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.
Housing Market Overview
| Metric | East Point | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $178,827 | $238,631 | $242,182 |
| Price Trend (Annual %) | 6.5% | 9.0% | 8.2% |
| Median Gross Rent | $1,302 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 5.2% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in East Point is about 25% lower than in Georgia. Rent follows a similar pattern, running close to 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 East Point, up about 6.5% and 5.2% a year respectively. Home prices are changing faster.
Median rent in East Point rose about 44.9% between 2015 and 2023, from $898 to $1,302. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in East Point.
Buying the median-priced home in East Point costs roughly 11.4 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 East Point. The price-to-rent ratio in Georgia is about 15.2.
| Metric | East Point | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $178,827 | $238,631 | $242,182 |
| Median Household Income | $58,837 | $74,683 | $78,145 |
| Price-to-Income Ratio | 3.0 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in East Point rose about 141.1%, while median household income rose about 46.9% 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 | East Point | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 37.1% | 58.4% | 58.2% |
| Rental Rate | 50.4% | 31.0% | 31.3% |
| Vacancy Rate | 12.5% | 10.6% | 10.6% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
East Point has a homeownership rate of 37.1%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 12.5%, compared with 10.6% in Georgia.
Housing Stock
| Metric | East Point | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1971 | 1989 | 1978 |
| Median Number of Rooms | 5.1 | 5.9 | 5.5 |
The typical housing unit in East Point was built around 1971. On average, 2.3 people live in a home with about 5.1 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in East Point, Georgia.
What is the median home price in East Point, Georgia?
The median home price in East Point, Georgia is $178,827, lower than the Georgia average of $238,631.
What is the average home price in East Point, 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 East Point, Georgia?
The median gross rent in East Point, Georgia is $1,302 per month, about the same as the Georgia average.
What was the median gross rent in East Point in 2020?
In 2020, the median gross rent in East Point, Georgia was $1,048 per month.
What is the price-to-rent ratio in East Point, Georgia?
The price-to-rent ratio in East Point, Georgia is about 11.4, meaning it would take roughly 11.4 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 East Point.
Are home prices or rent rising faster in East Point, Georgia?
Both home prices and rent are rising in East Point, up about 6.5% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in East Point, Georgia?
37.1% of households in East Point, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in East Point, Georgia?
The housing vacancy rate in East Point, Georgia is 12.5%, higher than the Georgia average of 10.6%.