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 | Chatham County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $277,805 | $238,631 | $242,182 |
| Price Trend (Annual %) | 9.6% | 9.0% | 8.2% |
| Median Gross Rent | $1,381 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 5.3% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chatham County is about 16% higher than in Georgia. Rent is about 6% 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 Chatham County, up about 9.6% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Chatham County rose about 45.4% between 2015 and 2023, from $950 to $1,381. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Chatham County.
Buying the median-priced home in Chatham County costs roughly 16.8 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 Chatham County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Chatham County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $277,805 | $238,631 | $242,182 |
| Median Household Income | $69,714 | $74,683 | $78,145 |
| Price-to-Income Ratio | 4.0 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Chatham County rose about 80.3%, while median household income rose about 57.0% 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 | Chatham County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.4% | 58.4% | 58.2% |
| Rental Rate | 38.3% | 31.0% | 31.3% |
| Vacancy Rate | 12.3% | 10.6% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Chatham County has a homeownership rate of 49.4%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 12.3%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Chatham County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1982 | 1989 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Chatham County was built around 1982. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Chatham County, Georgia.
What is the median home price in Chatham County, Georgia?
The median home price in Chatham County, Georgia is $277,805, higher than the Georgia average of $238,631.
What is the average home price in Chatham 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 Chatham County, Georgia?
The median gross rent in Chatham County, Georgia is $1,381 per month, higher than the Georgia average of $1,306.
What was the median gross rent in Chatham County in 2020?
In 2020, the median gross rent in Chatham County, Georgia was $1,115 per month.
What is the price-to-rent ratio in Chatham County, Georgia?
The price-to-rent ratio in Chatham County, Georgia is about 16.8, meaning it would take roughly 16.8 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 Chatham County.
Are home prices or rent rising faster in Chatham County, Georgia?
Both home prices and rent are rising in Chatham County, up about 9.6% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Chatham County, Georgia?
49.4% of households in Chatham County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Chatham County, Georgia?
The housing vacancy rate in Chatham County, Georgia is 12.3%, higher than the Georgia average of 10.6%.