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 | Gwinnett County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $337,370 | $238,631 | $242,182 |
| Price Trend (Annual %) | 11.0% | 9.0% | 8.2% |
| Median Gross Rent | $1,713 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 6.8% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gwinnett County is about 41% higher than in Georgia. Rent is about 31% higher 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 Gwinnett County, up about 11.0% and 6.8% a year respectively. Home prices are changing faster.
Median rent in Gwinnett County rose about 64.2% between 2015 and 2023, from $1,043 to $1,713. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Gwinnett County.
Buying the median-priced home in Gwinnett County costs roughly 16.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Gwinnett County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Gwinnett County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $337,370 | $238,631 | $242,182 |
| Median Household Income | $86,070 | $74,683 | $78,145 |
| Price-to-Income Ratio | 3.9 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Gwinnett County rose about 113.8%, while median household income rose about 31.9% 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 | Gwinnett County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.1% | 58.4% | 58.2% |
| Rental Rate | 32.0% | 31.0% | 31.3% |
| Vacancy Rate | 3.9% | 10.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Gwinnett County has a homeownership rate of 64.1%, higher than the Georgia average of 58.4%. Its housing vacancy rate is 3.9%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Gwinnett County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.97 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1995 | 1989 | 1978 |
| Median Number of Rooms | 6.3 | 5.9 | 5.5 |
The typical housing unit in Gwinnett County was built around 1995. On average, 3.0 people live in a home with about 6.3 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Gwinnett County, Georgia.
What is the median home price in Gwinnett County, Georgia?
The median home price in Gwinnett County, Georgia is $337,370, higher than the Georgia average of $238,631.
What is the average home price in Gwinnett 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 Gwinnett County, Georgia?
The median gross rent in Gwinnett County, Georgia is $1,713 per month, higher than the Georgia average of $1,306.
What was the median gross rent in Gwinnett County in 2020?
In 2020, the median gross rent in Gwinnett County, Georgia was $1,331 per month.
What is the price-to-rent ratio in Gwinnett County, Georgia?
The price-to-rent ratio in Gwinnett County, Georgia is about 16.4, meaning it would take roughly 16.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Gwinnett County.
Are home prices or rent rising faster in Gwinnett County, Georgia?
Both home prices and rent are rising in Gwinnett County, up about 11.0% and 6.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Gwinnett County, Georgia?
64.1% of households in Gwinnett County, Georgia own their home, higher than the Georgia average of 58.4%.
What is the vacancy rate in Gwinnett County, Georgia?
The housing vacancy rate in Gwinnett County, Georgia is 3.9%, lower than the Georgia average of 10.6%.