You and me are not really talking about the same topic

No offense, Atlanta will never become DC for many many reasons, zoning is just one big distinguisher. DC will probably never become NYC for many many reasons. Nonetheless, if you operate well, i.e., if you go the INCOME route, you may make a lot more money in Atlanta than you will be in DC simply because you can buy low price, enjoy great cash flow and leverage more, therefore, huge income potential. DC/Boston/NY/NJ/CA don't enjoy such advantage. However, if you go the capital gain route, i.e., you can afford to buy only one or two houses, mostly like most middle class families, DC/Boston/NJ/NY/CA may have a higher change for you to gain capital. But with current lofty prices, playing income game in these high price states is very hard.