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 | Fannin County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $334,193 | $238,631 | $242,182 |
| Price Trend (Annual %) | 6.5% | 9.0% | 8.2% |
| Median Gross Rent | $876 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 2.3% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fannin County is about 40% higher than in Georgia. Rent is about 33% 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 Fannin County, up about 6.5% and 2.3% a year respectively. Home prices are changing faster.
Median rent in Fannin County rose about 32.0% between 2015 and 2023, from $663 to $876. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 5.7 yearly household incomes in Fannin County.
Buying the median-priced home in Fannin County costs roughly 31.8 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 Fannin County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Fannin County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $334,193 | $238,631 | $242,182 |
| Median Household Income | $58,798 | $74,683 | $78,145 |
| Price-to-Income Ratio | 5.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Fannin County rose about 48.1%, while median household income rose about 59.5% 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 | Fannin County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.0% | 58.4% | 58.2% |
| Rental Rate | 13.7% | 31.0% | 31.3% |
| Vacancy Rate | 37.3% | 10.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Fannin County has a homeownership rate of 49.0%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 37.3%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Fannin County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.24 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1992 | 1989 | 1978 |
| Median Number of Rooms | 5.4 | 5.9 | 5.5 |
The typical housing unit in Fannin County was built around 1992. On average, 2.2 people live in a home with about 5.4 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fannin County, Georgia.
What is the median home price in Fannin County, Georgia?
The median home price in Fannin County, Georgia is $334,193, higher than the Georgia average of $238,631.
What is the average home price in Fannin 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 Fannin County, Georgia?
The median gross rent in Fannin County, Georgia is $876 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Fannin County in 2020?
In 2020, the median gross rent in Fannin County, Georgia was $679 per month.
What is the price-to-rent ratio in Fannin County, Georgia?
The price-to-rent ratio in Fannin County, Georgia is about 31.8, meaning it would take roughly 31.8 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 Fannin County.
Are home prices or rent rising faster in Fannin County, Georgia?
Both home prices and rent are rising in Fannin County, up about 6.5% and 2.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fannin County, Georgia?
49.0% of households in Fannin County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Fannin County, Georgia?
The housing vacancy rate in Fannin County, Georgia is 37.3%, higher than the Georgia average of 10.6%.