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 | Martinez | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,277 | $238,631 | $242,182 |
| Price Trend (Annual %) | 8.3% | 9.0% | 8.2% |
| Median Gross Rent | $1,209 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 2.6% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Martinez is about 10% lower than in Georgia. Rent is about 7% 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 Martinez, up about 8.3% and 2.6% a year respectively. Home prices are changing faster.
Median rent in Martinez rose about 18.4% between 2015 and 2023, from $1,021 to $1,209. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Martinez.
Buying the median-priced home in Martinez costs roughly 14.8 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 Martinez. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Martinez | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,277 | $238,631 | $242,182 |
| Median Household Income | $82,524 | $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 Martinez rose about 73.3%, while median household income rose about 28.9% 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 | Martinez | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.3% | 58.4% | 58.2% |
| Rental Rate | 23.9% | 31.0% | 31.3% |
| Vacancy Rate | 16.8% | 10.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Martinez has a homeownership rate of 59.3%, higher than the Georgia average of 58.4%. Its housing vacancy rate is 16.8%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Martinez | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.71 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1985 | 1989 | 1978 |
| Median Number of Rooms | 6.3 | 5.9 | 5.5 |
The typical housing unit in Martinez was built around 1985. 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 Martinez, Georgia.
What is the median home price in Martinez, Georgia?
The median home price in Martinez, Georgia is $215,277, lower than the Georgia average of $238,631.
What is the average home price in Martinez, 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 Martinez, Georgia?
The median gross rent in Martinez, Georgia is $1,209 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Martinez in 2020?
In 2020, the median gross rent in Martinez, Georgia was $1,086 per month.
What is the price-to-rent ratio in Martinez, Georgia?
The price-to-rent ratio in Martinez, Georgia is about 14.8, meaning it would take roughly 14.8 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 Martinez.
Are home prices or rent rising faster in Martinez, Georgia?
Both home prices and rent are rising in Martinez, up about 8.3% and 2.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Martinez, Georgia?
59.3% of households in Martinez, Georgia own their home, higher than the Georgia average of 58.4%.
What is the vacancy rate in Martinez, Georgia?
The housing vacancy rate in Martinez, Georgia is 16.8%, higher than the Georgia average of 10.6%.