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 | Dade County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $450,000 | $238,631 | $242,182 |
| Price Trend (Annual %) | 48.6% | 9.0% | 8.2% |
| Median Gross Rent | $842 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dade County is about 89% higher than in Georgia. Rent is about 36% 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 Dade County, up about 48.6% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Dade County rose about 24.5% between 2015 and 2023, from $677 to $842. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 7.6 yearly household incomes in Dade County.
Buying the median-priced home in Dade County costs roughly 44.5 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Dade County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Dade County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $450,000 | $238,631 | $242,182 |
| Median Household Income | $58,915 | $74,683 | $78,145 |
| Price-to-Income Ratio | 7.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Dade County rose about 369.0%, while median household income rose about 47.0% 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 | Dade County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.9% | 58.4% | 58.2% |
| Rental Rate | 18.4% | 31.0% | 31.3% |
| Vacancy Rate | 16.7% | 10.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Dade County has a homeownership rate of 64.9%, higher than the Georgia average of 58.4%. Its housing vacancy rate is 16.7%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Dade County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1984 | 1989 | 1978 |
| Median Number of Rooms | 5.5 | 5.9 | 5.5 |
The typical housing unit in Dade County was built around 1984. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Dade County, Georgia.
What is the median home price in Dade County, Georgia?
The median home price in Dade County, Georgia is $450,000, higher than the Georgia average of $238,631.
What is the average home price in Dade 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 Dade County, Georgia?
The median gross rent in Dade County, Georgia is $842 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Dade County in 2020?
In 2020, the median gross rent in Dade County, Georgia was $663 per month.
What is the price-to-rent ratio in Dade County, Georgia?
The price-to-rent ratio in Dade County, Georgia is about 44.5, meaning it would take roughly 44.5 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Dade County.
Are home prices or rent rising faster in Dade County, Georgia?
Both home prices and rent are rising in Dade County, up about 48.6% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Dade County, Georgia?
64.9% of households in Dade County, Georgia own their home, higher than the Georgia average of 58.4%.
What is the vacancy rate in Dade County, Georgia?
The housing vacancy rate in Dade County, Georgia is 16.7%, higher than the Georgia average of 10.6%.