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 | Floyd County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,871 | $238,631 | $242,182 |
| Price Trend (Annual %) | 10.2% | 9.0% | 8.2% |
| Median Gross Rent | $970 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 5.1% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Floyd County is about 54% lower than in Georgia. Rent is about 26% 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 Floyd County, up about 10.2% and 5.1% a year respectively. Home prices are changing faster.
Median rent in Floyd County rose about 43.9% between 2015 and 2023, from $674 to $970. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Floyd County.
Buying the median-priced home in Floyd County costs roughly 9.4 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 Floyd County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Floyd County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,871 | $238,631 | $242,182 |
| Median Household Income | $62,255 | $74,683 | $78,145 |
| Price-to-Income Ratio | 1.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Floyd County rose about 35.8%, while median household income rose about 49.1% 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 | Floyd County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.9% | 58.4% | 58.2% |
| Rental Rate | 34.1% | 31.0% | 31.3% |
| Vacancy Rate | 10.0% | 10.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Floyd County has a homeownership rate of 55.9%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 10.0%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Floyd County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1977 | 1989 | 1978 |
| Median Number of Rooms | 5.6 | 5.9 | 5.5 |
The typical housing unit in Floyd County was built around 1977. On average, 2.6 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Floyd County, Georgia.
What is the median home price in Floyd County, Georgia?
The median home price in Floyd County, Georgia is $108,871, lower than the Georgia average of $238,631.
What is the average home price in Floyd 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 Floyd County, Georgia?
The median gross rent in Floyd County, Georgia is $970 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Floyd County in 2020?
In 2020, the median gross rent in Floyd County, Georgia was $786 per month.
What is the price-to-rent ratio in Floyd County, Georgia?
The price-to-rent ratio in Floyd County, Georgia is about 9.4, meaning it would take roughly 9.4 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 Floyd County.
Are home prices or rent rising faster in Floyd County, Georgia?
Both home prices and rent are rising in Floyd County, up about 10.2% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Floyd County, Georgia?
55.9% of households in Floyd County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Floyd County, Georgia?
The housing vacancy rate in Floyd County, Georgia is 10.0%, lower than the Georgia average of 10.6%.