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 | Thomas County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $253,846 | $238,631 | $242,182 |
| Price Trend (Annual %) | 13.4% | 9.0% | 8.2% |
| Median Gross Rent | $995 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Thomas County is about 6% higher than in Georgia. Rent is about 24% 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 Thomas County, up about 13.4% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Thomas County rose about 40.3% between 2015 and 2023, from $709 to $995. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Thomas County.
Buying the median-priced home in Thomas County costs roughly 21.3 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Thomas County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Thomas County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $253,846 | $238,631 | $242,182 |
| Median Household Income | $60,202 | $74,683 | $78,145 |
| Price-to-Income Ratio | 4.2 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Thomas County rose about 137.1%, while median household income rose about 65.5% 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 | Thomas County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.3% | 58.4% | 58.2% |
| Rental Rate | 33.4% | 31.0% | 31.3% |
| Vacancy Rate | 12.3% | 10.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Thomas County has a homeownership rate of 54.3%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 12.3%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Thomas County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1985 | 1989 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Thomas County was built around 1985. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Thomas County, Georgia.
What is the median home price in Thomas County, Georgia?
The median home price in Thomas County, Georgia is $253,846, higher than the Georgia average of $238,631.
What is the average home price in Thomas 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 Thomas County, Georgia?
The median gross rent in Thomas County, Georgia is $995 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Thomas County in 2020?
In 2020, the median gross rent in Thomas County, Georgia was $871 per month.
What is the price-to-rent ratio in Thomas County, Georgia?
The price-to-rent ratio in Thomas County, Georgia is about 21.3, meaning it would take roughly 21.3 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Thomas County.
Are home prices or rent rising faster in Thomas County, Georgia?
Both home prices and rent are rising in Thomas County, up about 13.4% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Thomas County, Georgia?
54.3% of households in Thomas County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Thomas County, Georgia?
The housing vacancy rate in Thomas County, Georgia is 12.3%, higher than the Georgia average of 10.6%.