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 | Statesboro | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $137,054 | $238,631 | $242,182 |
| Price Trend (Annual %) | 15.5% | 9.0% | 8.2% |
| Median Gross Rent | $947 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 2.9% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Statesboro is about 43% lower than in Georgia. Rent is about 27% 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 Statesboro, up about 15.5% and 2.9% a year respectively. Home prices are changing faster.
Median rent in Statesboro rose about 18.8% between 2015 and 2023, from $797 to $947. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Statesboro.
Buying the median-priced home in Statesboro costs roughly 12.1 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 Statesboro. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Statesboro | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $137,054 | $238,631 | $242,182 |
| Median Household Income | $43,766 | $74,683 | $78,145 |
| Price-to-Income Ratio | 3.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Statesboro fell about 25.9%, while median household income rose about 151.7% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Statesboro | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 17.1% | 58.4% | 58.2% |
| Rental Rate | 72.5% | 31.0% | 31.3% |
| Vacancy Rate | 10.3% | 10.6% | 10.6% |
| Median Tenure (years) | 7.0 | 14.0 | 15.0 |
| Median Year Moved In | 2019 | 2012 | 2011 |
Statesboro has a homeownership rate of 17.1%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 10.3%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Statesboro | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1991 | 1989 | 1978 |
| Median Number of Rooms | 4.9 | 5.9 | 5.5 |
The typical housing unit in Statesboro was built around 1991. On average, 2.4 people live in a home with about 4.9 rooms, staying for about 7.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Statesboro, Georgia.
What is the median home price in Statesboro, Georgia?
The median home price in Statesboro, Georgia is $137,054, lower than the Georgia average of $238,631.
What is the average home price in Statesboro, 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 Statesboro, Georgia?
The median gross rent in Statesboro, Georgia is $947 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Statesboro in 2020?
In 2020, the median gross rent in Statesboro, Georgia was $763 per month.
What is the price-to-rent ratio in Statesboro, Georgia?
The price-to-rent ratio in Statesboro, Georgia is about 12.1, meaning it would take roughly 12.1 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 Statesboro.
Are home prices or rent rising faster in Statesboro, Georgia?
Both home prices and rent are rising in Statesboro, up about 15.5% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Statesboro, Georgia?
17.1% of households in Statesboro, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Statesboro, Georgia?
The housing vacancy rate in Statesboro, Georgia is 10.3%, lower than the Georgia average of 10.6%.