Home prices have surged in the U.S. in recent years. Driven by rising demand and supply constraints during the pandemic, the median home sale price spiked by nearly 50% from the second quarter of 2020 to Q3 in 2022. While the sale price of a typical American home has fallen in recent months since, housing prices remain at historic highs.
Not only have home values soared, but borrowing costs for home buyers have also climbed. The average interest rate on a 30-year fixed mortgage has been above 6% since September 2022, a high not seen in nearly a decade and a half. In a market defined by high prices and high mortgage rates, homeownership has become prohibitively expensive for a large number of Americans.
Still, housing prices are also subject to a number of factors that can be isolated from broader, nationwide market trends — and location is one of them. Two homes that are virtually identical can vary in price by hundreds of thousands of dollars, depending on where they are. And for prospective homeowners on a budget, some Georgia cities are far more affordable than others.
According to five-year estimates from the U.S. Census Bureau’s 2022 American Community Survey, the typical home in Georgia is worth $245,900. But across the 47 cities, towns, and unincorporated communities in the state with populations of at least 25,000, median home values range from about $111,000 to more than $640,000.
In any local market, home prices are often a reflection of what residents can afford. In Georgia, many of the least expensive cities for homebuyers are not high-income areas. Of the 47 Georgia cities with available data from the ACS, 20 have a median home value that is less than the statewide median. In all but three of these places, the typical household earns less than the statewide median household income of $71,355. Similarly, most of Georgia’s more expensive housing markets have higher earning populations.
These are the cheapest and most expensive housing markets in Georgia.
47. Albany
Source: Roberto Galan / iStock Editorial via Getty Images
- Median home value: $111,200
- Homes worth over $1 million: 0.6%
- Homeownership rate: 40.2%
- Median household income: $43,724
- Total population: 68,926
46. Augusta-Richmond County
Source: Public Domain / Wikimedia Commons
- Median home value: $141,900
- Homes worth over $1 million: 0.9%
- Homeownership rate: 51.0%
- Median household income: $50,492
- Total population: 201,615
45. Statesboro
Source: Jacob Boomsma / iStock via Getty Images
- Median home value: $142,600
- Homes worth over $1 million: 0.0%
- Homeownership rate: 20.0%
- Median household income: $38,845
- Total population: 33,185
44. LaGrange
Source: Rivers Langley / Wikimedia Commons
- Median home value: $148,500
- Homes worth over $1 million: 1.5%
- Homeownership rate: 41.4%
- Median household income: $41,030
- Total population: 31,173
43. Valdosta
Source: sshepard / iStock Unreleased via Getty Images
- Median home value: $152,100
- Homes worth over $1 million: 0.3%
- Homeownership rate: 40.3%
- Median household income: $41,365
- Total population: 55,266
42. Macon-Bibb County
Source: SeanPavonePhoto / iStock via Getty Images
- Median home value: $155,200
- Homes worth over $1 million: 0.7%
- Homeownership rate: 52.6%
- Median household income: $48,897
- Total population: 156,554
41. Hinesville
Source: Michael Rivera / Wikimedia Commons
- Median home value: $156,000
- Homes worth over $1 million: 0.2%
- Homeownership rate: 44.7%
- Median household income: $54,447
- Total population: 34,732
40. Warner Robins
Source: bjones27 / iStock via Getty Images
- Median home value: $159,000
- Homes worth over $1 million: 0.7%
