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.
Housing Market Overview
| Metric | Macon-Bibb County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $101,754 | $238,631 | $242,182 |
| Price Trend (Annual %) | 5.3% | 9.0% | 8.2% |
| Median Gross Rent | $1,026 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Macon-Bibb County is about 57% lower than in Georgia. Rent is about 21% 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 Macon-Bibb County, up about 5.3% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Macon-Bibb County rose about 38.1% between 2015 and 2023, from $742 to $1,026. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Macon-Bibb County.
Buying the median-priced home in Macon-Bibb County costs roughly 8.3 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 Macon-Bibb County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Macon-Bibb County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $101,754 | $238,631 | $242,182 |
| Median Household Income | $50,883 | $74,683 | $78,145 |
| Price-to-Income Ratio | 2.0 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Macon-Bibb County rose about 33.3%, while median household income rose about 33.4% between 2009 and 2023 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Macon-Bibb County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.8% | 58.4% | 58.2% |
| Rental Rate | 40.3% | 31.0% | 31.3% |
| Vacancy Rate | 17.0% | 10.6% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Macon-Bibb County has a homeownership rate of 42.8%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 17.0%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Macon-Bibb County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.52 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1977 | 1989 | 1978 |
| Median Number of Rooms | 5.5 | 5.9 | 5.5 |
The typical housing unit in Macon-Bibb County was built around 1977. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Macon-Bibb County, Georgia.
What is the median home price in Macon-Bibb County, Georgia?
The median home price in Macon-Bibb County, Georgia is $101,754, lower than the Georgia average of $238,631.
What is the average home price in Macon-Bibb 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 Macon-Bibb County, Georgia?
The median gross rent in Macon-Bibb County, Georgia is $1,026 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Macon-Bibb County in 2020?
In 2020, the median gross rent in Macon-Bibb County, Georgia was $834 per month.
What is the price-to-rent ratio in Macon-Bibb County, Georgia?
The price-to-rent ratio in Macon-Bibb County, Georgia is about 8.3, meaning it would take roughly 8.3 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 Macon-Bibb County.
Are home prices or rent rising faster in Macon-Bibb County, Georgia?
Both home prices and rent are rising in Macon-Bibb County, up about 5.3% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Macon-Bibb County, Georgia?
42.8% of households in Macon-Bibb County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Macon-Bibb County, Georgia?
The housing vacancy rate in Macon-Bibb County, Georgia is 17.0%, higher than the Georgia average of 10.6%.