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 | Rabun County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $418,421 | $238,631 | $242,182 |
| Price Trend (Annual %) | 21.3% | 9.0% | 8.2% |
| Median Gross Rent | $1,016 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 6.1% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rabun County is about 75% higher than in Georgia. Rent is about 22% 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 Rabun County, up about 21.3% and 6.1% a year respectively. Home prices are changing faster.
Median rent in Rabun County rose about 47.7% between 2015 and 2023, from $688 to $1,016. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 6.7 yearly household incomes in Rabun County.
Buying the median-priced home in Rabun County costs roughly 34.3 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Rabun County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Rabun County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $418,421 | $238,631 | $242,182 |
| Median Household Income | $62,245 | $74,683 | $78,145 |
| Price-to-Income Ratio | 6.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Rabun County rose about 240.2%, while median household income rose about 81.3% 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 | Rabun County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 45.3% | 58.4% | 58.2% |
| Rental Rate | 13.3% | 31.0% | 31.3% |
| Vacancy Rate | 41.4% | 10.6% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Rabun County has a homeownership rate of 45.3%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 41.4%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Rabun County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1987 | 1989 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Rabun County was built around 1987. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Rabun County, Georgia.
What is the median home price in Rabun County, Georgia?
The median home price in Rabun County, Georgia is $418,421, higher than the Georgia average of $238,631.
What is the average home price in Rabun 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 Rabun County, Georgia?
The median gross rent in Rabun County, Georgia is $1,016 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Rabun County in 2020?
In 2020, the median gross rent in Rabun County, Georgia was $810 per month.
What is the price-to-rent ratio in Rabun County, Georgia?
The price-to-rent ratio in Rabun County, Georgia is about 34.3, meaning it would take roughly 34.3 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Rabun County.
Are home prices or rent rising faster in Rabun County, Georgia?
Both home prices and rent are rising in Rabun County, up about 21.3% and 6.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Rabun County, Georgia?
45.3% of households in Rabun County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Rabun County, Georgia?
The housing vacancy rate in Rabun County, Georgia is 41.4%, higher than the Georgia average of 10.6%.