- Homeownership rate: 52.8%
- Median household income: $63,678
- Total population: 80,374
39. Columbus
Source: RobHainer / iStock via Getty Images
- Median home value: $168,400
- Homes worth over $1 million: 0.5%
- Homeownership rate: 49.5%
- Median household income: $54,561
- Total population: 204,572
38. Redan
- Median home value: $170,900
- Homes worth over $1 million: 0.0%
- Homeownership rate: 58.2%
- Median household income: $60,306
- Total population: 31,326
37. Dalton
Source: BOB WESTON / Getty Images
- Median home value: $182,500
- Homes worth over $1 million: 0.8%
- Homeownership rate: 53.4%
- Median household income: $57,163
- Total population: 34,358
36. Stonecrest
Source: formulanone / Flickr
- Median home value: $183,700
- Homes worth over $1 million: 0.3%
- Homeownership rate: 50.2%
- Median household income: $63,438
- Total population: 59,445
35. Rome
Source: Thomson200 / Wikimedia Commons
- Median home value: $192,700
- Homes worth over $1 million: 0.7%
- Homeownership rate: 50.9%
- Median household income: $48,512
- Total population: 37,621
34. Union City
Source: Vivian Lett / Wikimedia Commons
- Median home value: $201,400
- Homes worth over $1 million: 0.2%
- Homeownership rate: 41.6%
- Median household income: $46,696
- Total population: 26,869
33. Savannah
Source: SeanPavonePhoto / iStock via Getty Images
- Median home value: $203,300
- Homes worth over $1 million: 2.1%
- Homeownership rate: 45.9%
- Median household income: $54,748
- Total population: 147,583
32. Martinez
- Median home value: $211,200
- Homes worth over $1 million: 0.9%
- Homeownership rate: 72.6%
- Median household income: $80,130
- Total population: 33,773
31. East Point
Source: Meinzahn / iStock Editorial via Getty Images
- Median home value: $217,300
- Homes worth over $1 million: 0.0%
- Homeownership rate: 42.0%
- Median household income: $59,602
- Total population: 38,113
30. Stockbridge
Source: 2006 Getty Images / Getty Images Sport via Getty Images
- Median home value: $241,400
- Homes worth over $1 million: 1.3%
- Homeownership rate: 49.3%
- Median household income: $72,175
- Total population: 28,858
29. South Fulton
Source: Public Domain / Wikimedia Commons
- Median home value: $242,200
- Homes worth over $1 million: 0.3%
- Homeownership rate: 69.2%
- Median household income: $77,488
- Total population: 107,865
28. Athens-Clarke County
Source: JENNIFER E. WOLF / iStock Editorial via Getty Images
- Median home value: $242,300
- Homes worth over $1 million: 1.5%
- Homeownership rate: 40.6%
- Median household income: $47,798
- Total population: 126,672
27. McDonough
Source: BOB WESTON / iStock via Getty Images
- Median home value: $246,800
- Homes worth over $1 million: 0.2%
- Homeownership rate: 49.9%
- Median household income: $77,804
- Total population: 29,134
26. Carrollton
Source: EyeMark / iStock Editorial via Getty Images
- Median home value: $259,700
- Homes worth over $1 million: 1.4%
- Homeownership rate: 38.3%
- Median household income: $46,722
- Total population: 26,622
25. Kennesaw
Source: kenlund / Flickr
- Median home value: $262,000
- Homes worth over $1 million: 0.2%
- Homeownership rate: 65.5%
- Median household income: $81,467
- Total population: 33,360
24. Pooler
- Median home value: $269,800
- Homes worth over $1 million: 0.7%
- Homeownership rate: 60.5%
- Median household income: $89,812
- Total population: 26,264
23. Douglasville
Source: Kåre Thor Olsen / Wikimedia Commons
- Median home value: $274,500
- Homes worth over $1 million: 0.0%
- Homeownership rate: 49.2%
- Median household income: $72,753
- Total population: 35,252
22. Mableton
- Median home value: $278,300
- Homes worth over $1 million: 0.2%
