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 | Lee County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $213,874 | $238,631 | $242,182 |
| Price Trend (Annual %) | 7.1% | 9.0% | 8.2% |
| Median Gross Rent | $1,147 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lee County is about 10% lower than in Georgia. Rent is about 12% 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 Lee County, up about 7.1% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Lee County rose about 23.2% between 2015 and 2023, from $931 to $1,147. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Lee County.
Buying the median-priced home in Lee County costs roughly 15.5 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 Lee County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Lee County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $213,874 | $238,631 | $242,182 |
| Median Household Income | $87,873 | $74,683 | $78,145 |
| Price-to-Income Ratio | 2.4 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lee County rose about 212.8%, while median household income rose about 45.4% 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 | Lee County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.4% | 58.4% | 58.2% |
| Rental Rate | 24.6% | 31.0% | 31.3% |
| Vacancy Rate | 7.0% | 10.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Lee County has a homeownership rate of 68.4%, higher than the Georgia average of 58.4%. Its housing vacancy rate is 7.0%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Lee County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.70 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1992 | 1989 | 1978 |
| Median Number of Rooms | 6.3 | 5.9 | 5.5 |
The typical housing unit in Lee County was built around 1992. On average, 2.7 people live in a home with about 6.3 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lee County, Georgia.
What is the median home price in Lee County, Georgia?
The median home price in Lee County, Georgia is $213,874, lower than the Georgia average of $238,631.
What is the average home price in Lee 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 Lee County, Georgia?
The median gross rent in Lee County, Georgia is $1,147 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Lee County in 2020?
In 2020, the median gross rent in Lee County, Georgia was $915 per month.
What is the price-to-rent ratio in Lee County, Georgia?
The price-to-rent ratio in Lee County, Georgia is about 15.5, meaning it would take roughly 15.5 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 Lee County.
Are home prices or rent rising faster in Lee County, Georgia?
Both home prices and rent are rising in Lee County, up about 7.1% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lee County, Georgia?
68.4% of households in Lee County, Georgia own their home, higher than the Georgia average of 58.4%.
What is the vacancy rate in Lee County, Georgia?
The housing vacancy rate in Lee County, Georgia is 7.0%, lower than the Georgia average of 10.6%.