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 | Talbot County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $92,500 | $238,631 | $242,182 |
| Price Trend (Annual %) | -7.1% | 9.0% | 8.2% |
| Median Gross Rent | $950 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 8.0% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Talbot County is about 61% lower than in Georgia. Rent is about 27% lower than the Georgia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Talbot County: home prices fell about 7.1% a year while rent rose about 8.0% a year. That is an unusual pattern worth watching.
Median rent in Talbot County rose about 66.1% between 2015 and 2023, from $572 to $950. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Talbot County.
Buying the median-priced home in Talbot County costs roughly 8.1 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 Talbot County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Talbot County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $92,500 | $238,631 | $242,182 |
| Median Household Income | $45,079 | $74,683 | $78,145 |
| Price-to-Income Ratio | 2.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Talbot County rose about 19.4%, while median household income rose about 46.5% 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 | Talbot County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.2% | 58.4% | 58.2% |
| Rental Rate | 13.3% | 31.0% | 31.3% |
| Vacancy Rate | 17.5% | 10.6% | 10.6% |
| Median Tenure (years) | 20.0 | 14.0 | 15.0 |
| Median Year Moved In | 2006 | 2012 | 2011 |
Talbot County has a homeownership rate of 69.2%, higher than the Georgia average of 58.4%. Its housing vacancy rate is 17.5%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Talbot County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1985 | 1989 | 1978 |
| Median Number of Rooms | 5.9 | 5.9 | 5.5 |
The typical housing unit in Talbot County was built around 1985. On average, 2.3 people live in a home with about 5.9 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Talbot County, Georgia.
What is the median home price in Talbot County, Georgia?
The median home price in Talbot County, Georgia is $92,500, lower than the Georgia average of $238,631.
What is the average home price in Talbot 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 Talbot County, Georgia?
The median gross rent in Talbot County, Georgia is $950 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Talbot County in 2020?
In 2020, the median gross rent in Talbot County, Georgia was $665 per month.
What is the price-to-rent ratio in Talbot County, Georgia?
The price-to-rent ratio in Talbot County, Georgia is about 8.1, meaning it would take roughly 8.1 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 Talbot County.
Are home prices or rent rising faster in Talbot County, Georgia?
Home prices and rent are moving in opposite directions in Talbot County: home prices fell about 7.1% a year while rent rose about 8.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Talbot County, Georgia?
69.2% of households in Talbot County, Georgia own their home, higher than the Georgia average of 58.4%.
What is the vacancy rate in Talbot County, Georgia?
The housing vacancy rate in Talbot County, Georgia is 17.5%, higher than the Georgia average of 10.6%.