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 | Wilkes County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $450,000 | $238,631 | $242,182 |
| Price Trend (Annual %) | 42.9% | 9.0% | 8.2% |
| Median Gross Rent | $759 | $1,306 | $1,342 |
| Rent Trend (Annual %) | 3.6% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wilkes County is about 89% higher than in Georgia. Rent is about 42% 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 Wilkes County, up about 42.9% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Wilkes County rose about 23.2% between 2015 and 2023, from $616 to $759. Over the same span, rent in Georgia rose about 48.7%.
Affordability
On average, housing unit costs 8.5 yearly household incomes in Wilkes County.
Buying the median-priced home in Wilkes County costs roughly 49.4 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 Wilkes County. The price-to-rent ratio in Georgia is about 15.2.
| Metric | Wilkes County | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $450,000 | $238,631 | $242,182 |
| Median Household Income | $53,092 | $74,683 | $78,145 |
| Price-to-Income Ratio | 8.5 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Wilkes County rose about 443.4%, while median household income rose about 67.7% 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 | Wilkes County | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.6% | 58.4% | 58.2% |
| Rental Rate | 26.3% | 31.0% | 31.3% |
| Vacancy Rate | 21.2% | 10.6% | 10.6% |
| Median Tenure (years) | 21.0 | 14.0 | 15.0 |
| Median Year Moved In | 2005 | 2012 | 2011 |
Wilkes County has a homeownership rate of 52.6%, lower than the Georgia average of 58.4%. Its housing vacancy rate is 21.2%, compared with 10.6% in Georgia.
Housing Stock
| Metric | Wilkes County | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.64 people | 2.54 people |
| Median Structure Built Year | 1977 | 1989 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Wilkes County was built around 1977. On average, 2.3 people live in a home with about 5.7 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Wilkes County, Georgia.
What is the median home price in Wilkes County, Georgia?
The median home price in Wilkes County, Georgia is $450,000, higher than the Georgia average of $238,631.
What is the average home price in Wilkes 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 Wilkes County, Georgia?
The median gross rent in Wilkes County, Georgia is $759 per month, lower than the Georgia average of $1,306.
What was the median gross rent in Wilkes County in 2020?
In 2020, the median gross rent in Wilkes County, Georgia was $693 per month.
What is the price-to-rent ratio in Wilkes County, Georgia?
The price-to-rent ratio in Wilkes County, Georgia is about 49.4, meaning it would take roughly 49.4 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 Wilkes County.
Are home prices or rent rising faster in Wilkes County, Georgia?
Both home prices and rent are rising in Wilkes County, up about 42.9% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wilkes County, Georgia?
52.6% of households in Wilkes County, Georgia own their home, lower than the Georgia average of 58.4%.
What is the vacancy rate in Wilkes County, Georgia?
The housing vacancy rate in Wilkes County, Georgia is 21.2%, higher than the Georgia average of 10.6%.