This is the Average Cost of a Home in Georgia

  • Georgia Perimeter Homes
  • 11/17/21

A surge in demand for homes in the United States, in addition to limited housing inventory, has created a sellers market unlike anything seen in recent memory. Homes are now selling faster than ever before -- and also for more money than ever before.

As of August 2021, a typical single-family home in the United States costs $303,288. Of course, home values are not uniform across the country, and in some states, the typical home costs far more than the national average -- while in others, homes cost far less.

According to estimates from Zillow, a Seattle-based real estate data company, the value of a typical single-family home in Georgia is $256,962, lower than the national average.

Across Georgia, the value of a single-family home across increased by 18.6% over the one year period from August 2020 to August 2021, just compared to the national one-year home value appreciation of 17.7%.

Housing prices are determined by supply and demand forces as well as what local residents are willing to pay -- and that is influenced largely by what they can afford. As a result, areas with higher than average home values often also have higher-income residents. Georgia is no exception. The typical household in the state earns $61,980 annually, $3,700 less than the national median household income of $65,712.

This is How Much Home You Can Buy For 200K in Every State

Rank State Value of a typical single-family home 1-yr. increase in home value Median household income
1 Hawaii $764,146 14.5% $83,102
2 California $708,936 21.9% $80,440
3 Massachusetts $533,440 18.5% $85,843
4 Washington $542,012 22.8% $78,687
5 Colorado $509,800 20.3% $77,127
6 Oregon $468,953 20.7% $67,058
7 Utah $493,221 28.5% $75,780
8 New Jersey $421,124 18.9% $85,751
9 New York $363,990 14.2% $72,108
10 Idaho $427,410 36.0% $60,999
11 Maryland $373,264 14.7% $86,738
12 Rhode Island $387,693 21.5% $71,169
13 Nevada $389,397 23.8% $63,276
14 New Hampshire $381,978 21.8% $77,933
15 Montana $374,980 22.7% $57,153
16 Arizona $376,369 30.7% $62,055
17 Virginia $335,198 12.7% $76,456
18 Alaska $304,908 4.1% $75,463
19 Connecticut $326,124 20.7% $78,833
20 Delaware $317,985 16.5% $70,176
21 Minnesota $307,644 13.4% $74,593
22 Vermont $308,300 12.9% $63,001
23 Maine $318,628 22.7% $58,924
24 Florida $313,217 20.1% $59,227
25 Wyoming $279,449 6.4% $65,003
26 North Dakota $252,788 6.4% $64,577
27 New Mexico $253,790 17.8% $51,945
28 North Carolina $260,597 19.0% $57,341
29 South Dakota $249,314 11.9% $59,533
30 Texas $257,628 18.1% $64,034
31 Georgia $256,962 18.6% $61,980
32 Illinois $239,408 13.3% $69,187
33 Pennsylvania $240,658 16.2% $63,463
34 Wisconsin $236,551 14.6% $64,168
35 Tennessee $241,626 17.4% $56,071
36 South Carolina $236,344 15.7% $56,227
37 Nebraska $210,585 12.5% $63,229
38 Michigan $214,231 17.4% $59,584
39 Missouri $198,838 14.8% $57,409
40 Louisiana $193,114 8.7% $51,073
41 Indiana $191,054 14.8% $57,603
42 Ohio $186,211 15.3% $58,642
43 Kansas $180,914 12.5% $62,087
44 Kentucky $172,433 11.6% $52,295
45 Iowa $168,545 7.7% $61,691
46 Alabama $175,586 13.7% $51,734
47 Arkansas $153,263 12.2% $48,952
48 Oklahoma $155,012 11.9% $54,449
49 Mississippi $144,074 9.8% $45,792
50 West Virginia $118,581 8.2% $48,850

 

Source: https://www.thecentersquare.com/georgia/this-is-the-average-cost-of-a-home-in-georgia/article_ff01c1e1-dfbc-5f91-b6e0-7a867d62e69c.html

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