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 | Colquitt County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $128,125 | $238,631 | $242,182 |
| Price Trend (Annual %) | 13.1% | 9.0% | 8.2% |
| Median Gross Rent | $779 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Colquitt County is about 46% lower than in Georgia. Rent is about 40% 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 Colquitt County, up about 13.1% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Colquitt County rose about 30.4% between 2015 and 2023, from $597 to $779. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Colquitt County.
Buying the median-priced home in Colquitt County costs roughly 13.7 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 Colquitt County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Colquitt County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $128,125 | $238,631 | $242,182 |
| Median Household Income | $49,735 | $74,683 | $78,145 |
| Price-to-Income Ratio | 2.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Colquitt County rose about 27.3%, while median household income rose about 55.5% 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 | Colquitt County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.3% | 58.4% | 58.2% |
| Rental Rate | 31.9% | 31.0% | 31.3% |
| Vacancy Rate | 12.9% | 10.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Colquitt County has a homeownership rate of 55.3%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 12.9%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Colquitt County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.67 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1984 | 1989 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Colquitt County was built around 1984. On average, 2.7 people live in a home with about 5.7 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Colquitt County, Georgia.
What is the median home price in Colquitt County, Georgia?
The median home price in Colquitt County, Georgia is $128,125, lower than the Georgia average of $238,631.
What is the average home price in Colquitt 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 Colquitt County, Georgia?
The median gross rent in Colquitt County, Georgia is $779 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Colquitt County in 2020?
In 2020, the median gross rent in Colquitt County, Georgia was $663 per month.
What is the price-to-rent ratio in Colquitt County, Georgia?
The price-to-rent ratio in Colquitt County, Georgia is about 13.7, meaning it would take roughly 13.7 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 Colquitt County.
Are home prices or rent rising faster in Colquitt County, Georgia?
Both home prices and rent are rising in Colquitt County, up about 13.1% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Colquitt County, Georgia?
55.3% of households in Colquitt County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Colquitt County, Georgia?
The housing vacancy rate in Colquitt County, Georgia is 12.9%, higher than the Georgia average of 10.6%.