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 | Clarke County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $242,241 | $238,631 | $242,182 |
| Price Trend (Annual %) | 9.5% | 9.0% | 8.2% |
| Median Gross Rent | $1,161 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 5.6% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Clarke County is about 2% higher than in Georgia. Rent is about 11% 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 Clarke County, up about 9.5% and 5.6% a year respectively. Home prices are changing faster.
Median rent in Clarke County rose about 47.2% between 2015 and 2023, from $789 to $1,161. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Clarke County.
Buying the median-priced home in Clarke County costs roughly 17.4 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 Clarke County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Clarke County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $242,241 | $238,631 | $242,182 |
| Median Household Income | $52,815 | $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 Clarke County rose about 89.8%, while median household income rose about 58.7% 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 | Clarke County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 39.2% | 58.4% | 58.2% |
| Rental Rate | 55.9% | 31.0% | 31.3% |
| Vacancy Rate | 4.8% | 10.6% | 10.6% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Clarke County has a homeownership rate of 39.2%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 4.8%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Clarke County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.19 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1985 | 1989 | 1978 |
| Median Number of Rooms | 5.2 | 5.9 | 5.5 |
The typical housing unit in Clarke County was built around 1985. On average, 2.2 people live in a home with about 5.2 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Clarke County, Georgia.
What is the median home price in Clarke County, Georgia?
The median home price in Clarke County, Georgia is $242,241, higher than the Georgia average of $238,631.
What is the average home price in Clarke 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 Clarke County, Georgia?
The median gross rent in Clarke County, Georgia is $1,161 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Clarke County in 2020?
In 2020, the median gross rent in Clarke County, Georgia was $871 per month.
What is the price-to-rent ratio in Clarke County, Georgia?
The price-to-rent ratio in Clarke County, Georgia is about 17.4, meaning it would take roughly 17.4 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 Clarke County.
Are home prices or rent rising faster in Clarke County, Georgia?
Both home prices and rent are rising in Clarke County, up about 9.5% and 5.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Clarke County, Georgia?
39.2% of households in Clarke County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Clarke County, Georgia?
The housing vacancy rate in Clarke County, Georgia is 4.8%, lower than the Georgia average of 10.6%.