Georgia Trendy Neighborhood Is Among The Most Expensive
We are well aware that the cost of living, especially in major markets, has been on the rise. Yet many big cities still have unique characteristics that set them apart. Architectural Digest recently combined these two factors to come up with a list of the most expensive trendy city neighborhoods, and an Atlanta area was named.
To start, the Atlanta area featured here has a traditional charm. It combines that comfortable, neighborly feel, yet it’s modern enough to draw in residents from all over. The bad news is that it is very pricey.
“Living in the trendiest neighborhoods in the United States often means you’ll have to forgo a walk-in closet, designated parking space, and even an in-unit washer and dryer,” the article states.
However, to determine the lifestyle cost in these trendy cities, Architectural Digest assumed the residents still have enough cash (after living expenses) to have fun. Therefore, they assumed the average resident would splurge on certain habits. This includes attending shows, art exhibits, local coffee shops, and restaurants weekly.
Old Fourth Ward Neighborhood Requires The Twelfth Highest Income
To be exact, Architectural Digest found that you need a salary of $70,760 to afford monthly rent. This would enable you to partake in the aforementioned neighborhood activities. 13% of residents’ income would go towards entertainment if they went out to dinner, grabbed coffee, and went to shows weekly. Aside from the average $1,769 monthly rent, this report estimates a dinner for one in Atlanta’s Old Fourth Ward is roughly $31. A cup of coffee each morning will run you about $5, so you will have to budget $25 per week for your weekday java.
This trendy area was only joined by the Wynwood area of Miami, which represents the southern region of the country. Williamsburg, Brooklyn ranked number one with a $170,000 annual salary needed.