsell, Alpharetta, Milton, Woodstock, Peachtree Corners, Dunwoody, and Cumming, just to name a few, are perfect examples of this development trend that has been a main driver of population growth outside Atlanta’s city core.  Additionally, limited housing supply in these new, desirable fringe communities have accelerated home prices upward, faster than in the city itself.

If exurban prices do surpass those of the core, it could signal a structural change rather than a temporary anomaly. Developers may respond by increasing supply in outer-ring markets, but infrastructure, zoning, and land-use constraints could limit how quickly that supply comes online. Meanwhile, first-time buyers who once relied on exurbs as an affordable entry point may find themselves priced out, shifting demand even farther outward or into smaller, less competitive metros.

Looking ahead, Atlanta could become a case study for other fast-growing regions. While most major metros still maintain a significant pricing discount in exurbs, the same forces, migration patterns, remote work, and housing shortages are present nationwide. If those trends continue, Atlanta’s experience may foreshadow a future where the traditional urban-to-exurban price hierarchy becomes far less predictable. 

“The narrative that corporations are buying up all the homes is politically convenient but factually wrong. For the market to be healthy, well-managed, and responsive to the needs of the families living in these homes, you actually need more institutional participation, not less,” quoted GlobeSt.

In last week’s newsletter, I also discussed the issues with provisions in the pending legislation of the 21st Century ROAD to Housing act. The legislation which definitely has some objectively beneficial items has been in the forefront of the dialogue with all residential rental investors for several months as its iterations have altered its scope. Most specifically, focus has been on a forced 7-year sale that almost certainly would limit supply nationwide by some estimates of up to a 40,000 home reduction. 

And as Auben strategic partner Ryan Smidt said to the NYT, deny renters single family experiences who are priced out (or electing out) of home-buying markets. 

Institutions hate uncertainty and volatility and there are boatloads of both currently. But this temporary sidelining of institutional capital could be a tremendous opportunity for small to medium-sized investors to more actively move in markets that are already undersupplied or moving to undersupplied status. 

In all Auben markets, affordability continues to be a problem and is being met by an aging populace wanting less space and less responsibility in their living. Even with normalizing rental rates and higher operating expenses, increases in demand are creating attractive opportunities for investors to achieve results similar to what Auben has experienced in its nearly fully-leased rental community Cedar Creek Estates in Jacksonville, FL. 

If you are an investor wondering how you can take advantage of this market dynamic please reach out to Chris Detreville to learn more about exclusive Auben opportunities including homes we have for sale in Houston. And next week look for our first episode of Real Estate Rewind where we discuss how individual investor owners always have and can always be part of the housing supply solution.

Looming legislation could hurt the very people it claims to help. 

“If this legislation passes, there won’t be a build-for-rent conference next year,” he said.

As I approached the gate for my flight back to Charleston from Nashville, I ran into an acquaintance who works for an emerging build-for-rent developer. Like me, he just attended the IMN Build-to-Rent conference in Nashville, TN. 

For 22 years, I have been attending residential real estate conferences to learn, network and take the temperature of the residential real estate industry. The shadow hanging over the past couple of days in Nashville was unique. 

It’s all wrong, was the overwhelming opinion of industry experts discussing the 21st Century ROAD to Housing Act provision around the unconstitutional nature of a forced seven-year sale. This compounded frustration around a BFR car/veout which had evaporated over the past 60 days. 

Claims of “It can’t possibly be passed” were met with citations of unprecedented punitive tariffs.

These are uncertain times. 

However, attendees were certain about their thoughts on the 21st Century ROAD to Housing Act.

Opinions were unanimous around the unintended consequences of legislation that could harm everyone from tenants to homeowners to corporations and communities. 

Just as senate politicians have universally supported an easily endorsable headline, residential real estate professionals have united in their campaigning against certain bills in the act which could simultaneously hurt both supply and affordability. 

