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 | Dooly County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $31,875 | $238,631 | $242,182 |
| Price Trend (Annual %) | 13.4% | 9.0% | 8.2% |
| Median Gross Rent | $761 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dooly County is about 87% lower than in Georgia. Rent is about 42% 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 Dooly County, up about 13.4% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Dooly County rose about 52.8% between 2015 and 2023, from $498 to $761. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 0.6 yearly household incomes in Dooly County.
Buying the median-priced home in Dooly County costs roughly 3.5 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 Dooly County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Dooly County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $31,875 | $238,631 | $242,182 |
| Median Household Income | $56,995 | $74,683 | $78,145 |
| Price-to-Income Ratio | 0.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Dooly County fell about 35.0%, while median household income rose about 88.2% 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 | Dooly County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.5% | 58.4% | 58.2% |
| Rental Rate | 27.3% | 31.0% | 31.3% |
| Vacancy Rate | 18.3% | 10.6% | 10.6% |
| Median Tenure (years) | 19.0 | 14.0 | 15.0 |
| Median Year Moved In | 2007 | 2012 | 2011 |
Dooly County has a homeownership rate of 54.5%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 18.3%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Dooly County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1982 | 1989 | 1978 |
| Median Number of Rooms | 6.0 | 5.9 | 5.5 |
The typical housing unit in Dooly County was built around 1982. On average, 2.3 people live in a home with about 6.0 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Dooly County, Georgia.
What is the median home price in Dooly County, Georgia?
The median home price in Dooly County, Georgia is $31,875, lower than the Georgia average of $238,631.
What is the average home price in Dooly 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 Dooly County, Georgia?
The median gross rent in Dooly County, Georgia is $761 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Dooly County in 2020?
In 2020, the median gross rent in Dooly County, Georgia was $625 per month.
What is the price-to-rent ratio in Dooly County, Georgia?
The price-to-rent ratio in Dooly County, Georgia is about 3.5, meaning it would take roughly 3.5 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 Dooly County.
Are home prices or rent rising faster in Dooly County, Georgia?
Both home prices and rent are rising in Dooly County, up about 13.4% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Dooly County, Georgia?
54.5% of households in Dooly County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Dooly County, Georgia?
The housing vacancy rate in Dooly County, Georgia is 18.3%, higher than the Georgia average of 10.6%.