Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Atlanta | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $377,477 | $238,631 | $242,182 |
| Price Trend (Annual %) | 11.5% | 9.0% | 8.2% |
| Median Gross Rent | $1,621 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 7.1% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Atlanta is about 58% higher than in Georgia. Rent is about 24% higher than the Georgia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Atlanta, up about 11.5% and 7.1% a year respectively. Home prices are changing faster.
Median rent in Atlanta rose about 65.9% between 2015 and 2023, from $977 to $1,621. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Atlanta.
Buying the median-priced home in Atlanta costs roughly 19.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Atlanta. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Atlanta | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $377,477 | $238,631 | $242,182 |
| Median Household Income | $81,760 | $74,683 | $78,145 |
| Price-to-Income Ratio | 4.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Atlanta rose about 119.5%, while median household income rose about 62.1% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Atlanta | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.1% | 58.4% | 58.2% |
| Rental Rate | 48.3% | 31.0% | 31.3% |
| Vacancy Rate | 10.7% | 10.6% | 10.6% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Atlanta has a homeownership rate of 41.1%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 10.7%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Atlanta | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.00 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1982 | 1989 | 1978 |
| Median Number of Rooms | 4.5 | 5.9 | 5.5 |
The typical housing unit in Atlanta was built around 1982. On average, 2.0 people live in a home with about 4.5 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Atlanta, Georgia.
What is the median home price in Atlanta, Georgia?
The median home price in Atlanta, Georgia is $377,477, higher than the Georgia average of $238,631.
What is the average home price in Atlanta, Georgia?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Atlanta, Georgia?
The median gross rent in Atlanta, Georgia is $1,621 per month, higher than the Georgia average of $1,306.
What was the median gross rent in Atlanta in 2020?
In 2020, the median gross rent in Atlanta, Georgia was $1,227 per month.
What is the price-to-rent ratio in Atlanta, Georgia?
The price-to-rent ratio in Atlanta, Georgia is about 19.4, meaning it would take roughly 19.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Atlanta.
Are home prices or rent rising faster in Atlanta, Georgia?
Both home prices and rent are rising in Atlanta, up about 11.5% and 7.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Atlanta, Georgia?
41.1% of households in Atlanta, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Atlanta, Georgia?
The housing vacancy rate in Atlanta, Georgia is 10.7%, about the same as the Georgia average.