Home Affordability in Athens, GA
The median home price in Athens is $260,000 with a median household income of $36,425. Housing is significantly stretched relative to local incomes.
Median Home Price
$260,000
Median Income
$36,425
Price-to-Income Ratio
7.1x
Est. Affordable Home
$142,000
Property Tax Rate
1.08%
Annual Property Tax
$2,808
Sales Tax Rate
8.00%
Cost of Living Index
90
Buying a Home in Athens
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $36,425 in Athens can afford a monthly housing payment of approximately $850. This translates to a home price of roughly $142,000, which is below the median home price of $260,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Athens would be approximately $2,808 per year ($234/month) at the effective rate of 1.08%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $7,800 | $252,200 | Yes |
| 5% | $13,000 | $247,000 | Yes |
| 10% | $26,000 | $234,000 | Yes |
| 20% | $52,000 | $208,000 | No |
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