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 | Sandy Springs | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $625,139 | $238,631 | $242,182 |
| Price Trend (Annual %) | 4.6% | 9.0% | 8.2% |
| Median Gross Rent | $1,784 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 7.4% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sandy Springs is about 162% higher than in Georgia. Rent is about 37% higher 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 Sandy Springs, up about 4.6% and 7.4% a year respectively. Rent is changing faster.
Median rent in Sandy Springs rose about 72.0% between 2015 and 2023, from $1,037 to $1,784. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 6.2 yearly household incomes in Sandy Springs.
Buying the median-priced home in Sandy Springs costs roughly 29.2 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 Sandy Springs. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Sandy Springs | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $625,139 | $238,631 | $242,182 |
| Median Household Income | $101,227 | $74,683 | $78,145 |
| Price-to-Income Ratio | 6.2 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sandy Springs rose about 175.8%, while median household income rose about 29.6% 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 | Sandy Springs | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.4% | 58.4% | 58.2% |
| Rental Rate | 45.8% | 31.0% | 31.3% |
| Vacancy Rate | 6.8% | 10.6% | 10.6% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Sandy Springs has a homeownership rate of 47.4%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 6.8%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Sandy Springs | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.05 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1990 | 1989 | 1978 |
| Median Number of Rooms | 5.0 | 5.9 | 5.5 |
The typical housing unit in Sandy Springs was built around 1990. On average, 2.0 people live in a home with about 5.0 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sandy Springs, Georgia.
What is the median home price in Sandy Springs, Georgia?
The median home price in Sandy Springs, Georgia is $625,139, higher than the Georgia average of $238,631.
What is the average home price in Sandy Springs, 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 Sandy Springs, Georgia?
The median gross rent in Sandy Springs, Georgia is $1,784 per month, higher than the Georgia average of $1,306.
What was the median gross rent in Sandy Springs in 2020?
In 2020, the median gross rent in Sandy Springs, Georgia was $1,380 per month.
What is the price-to-rent ratio in Sandy Springs, Georgia?
The price-to-rent ratio in Sandy Springs, Georgia is about 29.2, meaning it would take roughly 29.2 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 Sandy Springs.
Are home prices or rent rising faster in Sandy Springs, Georgia?
Both home prices and rent are rising in Sandy Springs, up about 4.6% and 7.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Sandy Springs, Georgia?
47.4% of households in Sandy Springs, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Sandy Springs, Georgia?
The housing vacancy rate in Sandy Springs, Georgia is 6.8%, lower than the Georgia average of 10.6%.