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 | Laurens County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $129,545 | $238,631 | $242,182 |
| Price Trend (Annual %) | 19.0% | 9.0% | 8.2% |
| Median Gross Rent | $769 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 4.3% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Laurens County is about 46% lower than in Georgia. Rent is about 41% 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 Laurens County, up about 19.0% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Laurens County rose about 29.7% between 2015 and 2023, from $593 to $769. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Laurens County.
Buying the median-priced home in Laurens County costs roughly 14.0 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 Laurens County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Laurens County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $129,545 | $238,631 | $242,182 |
| Median Household Income | $49,661 | $74,683 | $78,145 |
| Price-to-Income Ratio | 2.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Laurens County rose about 25.9%, while median household income rose about 30.5% 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 | Laurens County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.8% | 58.4% | 58.2% |
| Rental Rate | 28.6% | 31.0% | 31.3% |
| Vacancy Rate | 17.6% | 10.6% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Laurens County has a homeownership rate of 53.8%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 17.6%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Laurens County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.69 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1983 | 1989 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Laurens County was built around 1983. On average, 2.7 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Laurens County, Georgia.
What is the median home price in Laurens County, Georgia?
The median home price in Laurens County, Georgia is $129,545, lower than the Georgia average of $238,631.
What is the average home price in Laurens 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 Laurens County, Georgia?
The median gross rent in Laurens County, Georgia is $769 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Laurens County in 2020?
In 2020, the median gross rent in Laurens County, Georgia was $622 per month.
What is the price-to-rent ratio in Laurens County, Georgia?
The price-to-rent ratio in Laurens County, Georgia is about 14.0, meaning it would take roughly 14.0 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 Laurens County.
Are home prices or rent rising faster in Laurens County, Georgia?
Both home prices and rent are rising in Laurens County, up about 19.0% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Laurens County, Georgia?
53.8% of households in Laurens County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Laurens County, Georgia?
The housing vacancy rate in Laurens County, Georgia is 17.6%, higher than the Georgia average of 10.6%.