The irony is the villain in this drama is nothing more than an evolved residential asset class: build-for-rent communities, which have filled a market gap for those who can’t or chose not to own single family homes. 

Ownership of single family homes is unquestionably one of the best generational wealth creators. However, home ownership is not always the best option and this has long been the case in many unaffordable markets. 

Residential rental properties have always been and are now, with build-for-rent still emerging, overwhelmingly supplied by small individual investors whose couple of home inventories comprise the majority of rental dwellings most Americans live in. 

But we are in a new world of residential renting where the renter profile and their dwellings have changed. When you go to a car dealership, you do not know which cars will be purchased and which ones will be leased. This is the new opportunity we have with housing in America today. 

New stock of rental homes have created experiences very similar to home ownership. Purpose built and experience-designed rental communities provide an attainable living option that didn’t previously exist. 

Auben strategic partner, Ryan Smidt, Chief Executive of Clay Residential, a Houston builder of single-family rental communities in Texas recently told the New York Times: “It is as if the bill views renters as being not deserving of a single-family lifestyle.”  

A nascent housing solution is slated to be handicapped just as it is gaining momentum.

So how did we get here? It all started on the heels of the Great Financial Collapse.  

Check back for more discussion next week and the launch of our podcast

For years us Atlanta investors treated the exurbs like the bargain basement—cheaper buys, okay rents, solid cash flow if you picked smart. Man, that’s shifting quick. The price gap to inner suburbs? Pretty much gone now. Some outer spots might even top core prices soon. 

If you’re in it for buy-and-hold rentals, this isn’t just news—it’s your cue. Ownership’s getting pricier out there, so renting starts looking real good. Play it right, and it’s rocket fuel for your portfolio. 

What’s Driving This? 

A couple of things piling on: 

• Hybrid jobs mean commutes don’t sting as bad. 

• Land and builds cost more, shoving everyone outward. 

• Suburb shoppers are flooding exurban listings. 

Price diffs? Down to a couple of grand—nothing on a mortgage. Tough for buyers, gold for renters like us. 

Owning Hurts, Renting Sticks 

Prices climbing faster than paychecks keep folks renting longer, even if they want keys. You get: 

• Deeper renter pools chasing nice single-families or small multis. 

• Families hunkering down in decent schools, skipping the buy jump. 

• Folks paying up for space, yards, work-from-home setups. 

Exurbs aren’t “budget only” anymore—they’re where people live when buying is off the table. 

How to Crush It Out There 

Don’t chase shiny prices. Winners run it like a business. Here’s my take: 

Underwrite Tough 
Realistic rent bumps, fat capex reserves (old houses eat money), high rates/insurance baked in. 

Rentability > Cheap 
Schools, jobs, basics first. 3/2s with offices crush it. Pay a bit more for sure-thing spots. 

Management’s Your Edge 
Skip it and watch profits vanish. Need quick leases, tough screens, cheap-but-smart fixes. Talk straight to cut turnover. 

Go Submarket Deep 
Cluster buys for easy ops—shared vendors, tenant types. Learn the local game: codes, utilities, what rents pop. Relationships beat Zillow. 

Watch Your Back 

Not all roses: 

• Jobs pull cityward? Demand dips. 

• New builds flood in? Rents stall. 

• Far vendors jack costs if you’re sloppy. 

Eyes wide—ops rigor turns demand into dollars. 

Why Local Pros Like Us Win 

At Auben Realty, we’re your Atlanta eyes. We spot hot exurbs, price to snag quality tenants, tweak fast on data. Not vendors—partners. 

Exurbs are the frontline now, not afterthoughts. Nail underwriting, team up local, and watch rents climb as buys fade. Out-of-staters, same deal—connect with me to map your move before the crowd hits. 

Not long ago I was talking with an investor who said something I hear all the time. 

He told me, “I’d love to invest in real estate, but I’m not ready to buy an apartment complex.” 

