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 | Stonecrest | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $300,626 | $238,631 | $242,182 |
| Price Trend (Annual %) | 20.9% | 9.0% | 8.2% |
| Median Gross Rent | $1,476 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 6.2% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Stonecrest is about 26% higher than in Georgia. Rent is about 13% 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 Stonecrest, up about 20.9% and 6.2% a year respectively. Home prices are changing faster.
Median rent in Stonecrest rose about 54.2% between 2015 and 2023, from $957 to $1,476. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Stonecrest.
Buying the median-priced home in Stonecrest costs roughly 17.0 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Stonecrest. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Stonecrest | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $300,626 | $238,631 | $242,182 |
| Median Household Income | $65,776 | $74,683 | $78,145 |
| Price-to-Income Ratio | 4.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Stonecrest rose about 127.8%, while median household income rose about 45.3% 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 | Stonecrest | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.5% | 58.4% | 58.2% |
| Rental Rate | 39.9% | 31.0% | 31.3% |
| Vacancy Rate | 12.6% | 10.6% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Stonecrest has a homeownership rate of 47.5%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 12.6%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Stonecrest | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.83 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1998 | 1989 | 1978 |
| Median Number of Rooms | 5.9 | 5.9 | 5.5 |
The typical housing unit in Stonecrest was built around 1998. On average, 2.8 people live in a home with about 5.9 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Stonecrest, Georgia.
What is the median home price in Stonecrest, Georgia?
The median home price in Stonecrest, Georgia is $300,626, higher than the Georgia average of $238,631.
What is the average home price in Stonecrest, 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 Stonecrest, Georgia?
The median gross rent in Stonecrest, Georgia is $1,476 per month, higher than the Georgia average of $1,306.
What was the median gross rent in Stonecrest in 2020?
In 2020, the median gross rent in Stonecrest, Georgia was $1,143 per month.
What is the price-to-rent ratio in Stonecrest, Georgia?
The price-to-rent ratio in Stonecrest, Georgia is about 17.0, meaning it would take roughly 17.0 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Stonecrest.
Are home prices or rent rising faster in Stonecrest, Georgia?
Both home prices and rent are rising in Stonecrest, up about 20.9% and 6.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Stonecrest, Georgia?
47.5% of households in Stonecrest, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Stonecrest, Georgia?
The housing vacancy rate in Stonecrest, Georgia is 12.6%, higher than the Georgia average of 10.6%.