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Prices of entry-level metro Atlanta homes rising faster than incomes

Some first-time homebuyers worry as the price of entry-level homes shoots up faster than raises. Here, an open house in Mableton. (Curtis Compton ccompton@ajc.com)
Some first-time homebuyers worry as the price of entry-level homes shoots up faster than raises. Here, an open house in Mableton. (Curtis Compton ccompton@ajc.com)
By Michael E. Kanell
June 13, 2018

Home prices in metro Atlanta have been steadily rising since 2012, and much of the increase is at the lower end of the market.

That increase – driven by a surplus of wannabe buyers – has been good news for homeowners who want to sell, of course, but it’s has lifted the price of many of those homes out of reach for many people with modest incomes – especially first-time buyers.

How much is the median home price in your metro Atlanta community? The metro Atlanta region has seen a 21 percent rise in home prices in the last three years, according to Re/Max Georgia. Here's how that rise has affected the median home prices in metro Atlanta. In Gwinnett, the median home price is $252, 000. In Cobb, the median home price is $298, 500. In DeKalb, the median home price is $293, 750.

The median household income in Atlanta – often the result of several paychecks – is about $63,000. Experts say that makes the effective ceiling for a home purchase to be about $240,000.

Core counties of Atlanta 

first quarter, median home price

2018: $254,900

2017: $237,154

2016: $223,000

2015: $209,950

Source: Re/Max Georgia

For more information on affordable housing in Metro Atlanta go to myAJC.com.

About the Author

Michael E. Kanell, the AJC's economics writer, has been reporting on jobs, housing and the economy at the AJC for nearly two decades. He has appeared on television and radio to analyze and report on business and economic developments.

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