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 | Towns County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $330,930 | $238,631 | $242,182 |
| Price Trend (Annual %) | 4.9% | 9.0% | 8.2% |
| Median Gross Rent | $822 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Towns County is about 39% higher than in Georgia. Rent is about 37% 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 Towns County, up about 4.9% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Towns County rose about 21.0% between 2015 and 2023, from $679 to $822. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 5.7 yearly household incomes in Towns County.
Buying the median-priced home in Towns County costs roughly 33.6 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 Towns County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Towns County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $330,930 | $238,631 | $242,182 |
| Median Household Income | $57,633 | $74,683 | $78,145 |
| Price-to-Income Ratio | 5.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Towns County rose about 35.3%, while median household income rose about 44.6% 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 | Towns County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.4% | 58.4% | 58.2% |
| Rental Rate | 13.3% | 31.0% | 31.3% |
| Vacancy Rate | 33.3% | 10.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Towns County has a homeownership rate of 53.4%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 33.3%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Towns County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.04 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1993 | 1989 | 1978 |
| Median Number of Rooms | 5.5 | 5.9 | 5.5 |
The typical housing unit in Towns County was built around 1993. On average, 2.0 people live in a home with about 5.5 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Towns County, Georgia.
What is the median home price in Towns County, Georgia?
The median home price in Towns County, Georgia is $330,930, higher than the Georgia average of $238,631.
What is the average home price in Towns 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 Towns County, Georgia?
The median gross rent in Towns County, Georgia is $822 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Towns County in 2020?
In 2020, the median gross rent in Towns County, Georgia was $775 per month.
What is the price-to-rent ratio in Towns County, Georgia?
The price-to-rent ratio in Towns County, Georgia is about 33.6, meaning it would take roughly 33.6 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 Towns County.
Are home prices or rent rising faster in Towns County, Georgia?
Both home prices and rent are rising in Towns County, up about 4.9% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Towns County, Georgia?
53.4% of households in Towns County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Towns County, Georgia?
The housing vacancy rate in Towns County, Georgia is 33.3%, higher than the Georgia average of 10.6%.