Atlanta is the best version of itself when we can open the door to newcomers while ensuring that those who are already here don’t have it slammed in their faces. To ensure that our growth benefits all Atlantans, we need equitable development strategies that recognize our shared prosperity.
The Atlanta region is now the sixth largest in the United States, adding nearly 69,000 residents between 2022 and 2023. The population of the 21-county Atlanta region is projected to reach 7.9 million by 2050. The jobs, investment and development that drive the city’s growth and prosperity do not benefit all Atlantans equally. Racial and economic inequities persist. Atlanta has the highest income inequality in the nation and a racial wealth gap that far exceeds the national average at 12.5 to 1. According to the Atlanta Wealth Building Initiative, the wealth of white households in Atlanta is 46 times more than that of Black households.
Credit: Handout
Credit: Handout
The racial wealth gap is perpetuated across generations by the lack of access to asset ownership, such as homeownership, and exacerbated by Atlanta’s low economic mobility, which remains the second lowest in the country. According to the Annie E. Casey Foundation’s recently released “Changing the Odds” report, Black children in Atlanta whose parents’ earnings place them at the 25th percentile of income in the city have a mere 28% chance of reaching a higher-income group in adulthood.
Although median incomes for Black households increased by more than $6,000 in inflation-adjusted dollars between 2013 and 2021, the difference in median earnings between Black ($38,854) and white ($114,195) households is stark. Furthermore, housing costs have far outpaced those meager gains. With a median home price of $357,000, homeownership is out of reach for many Atlantans. Atlanta’s legacy homeowners are feeling the squeeze, too. As new residents move to the city, they place pressure on our inadequate housing supply, which increases costs for everyone. Demand for affordable housing is projected to grow to 82,502 units by 2027. Still, the city is losing 1,500 units annually due to expiring subsidies and redevelopment.
At the nonprofit Atlanta Land Trust, our mission is to deliver and steward permanently affordable housing to support inclusive, equitable communities near the Atlanta Beltline and other targeted areas in the city of Atlanta. By keeping housing permanently affordable, a community land trust helps reduce the displacement that can accompany gentrification resulting from public investment. ALT sells homes to low-income buyers for an affordable price while holding the land in trust. Homeowners enter into a long-term ground lease with ALT that includes resale restrictions, asking them to sell the home to another income-qualified buyer for an affordable price. The homeowner can build wealth from the investment while preserving the home’s affordability for generations of Atlantans.
As we make massive public infrastructure investments across metro Atlanta to accommodate this growth, we have to ensure that the residents whose tax dollars are fueling this investment can remain in their communities. We also must work to ensure these projects, such as the Atlanta Beltline, benefit all Atlantans by providing benefits like public transportation that improve economic mobility.
As one of ALT’s homeowners said, “I don’t think it is fair to force someone out to allow someone else in.” At ALT, we are working to ensure Atlanta remains an inclusive city that welcomes newcomers while protecting legacy residents. We envision a livable, equitable and economically viable city where historically marginalized populations and communities of color can access and benefit from opportunities and prosper.
Amanda Rhein is executive director of the Atlanta Land Trust.
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