News about increasing home prices seems to have dominated headlines this year. But not every place has seen high-priced homes.
24/7 Wall St. analyzed data from ATTOM Data Solutions’ first-quarter 2021 U.S. Home Affordability Report. The financial news and opinion website defined the cheapest homes by ranking counties on the annual wages compared to housing costs of a median-priced home. The Bureau of Labor Statistics provided data on income based on annualized weekly wages.
Three Georgia counties made the list.
Richmond County - No. 21
According to the U.S. Census Bureau, Richmond County has 202,000 residents. There are nearly 90,000 housing units and 71,000, households. Data from ATTOM show residents need 12.6% of annual wages to afford average monthly housing costs. The Q1 median home price is $119,000 and wages total $49,426 annually.
Clayton County - No. 18
The Census Bureau says Clayton County has a population of 292,000. The county has 106,000 housing units and 94,000 households. People in the county require 12.4% of annual wages to afford median monthly housing prices. On average, Q1 homes cost $150,000. Weekly wages total $62,036 a year.
Bibb County - No. 2
Bibb County is home to 153,000 residents, the Census Bureau said. There are 70,000 housing units and 58,000 households. Residents need just 8.3% of annual wages to afford median monthly housing prices. In Q1, that amounted to $71,000. Weekly wages add up to $46,020 for the year.
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