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 | Lumpkin County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $190,217 | $238,631 | $242,182 |
| Price Trend (Annual %) | 36.4% | 9.0% | 8.2% |
| Median Gross Rent | $1,089 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lumpkin County is about 20% lower than in Georgia. Rent is about 17% 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 Lumpkin County, up about 36.4% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Lumpkin County rose about 29.7% between 2015 and 2023, from $840 to $1,089. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Lumpkin County.
Buying the median-priced home in Lumpkin County costs roughly 14.6 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 Lumpkin County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Lumpkin County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $190,217 | $238,631 | $242,182 |
| Median Household Income | $72,912 | $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 Lumpkin County rose about 334.8%, while median household income rose about 74.9% 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 | Lumpkin County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.9% | 58.4% | 58.2% |
| Rental Rate | 18.5% | 31.0% | 31.3% |
| Vacancy Rate | 14.6% | 10.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Lumpkin County has a homeownership rate of 66.9%, higher than the Georgia average of 58.4%. Its housing vacancy rate is 14.6%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Lumpkin County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.75 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1996 | 1989 | 1978 |
| Median Number of Rooms | 5.9 | 5.9 | 5.5 |
The typical housing unit in Lumpkin County was built around 1996. On average, 2.7 people live in a home with about 5.9 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lumpkin County, Georgia.
What is the median home price in Lumpkin County, Georgia?
The median home price in Lumpkin County, Georgia is $190,217, lower than the Georgia average of $238,631.
What is the average home price in Lumpkin 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 Lumpkin County, Georgia?
The median gross rent in Lumpkin County, Georgia is $1,089 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Lumpkin County in 2020?
In 2020, the median gross rent in Lumpkin County, Georgia was $877 per month.
What is the price-to-rent ratio in Lumpkin County, Georgia?
The price-to-rent ratio in Lumpkin County, Georgia is about 14.6, meaning it would take roughly 14.6 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 Lumpkin County.
Are home prices or rent rising faster in Lumpkin County, Georgia?
Both home prices and rent are rising in Lumpkin County, up about 36.4% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lumpkin County, Georgia?
66.9% of households in Lumpkin County, Georgia own their home, higher than the Georgia average of 58.4%.
What is the vacancy rate in Lumpkin County, Georgia?
The housing vacancy rate in Lumpkin County, Georgia is 14.6%, higher than the Georgia average of 10.6%.