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.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Bulloch County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $176,071 | $238,631 | $242,182 |
| Price Trend (Annual %) | 12.1% | 9.0% | 8.2% |
| Median Gross Rent | $968 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 3.6% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bulloch County is about 26% lower than in Georgia. Rent is about 26% lower 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 Bulloch County, up about 12.1% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Bulloch County rose about 25.3% between 2015 and 2023, from $772 to $968. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Bulloch County.
Buying the median-priced home in Bulloch County costs roughly 15.2 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 Bulloch County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Bulloch County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $176,071 | $238,631 | $242,182 |
| Median Household Income | $56,653 | $74,683 | $78,145 |
| Price-to-Income Ratio | 3.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bulloch County rose about 24.2%, while median household income rose about 63.2% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bulloch County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.0% | 58.4% | 58.2% |
| Rental Rate | 42.1% | 31.0% | 31.3% |
| Vacancy Rate | 9.9% | 10.6% | 10.6% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Bulloch County has a homeownership rate of 48.0%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 9.9%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Bulloch County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1994 | 1989 | 1978 |
| Median Number of Rooms | 5.6 | 5.9 | 5.5 |
The typical housing unit in Bulloch County was built around 1994. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bulloch County, Georgia.
What is the median home price in Bulloch County, Georgia?
The median home price in Bulloch County, Georgia is $176,071, lower than the Georgia average of $238,631.
What is the average home price in Bulloch County, 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 Bulloch County, Georgia?
The median gross rent in Bulloch County, Georgia is $968 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Bulloch County in 2020?
In 2020, the median gross rent in Bulloch County, Georgia was $815 per month.
What is the price-to-rent ratio in Bulloch County, Georgia?
The price-to-rent ratio in Bulloch County, Georgia is about 15.2, meaning it would take roughly 15.2 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 Bulloch County.
Are home prices or rent rising faster in Bulloch County, Georgia?
Both home prices and rent are rising in Bulloch County, up about 12.1% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bulloch County, Georgia?
48.0% of households in Bulloch County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Bulloch County, Georgia?
The housing vacancy rate in Bulloch County, Georgia is 9.9%, lower than the Georgia average of 10.6%.