- Homeownership rate: 74.5%
- Median household income: $79,069
- Total population: 41,647
21. Newnan
Source: LCBallard / iStock Editorial via Getty Images
- Median home value: $284,600
- Homes worth over $1 million: 1.0%
- Homeownership rate: 56.5%
- Median household income: $74,606
- Total population: 42,689
20. Lawrenceville
Source: A Softer Answer / Wikimedia Commons
- Median home value: $286,400
- Homes worth over $1 million: 0.0%
- Homeownership rate: 47.8%
- Median household income: $55,608
- Total population: 30,465
19. Gainesville
Source: BOB WESTON / iStock via Getty Images
- Median home value: $296,400
- Homes worth over $1 million: 3.8%
- Homeownership rate: 43.4%
- Median household income: $64,163
- Total population: 42,780
18. Evans
Source: Jacob Boomsma / iStock via Getty Images
- Median home value: $314,100
- Homes worth over $1 million: 1.3%
- Homeownership rate: 89.0%
- Median household income: $125,325
- Total population: 37,456
17. Canton
Source: 2022 Getty Images / Getty Images News via Getty Images
- Median home value: $324,000
- Homes worth over $1 million: 0.7%
- Homeownership rate: 55.9%
- Median household income: $75,414
- Total population: 33,499
16. Tucker
- Median home value: $331,100
- Homes worth over $1 million: 0.4%
- Homeownership rate: 64.5%
- Median household income: $80,311
- Total population: 36,994
15. Duluth
Source: Erik S. Lesser / Getty Images
- Median home value: $334,800
- Homes worth over $1 million: 1.1%
- Homeownership rate: 55.3%
- Median household income: $88,915
- Total population: 31,742
14. Woodstock
Source: 2020 Getty Images / Getty Images News via Getty Images
- Median home value: $359,800
- Homes worth over $1 million: 1.0%
- Homeownership rate: 65.2%
- Median household income: $100,913
- Total population: 35,171
13. Marietta
Source: vicm / iStock Unreleased via Getty Images
- Median home value: $376,400
- Homes worth over $1 million: 2.9%
- Homeownership rate: 46.2%
- Median household income: $67,589
- Total population: 61,387
12. Smyrna
Source: Public Domain / Wikimedia Commons
- Median home value: $380,100
- Homes worth over $1 million: 0.8%
- Homeownership rate: 57.2%
- Median household income: $92,258
- Total population: 55,863
11. Atlanta
Source: nrbelex / Flickr
- Median home value: $395,600
- Homes worth over $1 million: 12.2%
- Homeownership rate: 45.7%
- Median household income: $77,655
- Total population: 494,838
10. Chamblee
Source: Public Domain / Wikimedia Commons
- Median home value: $395,900
- Homes worth over $1 million: 4.1%
- Homeownership rate: 39.8%
- Median household income: $76,682
- Total population: 29,980
9. Peachtree City
Source: PTCdude / Wikimedia Commons
- Median home value: $435,300
- Homes worth over $1 million: 2.5%
- Homeownership rate: 74.5%
- Median household income: $111,850
- Total population: 38,414
8. Peachtree Corners
Source: Public Domain / Wikimedia Commons
- Median home value: $444,000
- Homes worth over $1 million: 1.8%
- Homeownership rate: 50.7%
- Median household income: $74,716
- Total population: 42,147
7. Roswell
Source: TravisPhotoWorks / Getty Images
- Median home value: $479,400
- Homes worth over $1 million: 3.6%
- Homeownership rate: 70.8%
- Median household income: $122,924
- Total population: 92,770
6. Johns Creek
Source: Mike Ehrmann / Getty Images
- Median home value: $525,100
- Homes worth over $1 million: 4.2%
- Homeownership rate: 78.8%
- Median household income: $153,882
- Total population: 82,230
5. Dunwoody
Source: sebatl / iStock via Getty Images
- Median home value: $545,200
- Homes worth over $1 million: 2.8%
- Homeownership rate: 55.7%
- Median household income: $106,710
- Total population: 51,458
