Estimated Monthly Payment — Median Georgia Home
$2,206
Based on $320,000 home · 20% down · 6.7% APR · 30-year fixed · taxes & insurance included
Median Price
$320,000
Property Tax
0.92%
Avg. HOA
$175/mo
Median Rent
$1,400/mo
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Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary. Consult a licensed mortgage professional before making real estate decisions.
Market Insights
About the Georgia housing market
Georgia's housing market is moderately priced for the region, with a median home price around $320,000. Atlanta is the largest metro, with Augusta a close second. Atlanta has been one of the fastest-growing metros in the South, with home appreciation outpacing many Northeast and West Coast markets in recent years. Georgia's effective property tax rate of 0.92% is near the national average.
The median Georgia home costs $320,000. At today's average 30-year fixed rate (6.7%) with 20% down, principal & interest works out to roughly $1,652, and the total monthly payment including taxes, insurance, and average HOA comes to approximately $2,206. First-time buyers in Georgia can explore programs through Georgia HFA.
Photo by Kaleb East on Unsplash
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FAQ
Georgia mortgage FAQs
What's the property tax rate in Georgia?
Georgia's effective property tax rate averages about 0.92% — near the national average. On a $320,000 home, that's roughly $245/month or $2,944/year.
How much do I need to earn to afford a typical Georgia home?
Using the 28/36 rule, a buyer would need roughly $83,000–$106,000 in gross annual income to comfortably afford Georgia's $320,000 median home with 20% down at current rates.
What first-time buyer programs are available in Georgia?
Georgia Dream offers the Georgia Dream Homeownership Program with $10,000-$12,500 down payment assistance and special programs for teachers, healthcare workers, and public safety personnel. Eligibility typically requires being a first-time buyer with income within program limits and completing homebuyer education.
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