CALCMONEY // HOME AFFORDABILITY // GA
Find out how much home you can afford in Georgia using local median home prices, current mortgage rates, and GA-specific property tax data.
Open Full Calculator$345,000
$2,226/mo
$210,374
$95,399/yr
| Median Home Price | $345,000 |
| Down Payment (20%) | $69,000 |
| Loan Amount | $276,000 |
| Monthly PI Payment | $1,818 |
| Monthly Property Tax | $265 |
| Monthly Insurance Est. | $144 |
| Total Monthly PITI | $2,226 |
| Required Gross Income (28% rule) | $95,399/yr |
| Max Affordable Price (28% rule) | $210,374 |
$12,075
$2,837/mo
Georgia Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $345,000 | State median |
| Down Payment (20%) | $69,000 | Conventional |
| Monthly PITI (median home) | $2,226 | 6.9% rate |
| Required Income (28% rule) | $95,399 | Annual gross |
| Max Affordable Home | $210,374 | Based on median income |
| FHA Down Payment (3.5%) | $12,075 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Georgia is $345,000, with a current 30-year fixed mortgage rate of 6.9%. A buyer putting 20% down on the median home would carry a loan of $276,000, resulting in a monthly principal and interest payment of $1,818. Once property taxes and insurance are added, total monthly housing costs reach $2,226.
Property taxes in Georgia average 0.92%, near the national average of 1.1%. On the median Georgia home, property taxes add $265/month to total housing costs.
Georgia levies a state income tax of 5.49% flat, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and Georgia state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning Georgia's median income of $65,000/year can afford up to $1,517/month in total housing costs (principal, interest, taxes, and insurance). Based on Georgia's current mortgage rate of 6.9% and property tax rate of 0.92%, that translates to a maximum affordable home price of approximately $210,374 with 20% down on a 30-year loan.
To comfortably afford the median Georgia home priced at $345,000, you need an annual gross income of approximately $95,399. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $1,818, property taxes of $265, and insurance of $144) come to $2,226/month, which should not exceed 28% of your gross monthly income.
Georgia's average property tax rate is 0.92%, which is near the national average of 1.1%. On the median Georgia home of $345,000, that means annual property taxes of $3,174, or $265/month. Because lenders include property taxes in your debt-to-income calculation, Georgia's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Georgia home of $345,000, that is $12,075. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($69,000 on the median Georgia home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Georgia-specific minimum down payment requirements beyond federal guidelines.