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 | Sugar Hill | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $349,914 | $238,631 | $242,182 |
| Price Trend (Annual %) | 7.8% | 9.0% | 8.2% |
| Median Gross Rent | $1,781 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 5.2% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sugar Hill is about 47% higher than in Georgia. Rent is about 36% 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 Sugar Hill, up about 7.8% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Sugar Hill rose about 38.8% between 2015 and 2023, from $1,283 to $1,781. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Sugar Hill.
Buying the median-priced home in Sugar Hill costs roughly 16.4 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 Sugar Hill. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Sugar Hill | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $349,914 | $238,631 | $242,182 |
| Median Household Income | $110,049 | $74,683 | $78,145 |
| Price-to-Income Ratio | 3.2 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sugar Hill rose about 72.9%, while median household income rose about 35.5% 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 | Sugar Hill | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 76.3% | 58.4% | 58.2% |
| Rental Rate | 21.1% | 31.0% | 31.3% |
| Vacancy Rate | 2.6% | 10.6% | 10.6% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Sugar Hill has a homeownership rate of 76.3%, higher than the Georgia average of 58.4%. Its housing vacancy rate is 2.6%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Sugar Hill | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.05 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 2000 | 1989 | 1978 |
| Median Number of Rooms | 6.7 | 5.9 | 5.5 |
The typical housing unit in Sugar Hill was built around 2000. On average, 3.1 people live in a home with about 6.7 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sugar Hill, Georgia.
What is the median home price in Sugar Hill, Georgia?
The median home price in Sugar Hill, Georgia is $349,914, higher than the Georgia average of $238,631.
What is the average home price in Sugar Hill, 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 Sugar Hill, Georgia?
The median gross rent in Sugar Hill, Georgia is $1,781 per month, higher than the Georgia average of $1,306.
What was the median gross rent in Sugar Hill in 2020?
In 2020, the median gross rent in Sugar Hill, Georgia was $1,376 per month.
What is the price-to-rent ratio in Sugar Hill, Georgia?
The price-to-rent ratio in Sugar Hill, Georgia is about 16.4, meaning it would take roughly 16.4 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 Sugar Hill.
Are home prices or rent rising faster in Sugar Hill, Georgia?
Both home prices and rent are rising in Sugar Hill, up about 7.8% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sugar Hill, Georgia?
76.3% of households in Sugar Hill, Georgia own their home, higher than the Georgia average of 58.4%.
What is the vacancy rate in Sugar Hill, Georgia?
The housing vacancy rate in Sugar Hill, Georgia is 2.6%, lower than the Georgia average of 10.6%.