Compare mortgage rates and closing costs for leading lenders in Georgia. Review free, personalized mortgage rates for Georgia based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.
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August 22, 2019
The current average rate for a 30 year fixed rate mortgage in Georgia is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for Georgia is $200,027
The median household income for Georgia is $56,779
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Georgia is $37,111
The home price you can afford to by based on household income in Georgia is 153% of the median home value which means housing prices are average. Georgia ranks 22 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Georgia is average
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
FREEandCLEAR Housing Affordability Index