Income needed to buy a house in Georgia
A median-priced home in Georgia costs $343,300. With 20% down you'd need about $92,777 a year, $12,786 more than the state's median household income of $79,991. Georgia ranks #26 of 51 for the lowest income needed.
Income needed: $92,777 a year
Defaults: state median home value and property tax (Census ACS 2024), median homeowners insurance paid by owners with a mortgage (Census ACS 2024; quotes vary by home and ZIP code), 30-year rate 6.95% (Freddie Mac, week of 2026-09-17).
You'd need a household income of about $92,777 a year to buy a $343,300 home in Georgia with $68,660 down.
Based on lenders' 28/36 rule: housing costs under 28% of gross income, all debt under 36%.
| Monthly cost | Amount |
|---|---|
| Principal & interest | $1,818 |
| Property tax | $213 |
| Homeowners insurance | $134 |
| Total | $2,165 |
Monthly cost by down payment
| Down payment | Cash down | Monthly cost | Income needed |
|---|---|---|---|
| 5% | $17,165 | $2,642 | $113,210 |
| 10% | $34,330 | $2,521 | $108,034 |
| 20% | $68,660 | $2,165 | $92,777 |
Under 20% down includes estimated private mortgage insurance of 0.5% of the loan per year.
Buying in Georgia: what's different
- Transfer tax
- 0.1% transfer tax
- On the median home
- $340
- Homestead break
- $2,000 off assessed value
- First-time buyer help
- Georgia Department of Community Affairs
- Transfer and recording taxes. The real estate transfer tax is $1 per $1,000 of the price (0.1%), which the seller owes unless the contract shifts it. Mortgages also carry an intangible recording tax of $1.50 per $500 of the loan (0.3%), up to $25,000. On the median Georgia home ($343,300), that's about $340 in transfer tax.
- Property tax breaks for your home. The statewide homestead exemption takes $2,000 off assessed value (Georgia assesses homes at 40% of market value) for county and school taxes, and many counties offer larger exemptions or value freezes. A 2024 law, HB 581, also limits yearly growth in a homestead's taxable value to inflation unless your county, city or school district opted out. You must own the home on January 1 and apply with the county.
- First-time buyer help. The Georgia Department of Community Affairs offers Georgia Dream through participating lenders. Check its site for income and price limits.
Checked against official sources on September 25, 2026. Local transfer taxes and exemptions vary, so confirm with the county before you close.
Home prices in the Georgia metro areas we cover
| Metro area | Income needed | Median home value | Median household income |
|---|---|---|---|
| Atlanta, GA | $108,622 | $402,100 | $92,344 |
| Savannah, GA | $95,047 | $349,900 | $80,518 |
| Augusta, GA | $70,627 | $262,100 | $72,176 |
| Columbus, GA | $62,270 | $224,600 | $60,100 |
| Chattanooga, TN (27% in GA) | $85,029 | $324,500 | $75,076 |
With 20% down, the median home takes about $62,270 a year in the Columbus, GA area and $108,622 in the Atlanta area, compared with $92,777 for the statewide median.
Metro medians from Census ACS 2024 cover the whole metro area, including any part in a neighboring state. The metro area centered in Tennessee is included because many of its residents live in Georgia; the share in the state is in parentheses. Rows are ordered by how many residents live in Georgia. Income needed: 20% down at 6.95%, the metro's median property tax and its main state's median homeowners insurance for homes with a mortgage (Census ACS 2024), under the 28% rule.
What makes owning in Georgia about average among states
- Home prices: the median value of $343,300 is 5% below the U.S. median of $360,600.
- Property tax: about 0.74% of value a year ($213 a month on the median home).
- Insurance: owners with a mortgage paid a median $1,608 a year for homeowners insurance in 2024 (Census ACS). Premiums have risen in most states since then, and they vary a lot by home and ZIP code, so get quotes.
- Mortgage rate: each 1-point rise in rates adds roughly $188 a month on this loan.
13 states need at least 20% less income to buy their median home. States with a similar income requirement:
Frequently asked questions
How much do you need to make to buy a house in Georgia?
About $92,777 a year for the median home of $343,300 with 20% down at 6.95%. With 10% down it's about $108,034.
What is the property tax rate in Georgia?
The median Georgia homeowner pays $2,554 a year, about 0.74% of the median home value (Census ACS 2024). Rates vary by county and city.
Is it cheaper to rent or buy in Georgia?
Median rent is $1,506 a month, while owning the median home costs about $2,165 a month with 20% down, before maintenance. Renting affordably takes about $60,240 a year under the 30% rule.