Banks County, Georgia Housing Market Prices
Banks County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 67% below the Georgia median Cheaper than 75% of counties in Georgia$85,000
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Median rent 41% below the Georgia median$827
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Banks County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $85,000 | $256,986 | $248,835 |
| Price Trend (Annual %) | 101.1% | 8.9% | 7.5% |
| Median Gross Rent | $827 | $1,392 | $1,407 |
| Rent Trend (Annual %) | 2.6% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Banks County is about 67% lower than in Georgia. Rent is about 41% lower than the Georgia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Banks County, up about 101.1% and 2.6% a year respectively. Home prices are changing faster.
Median rent in Banks County rose about 16.0% between 2015 and 2024, from $713 to $827. Over the same span, rent in Georgia rose about 58.5%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Banks County.
Buying the median-priced home in Banks County costs roughly 8.6 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Banks County. The price-to-rent ratio in Georgia is about 15.4.
| Metric | Banks County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $85,000 | $256,986 | $248,835 |
| Median Household Income | $77,371 | $77,523 | $80,455 |
| Price-to-Income Ratio | 1.1 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Banks County rose about 750.7%, while median household income rose about 48.2% between 2009 and 2025 — 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 | Banks County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.2% | 58.9% | 58.5% |
| Rental Rate | 19.5% | 30.8% | 31.2% |
| Vacancy Rate | 8.3% | 10.3% | 10.2% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Banks County has a homeownership rate of 72.2%, higher than the Georgia average of 58.9%. Its housing vacancy rate is 8.3%, compared with 10.3% in Georgia.
Housing Stock
| Metric | Banks County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.81 people | 2.62 people | 2.53 people |
| Median Structure Built Year | 1990 | 1990 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Banks County was built around 1990. On average, 2.8 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Banks County, GA Housing Compared With Nearby Counties
Banks County, GA is the smallest of the 4 counties compared here, 19,270 residents against a local median of 84,777. Where Banks County, GA breaks from the counties next to it is median home price, sitting 76% below the local median of $359,259 at $85,000.
Median rent tells the same story from another angle: $827 against a local median of $1,126, 27% below it. The counties themselves sit within $112,817 of each other on median home price, a tighter band than the gap between any of them and Banks County, GA, which makes it a genuine outlier here rather than one end of a wide local spread. Banks County, GA has the 4th highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Banks County, GA | 19,270 | $85,000 #4/4 | $827 #4/4 | 78.7% #2/4 |
| Jackson County, GA | 84,777 | $255,208 | $1,126 | 79.3% |
| Habersham County, GA | 47,793 | $359,259 | $974 | 72.8% |
| Hall County, GA | 213,256 | $368,025 | $1,341 | 68.6% |
Frequently Asked Questions
Common questions about the housing market in Banks County, Georgia.
What is the median home price in Banks County, Georgia?
The median home price in Banks County, Georgia is $85,000, lower than the Georgia average of $256,986.
What is the average home price in Banks County, Georgia?
The typical home price in Banks County, Georgia, reported as the median sale price, is $85,000. 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 Banks County, Georgia?
The median gross rent in Banks County, Georgia is $827 per month, lower than the Georgia average of $1,392.
What was the median gross rent in Banks County in 2020?
In 2020, the median gross rent in Banks County, Georgia was $713 per month.
What is the price-to-rent ratio in Banks County, Georgia?
The price-to-rent ratio in Banks County, Georgia is about 8.6, meaning it would take roughly 8.6 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Banks County.
Are home prices or rent rising faster in Banks County, Georgia?
Both home prices and rent are rising in Banks County, up about 101.1% and 2.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Banks County, Georgia?
72.2% of households in Banks County, Georgia own their home, higher than the Georgia average of 58.9%.
What is the vacancy rate in Banks County, Georgia?
The housing vacancy rate in Banks County, Georgia is 8.3%, lower than the Georgia average of 10.3%.
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