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.
Housing Market Overview
| Metric | Union City | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $173,164 | $238,631 | $242,182 |
| Price Trend (Annual %) | 12.6% | 9.0% | 8.2% |
| Median Gross Rent | $1,297 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Union City is about 27% lower than in Georgia. Rent is about 1% 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 Union City, up about 12.6% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Union City rose about 47.6% between 2015 and 2023, from $879 to $1,297. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Union City.
Buying the median-priced home in Union City costs roughly 11.1 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 Union City. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Union City | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $173,164 | $238,631 | $242,182 |
| Median Household Income | $59,727 | $74,683 | $78,145 |
| Price-to-Income Ratio | 2.9 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Union City rose about 114.9%, while median household income rose about 29.8% 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 | Union City | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.8% | 58.4% | 58.2% |
| Rental Rate | 42.8% | 31.0% | 31.3% |
| Vacancy Rate | 6.4% | 10.6% | 10.6% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Union City has a homeownership rate of 50.8%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 6.4%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Union City | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1997 | 1989 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Union City was built around 1997. On average, 2.6 people live in a home with about 5.8 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Union City, Georgia.
What is the median home price in Union City, Georgia?
The median home price in Union City, Georgia is $173,164, lower than the Georgia average of $238,631.
What is the average home price in Union City, 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 Union City, Georgia?
The median gross rent in Union City, Georgia is $1,297 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Union City in 2020?
In 2020, the median gross rent in Union City, Georgia was $1,036 per month.
What is the price-to-rent ratio in Union City, Georgia?
The price-to-rent ratio in Union City, Georgia is about 11.1, meaning it would take roughly 11.1 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 Union City.
Are home prices or rent rising faster in Union City, Georgia?
Both home prices and rent are rising in Union City, up about 12.6% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Union City, Georgia?
50.8% of households in Union City, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Union City, Georgia?
The housing vacancy rate in Union City, Georgia is 6.4%, lower than the Georgia average of 10.6%.