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 | Troup County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $144,511 | $238,631 | $242,182 |
| Price Trend (Annual %) | 0.2% | 9.0% | 8.2% |
| Median Gross Rent | $1,044 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Troup County is about 39% lower than in Georgia. Rent is about 20% 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 Troup County, up about 0.2% and 4.0% a year respectively. Rent is changing faster.
Median rent in Troup County rose about 35.7% between 2015 and 2023, from $770 to $1,044. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Troup County.
Buying the median-priced home in Troup County costs roughly 11.5 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 Troup County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Troup County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $144,511 | $238,631 | $242,182 |
| Median Household Income | $55,941 | $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 Troup County fell about 32.8%, while median household income rose about 40.5% 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 | Troup County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.9% | 58.4% | 58.2% |
| Rental Rate | 37.7% | 31.0% | 31.3% |
| Vacancy Rate | 10.4% | 10.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Troup County has a homeownership rate of 51.9%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 10.4%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Troup County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.61 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1984 | 1989 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Troup County was built around 1984. On average, 2.6 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Troup County, Georgia.
What is the median home price in Troup County, Georgia?
The median home price in Troup County, Georgia is $144,511, lower than the Georgia average of $238,631.
What is the average home price in Troup 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 Troup County, Georgia?
The median gross rent in Troup County, Georgia is $1,044 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Troup County in 2020?
In 2020, the median gross rent in Troup County, Georgia was $849 per month.
What is the price-to-rent ratio in Troup County, Georgia?
The price-to-rent ratio in Troup County, Georgia is about 11.5, meaning it would take roughly 11.5 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 Troup County.
Are home prices or rent rising faster in Troup County, Georgia?
Both home prices and rent are rising in Troup County, up about 0.2% and 4.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Troup County, Georgia?
51.9% of households in Troup County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Troup County, Georgia?
The housing vacancy rate in Troup County, Georgia is 10.4%, lower than the Georgia average of 10.6%.