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 | Lowndes County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $209,134 | $238,631 | $242,182 |
| Price Trend (Annual %) | 14.9% | 9.0% | 8.2% |
| Median Gross Rent | $1,002 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lowndes County is about 12% lower than in Georgia. Rent is about 23% 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 Lowndes County, up about 14.9% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Lowndes County rose about 32.3% between 2015 and 2023, from $758 to $1,002. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Lowndes County.
Buying the median-priced home in Lowndes County costs roughly 17.4 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 Lowndes County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Lowndes County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $209,134 | $238,631 | $242,182 |
| Median Household Income | $56,252 | $74,683 | $78,145 |
| Price-to-Income Ratio | 3.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lowndes County rose about 92.0%, while median household income rose about 43.8% 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 | Lowndes County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.1% | 58.4% | 58.2% |
| Rental Rate | 39.2% | 31.0% | 31.3% |
| Vacancy Rate | 10.7% | 10.6% | 10.6% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Lowndes County has a homeownership rate of 50.1%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 10.7%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Lowndes County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1989 | 1989 | 1978 |
| Median Number of Rooms | 5.6 | 5.9 | 5.5 |
The typical housing unit in Lowndes County was built around 1989. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lowndes County, Georgia.
What is the median home price in Lowndes County, Georgia?
The median home price in Lowndes County, Georgia is $209,134, lower than the Georgia average of $238,631.
What is the average home price in Lowndes 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 Lowndes County, Georgia?
The median gross rent in Lowndes County, Georgia is $1,002 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Lowndes County in 2020?
In 2020, the median gross rent in Lowndes County, Georgia was $813 per month.
What is the price-to-rent ratio in Lowndes County, Georgia?
The price-to-rent ratio in Lowndes County, Georgia is about 17.4, meaning it would take roughly 17.4 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 Lowndes County.
Are home prices or rent rising faster in Lowndes County, Georgia?
Both home prices and rent are rising in Lowndes County, up about 14.9% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lowndes County, Georgia?
50.1% of households in Lowndes County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Lowndes County, Georgia?
The housing vacancy rate in Lowndes County, Georgia is 10.7%, higher than the Georgia average of 10.6%.