I laughed and told him the same thing I tell a lot of people. Almost nobody starts there. 

Most real estate investors begin much smaller, sometimes with a single property. Over time they learn the market, gain confidence, and build from there. The key thing to understand is that real estate investing isn’t one-size-fits-all. 

There are many different ways to participate depending on your goals, timeline, and the level of investment you’re comfortable with. 

At Auben Realty, we work with investors at every stage of that journey, from someone buying their first rental home to experienced investors expanding into new markets or larger projects. Our team actively sources investment opportunities across multiple markets so investors can choose the path that best fits their goals. 

What we’ve seen over the years is pretty simple. The best investment strategy is the one that fits the investor, not the other way around. 

Different Investors, Different Strategies 

Some investors are focused on steady monthly cash flow. 

Others are thinking more about long-term appreciation. 

Some want to be very involved with their properties, while others prefer opportunities that allow them to take a more hands-off approach. 

Real estate makes all of these paths possible, which is one of the reasons it continues to attract investors looking for both income and long-term wealth building. 

Our role at Auben is not just to sell properties. It is to help investors understand what opportunities exist and how those opportunities might fit into a broader investment strategy. 

Three Common Paths Investors Take 

Over the years, I’ve noticed investors tend to enter real estate in a few different ways. None of them are right or wrong. They simply reflect different goals and starting points. 

1. The First Property 

Many investors start with a single rental property. 

This approach allows someone to learn the fundamentals of real estate investing. They begin to understand how the numbers work, how rental demand looks in different neighborhoods, and how property ownership fits into their overall financial plan. 

For a lot of people, that first property becomes the foundation they build from over time. 

2. Turnkey or Build-to-Rent Investments 

Some investors prefer opportunities that are already designed for long-term rental performance. 

Build-to-rent communities, like the projects we’re working with in Houston, fall into this category. These properties are constructed specifically for the rental market, which can make them attractive to investors looking for predictable rental income and modern housing that tenants want. 

Because these homes are newly built and designed with renters in mind, they have become a popular option for investors looking to grow a portfolio without taking on a major renovation project. 

Investors often evaluate opportunities like this by comparing projected rental income with the purchase price. For example, if a property rents for around $2,200 per month on a $300,000 purchase, that can translate into a solid long-term return once financing, expenses, and appreciation are factored in. 

Everyone’s numbers will look a little different, but examples like this help explain why build-to-rent properties have become such a popular strategy. 

3. Unique Development Opportunities 

Other investors are interested in opportunities tied to specific locations or developments. 

Projects like The Clubhouse in North Augusta represent a different type of real estate investment. These opportunities combine property ownership with long-term growth tied to the surrounding area. 

Investments like these often appeal to investors who are looking beyond a single rental property and thinking about how real estate fits into a broader investment strategy. 

Access to Opportunities You Won’t Always Find on Your Own 

One advantage of working with Auben is that many of the opportunities we bring to investors, including projects like our Houston build-to-rent community and The Clubhouse in North Augusta, are not widely available on the open market. 

Our team works closely with builders, developers, and investment groups to identify opportunities that make sense for investors. Sometimes that is a single rental property. Other times it is a larger development project or a specialized investment opportunity. 

The goal is simple. Help investors access opportunities that support their long-term strategy. 

The First Step Is Understanding Your Options 

One thing we tell investors all the time is that you do not have to start big. 

Many investors begin with one property and build from there. Others step into opportunities that match their financial goals and investment style. 

Real estate investing is not about following one specific path. It is about finding the path that works for you. 

Ready to Explore Investment Opportunities? 

If you are thinking about investing in real estate, or simply want to better understand the opportunities available, our team at Auben Realty is happy to help. 

We regularly work with investors to evaluate opportunities, run the numbers, and determine which strategies best align with their goals. 

Whether you are purchasing your first investment property or expanding an existing portfolio, the right opportunity often starts with a conversation.