Compare Georgia mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Georgia.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Georgia. Plus, shopping lenders is free and there is no obligation.
December 1, 2023
Below we offer valuable insights on the housing market and real estate prices in Georgia. Understand how much you need to make to buy a house in Georgia, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Georgia is affordable for you. We provide this helpful information to help you decide if living in Georgia is right for you.
The median home value for Georgia is $288,276
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Georgia is $60,139
With this income, you could qualify for a $259,449 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Georgia is $1,393
The median household income for Georgia is $69,461
Based on this income, you can afford a home valued at approximately $332,961
The home price you can afford to buy based on household income in Georgia is 116% of the median home value which means housing prices are average. Georgia ranks 23 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Georgia is average