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Sunroom accelerates growth with expansion to Georgia and Arizona

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After refining our self-service leasing model in Austin, Texas, and expanding throughout Texas, we’re excited to share that we have expanded our full-service leasing solution to markets in Atlanta, Georgia and Phoenix, Arizona. 

“There are a lot of moving pieces to launch in a new area and we are able to get faster each time we enter a new market,” shared Roger Chavez, Support Operations Manager at Sunroom. “This is exciting for us because we are committed to expanding into markets that best align with the needs of our partners so we can continue to support their growth.”

Atlanta is an extremely attractive market for investors, with over half of all households occupied by renters according to RentCafe. The population is booming with plenty of new residents moving every day. 

Quick Stats on Atlanta

  • The Atlanta metropolitan area had a population of 5.95M in 2020. The population increased 1.44% between 2019 and 2020, from 5.86M to 5.95M. 
  • Median household income increased 4.21% between 2019 and 2020, from $68,316 to $71,193.
  • The unemployment rate in Atlanta in July 2022 was 2.8.
  • The metro Atlanta population is expected to add 2.9M by 2050, reaching 8.6M by 2050. 
  • The median monthly rent in the Atlanta metro area is $1,205, 9.9% higher than the national average, according to the US Census Bureau American Community Survey.

Phoenix, Arizona is also a hot market for SFR investors, with almost half of all households occupied by renters. With population growth nearly outpacing housing supply, investors and builders are focused on meeting the demand for single family rental homes. 

Quick Stats on Phoenix

  • The population of Phoenix-Mesa-Scottsdale grew 2.07% between 2019 and 2020, an increase from 4.76M to 4.86M according to Data USA.
  • Median household income grew 4.99%, an increase from $63,883 to $67,068.
  • The unemployment rate in Phoenix in July 2022 was 3.4.
  • The population of Greater Phoenix is projected to reach 5.64 million by 2029 according to the Greater Phoenix Economic Council.
  • Rents have jumped 35% year-over-year, hitting $2,160 median rent across the U.S. in February, according to home rental marketplace Dwellsy. 
  • John Burns Real Estate Consulting reported new lease growth in Phoenix was 12% in 2021.

Before 2022 is over, Nova by Sunroom, our full-service leasing solution, will be available in additional markets in North Carolina, Florida, Tennessee, and Ohio. SunScreen, Sunroom’s tenant screening tool, is already available nationwide. To see all of the markets we currently serve, visit this link.