4. Sandy Springs
Source: pasa / Flickr
- Median home value: $556,300
- Homes worth over $1 million: 15.4%
- Homeownership rate: 50.5%
- Median household income: $93,303
- Total population: 107,221
3. Alpharetta
Source: rodclementphotography / iStock via Getty Images
- Median home value: $562,000
- Homes worth over $1 million: 5.9%
- Homeownership rate: 67.2%
- Median household income: $141,402
- Total population: 65,884
2. Brookhaven
Source: Jessica McGowan / Getty Images News via Getty Images
- Median home value: $626,800
- Homes worth over $1 million: 13.2%
- Homeownership rate: 54.6%
- Median household income: $114,570
- Total population: 56,848
1. Milton
Source: Thomson200 / Wikimedia Commons
- Median home value: $642,500
- Homes worth over $1 million: 17.0%
- Homeownership rate: 74.0%
- Median household income: $142,845
- Total population: 41,029
| Rank | Places in Georgia with at least 25,000 residents | Median home value ($) | Homeownership rate (%) | Median household income ($) | Total Population |
|---|---|---|---|---|---|
| 1 | Milton | 642,500 | 74.0 | 142,845 | 41,029 |
| 2 | Brookhaven | 626,800 | 54.6 | 114,570 | 56,848 |
| 3 | Alpharetta | 562,000 | 67.2 | 141,402 | 65,884 |
| 4 | Sandy Springs | 556,300 | 50.5 | 93,303 | 107,221 |
| 5 | Dunwoody | 545,200 | 55.7 | 106,710 | 51,458 |
| 6 | Johns Creek | 525,100 | 78.8 | 153,882 | 82,230 |
| 7 | Roswell | 479,400 | 70.8 | 122,924 | 92,770 |
| 8 | Peachtree Corners | 444,000 | 50.7 | 74,716 | 42,147 |
| 9 | Peachtree City | 435,300 | 74.5 | 111,850 | 38,414 |
| 10 | Chamblee | 395,900 | 39.8 | 76,682 | 29,980 |
| 11 | Atlanta | 395,600 | 45.7 | 77,655 | 494,838 |
| 12 | Smyrna | 380,100 | 57.2 | 92,258 | 55,863 |
| 13 | Marietta | 376,400 | 46.2 | 67,589 | 61,387 |
| 14 | Woodstock | 359,800 | 65.2 | 100,913 | 35,171 |
| 15 | Duluth | 334,800 | 55.3 | 88,915 | 31,742 |
| 16 | Tucker | 331,100 | 64.5 | 80,311 | 36,994 |
| 17 | Canton | 324,000 | 55.9 | 75,414 | 33,499 |
| 18 | Evans | 314,100 | 89.0 | 125,325 | 37,456 |
| 19 | Gainesville | 296,400 | 43.4 | 64,163 | 42,780 |
| 20 | Lawrenceville | 286,400 | 47.8 | 55,608 | 30,465 |
| 21 | Newnan | 284,600 | 56.5 | 74,606 | 42,689 |
| 22 | Mableton | 278,300 | 74.5 | 79,069 | 41,647 |
| 23 | Douglasville | 274,500 | 49.2 | 72,753 | 35,252 |
| 24 | Pooler | 269,800 | 60.5 | 89,812 | 26,264 |
| 25 | Kennesaw | 262,000 | 65.5 | 81,467 | 33,360 |
| 26 | Carrollton | 259,700 | 38.3 | 46,722 | 26,622 |
| 27 | McDonough | 246,800 | 49.9 | 77,804 | 29,134 |
| 28 | Athens-Clarke County | 242,300 | 40.6 | 47,798 | 126,672 |
| 29 | South Fulton | 242,200 | 69.2 | 77,488 | 107,865 |
| 30 | Stockbridge | 241,400 | 49.3 | 72,175 | 28,858 |
| 31 | East Point | 217,300 | 42.0 | 59,602 | 38,113 |
| 32 | Martinez | 211,200 | 72.6 | 80,130 | 33,773 |
| 33 | Savannah | 203,300 | 45.9 | 54,748 | 147,583 |
| 34 | Union City | 201,400 | 41.6 | 46,696 | 26,869 |
| 35 | Rome | 192,700 | 50.9 | 48,512 | 37,621 |
| 36 | Stonecrest | 183,700 | 50.2 | 63,438 | 59,445 |
| 37 | Dalton | 182,500 | 53.4 | 57,163 | 34,358 |
| 38 | Redan | 170,900 | 58.2 | 60,306 | 31,326 |
| 39 | Columbus | 168,400 | 49.5 | 54,561 | 204,572 |
| 40 | Warner Robins | 159,000 | 52.8 | 63,678 | 80,374 |
| 41 | Hinesville | 156,000 | 44.7 | 54,447 | 34,732 |
| 42 | Macon-Bibb County | 155,200 | 52.6 | 48,897 | 156,554 |
| 43 | Valdosta | 152,100 | 40.3 | 41,365 | 55,266 |
| 44 | LaGrange | 148,500 | 41.4 | 41,030 | 31,173 |
| 45 | Statesboro | 142,600 | 20.0 | 38,845 | 33,185 |
| 46 | Augusta-Richmond County | 141,900 | 51.0 | 50,492 | 201,615 |
| 47 | Albany | 111,200 | 40.2 | 43,724 | 68,926 |
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