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.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Sumter County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $110,000 | $238,631 | $242,182 |
| Price Trend (Annual %) | 10.2% | 9.0% | 8.2% |
| Median Gross Rent | $847 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 4.1% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sumter County is about 54% lower than in Georgia. Rent is about 35% 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 Sumter County, up about 10.2% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Sumter County rose about 33.7% between 2015 and 2023, from $633 to $847. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Sumter County.
Buying the median-priced home in Sumter County costs roughly 10.8 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 Sumter County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Sumter County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $110,000 | $238,631 | $242,182 |
| Median Household Income | $42,075 | $74,683 | $78,145 |
| Price-to-Income Ratio | 2.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sumter County rose about 8.8%, while median household income rose about 28.1% 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 | Sumter County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 44.2% | 58.4% | 58.2% |
| Rental Rate | 36.2% | 31.0% | 31.3% |
| Vacancy Rate | 19.6% | 10.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Sumter County has a homeownership rate of 44.2%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 19.6%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Sumter County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.52 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1980 | 1989 | 1978 |
| Median Number of Rooms | 5.5 | 5.9 | 5.5 |
The typical housing unit in Sumter County was built around 1980. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sumter County, Georgia.
What is the median home price in Sumter County, Georgia?
The median home price in Sumter County, Georgia is $110,000, lower than the Georgia average of $238,631.
What is the average home price in Sumter County, 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 Sumter County, Georgia?
The median gross rent in Sumter County, Georgia is $847 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Sumter County in 2020?
In 2020, the median gross rent in Sumter County, Georgia was $713 per month.
What is the price-to-rent ratio in Sumter County, Georgia?
The price-to-rent ratio in Sumter County, Georgia is about 10.8, meaning it would take roughly 10.8 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 Sumter County.
Are home prices or rent rising faster in Sumter County, Georgia?
Both home prices and rent are rising in Sumter County, up about 10.2% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sumter County, Georgia?
44.2% of households in Sumter County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Sumter County, Georgia?
The housing vacancy rate in Sumter County, Georgia is 19.6%, higher than the Georgia average of 10.6%.