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 | South Fulton | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $191,380 | $238,631 | $242,182 |
| Price Trend (Annual %) | 6.0% | 9.0% | 8.2% |
| Median Gross Rent | $1,508 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 6.5% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in South Fulton is about 20% lower than in Georgia. Rent is about 15% 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 South Fulton, up about 6.0% and 6.5% a year respectively. Rent is changing faster.
Median rent in South Fulton rose about 56.2% between 2015 and 2023, from $965 to $1,508. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in South Fulton.
Buying the median-priced home in South Fulton costs roughly 10.6 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 South Fulton. The price-to-rent ratio in Georgia is about 15.2.
| Metric | South Fulton | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $191,380 | $238,631 | $242,182 |
| Median Household Income | $79,614 | $74,683 | $78,145 |
| Price-to-Income Ratio | 2.4 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in South Fulton rose about 50.7%, while median household income rose about 46.6% 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 | South Fulton | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.2% | 58.4% | 58.2% |
| Rental Rate | 29.8% | 31.0% | 31.3% |
| Vacancy Rate | 7.0% | 10.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
South Fulton has a homeownership rate of 63.2%, higher than the Georgia average of 58.4%. Its housing vacancy rate is 7.0%, compared with 10.6% in Georgia.
Housing Stock
| Metric | South Fulton | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.73 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1998 | 1989 | 1978 |
| Median Number of Rooms | 6.8 | 5.9 | 5.5 |
The typical housing unit in South Fulton was built around 1998. On average, 2.7 people live in a home with about 6.8 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in South Fulton, Georgia.
What is the median home price in South Fulton, Georgia?
The median home price in South Fulton, Georgia is $191,380, lower than the Georgia average of $238,631.
What is the average home price in South Fulton, 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 South Fulton, Georgia?
The median gross rent in South Fulton, Georgia is $1,508 per month, higher than the Georgia average of $1,306.
What was the median gross rent in South Fulton in 2020?
In 2020, the median gross rent in South Fulton, Georgia was $1,159 per month.
What is the price-to-rent ratio in South Fulton, Georgia?
The price-to-rent ratio in South Fulton, Georgia is about 10.6, meaning it would take roughly 10.6 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 South Fulton.
Are home prices or rent rising faster in South Fulton, Georgia?
Both home prices and rent are rising in South Fulton, up about 6.0% and 6.5% a year respectively. Rent is changing faster.
What is the homeownership rate in South Fulton, Georgia?
63.2% of households in South Fulton, Georgia own their home, higher than the Georgia average of 58.4%.
What is the vacancy rate in South Fulton, Georgia?
The housing vacancy rate in South Fulton, Georgia is 7.0%, lower than the Georgia average of 10.6%.