Real estate works similarly to other markets.

Where to find Georgia’s most affordable homes

The cost of housing across the state is on the rise, and affordable options continue to move farther away from bustling city centers. But if you’re in the market for a new home, some locales certainly fare better than others.

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According to the latest estimates from the Census Bureau’s American Community Survey, “the premier source for detailed population and housing information about our nation,” the Georgia median multiple is 3.1, a year-over-year decrease of 0.7 percent.

A median multiple, according to HomeArea.com, “answers the question, ‘how many years would it take for the median income to pay off the median home price?’ A median multiple under three is considered affordable. People in these areas have a relatively easier time paying off a home.

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For their new report, analysts at the housing website looked at all Georgia cities with a population of at least 60,000 (and with enough census data) to determine the places with the lowest median multiple — or the most affordable homes.

According to the report, the No. 1 city for most inexpensive homes is Warner Robins, which boasts a meager median multiple of 1.9, median home value of $111,300 and median household income of $45,000. The poverty rate in the middle Georgia city is 20 percent. The state’s overall rate sits at 14.9 percent.

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Augusta-Richmond County (2.7) and Albany (2.9) also had affordable median multiples, but both metros have poverty rates higher than Warner Robins’.

In Augusta-Richmond County, the median home value is $101,200; median household income is $38,000; and 25 percent of its population is considered impoverished.

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Albany’s poverty rate is 34 percent. And, according to HomeArea, com, the southwest Georgia city has a median home value of $98,200 and median household income of $29,000.

Census data shows Sandy Springs, Atlanta and Roswell are among the state’s most expensive metros for homebuyers, but with a 3.7 median multiple, Johns Creek experienced the largest year-over-year increase. It jumped 16.7 percent from its previous 3.2 median multiple.

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Here’s a breakdown of median multiples, median home values, median household incomes and poverty rates among Georgia’s most affordable and most expensive large metros:

1. Warner Robins 

Population: 69.695
Median multiple: 1.9
Median home value: $111,300

Median household income: $45,000

Poverty rate: 20 percent

2. Augusta-Richmond County

Population: 196,395

Median multiple: 2.7
Median home value: $101,200

Median household income: $38,000

Poverty rate: 25 percent

» RELATED: Do you rent in one of Georgia’s 20 most expensive ZIP codes?

3. Albany

Population: 77,196

Median multiple: 2.9
Median home value: $98,200

Median household income: $29,000

Poverty rate: 34 percent

4. Macon-Bibb County

Population: 152,663

Median multiple: 3.1
Median home value: $117,300

Median household income: $38,247

Poverty rate: 26.7 percent

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5. Columbus

Population: 194,949

Median multiple: 3.3
Median home value: $133,300

Median household income: $41,000

Poverty rate: 20 percent

6. Savannah

Population: 139,620

Median multiple: 3.5
Median home value: $145,900

Median household income: $36,000

Poverty rate: 26 percent

7. Johns Creek

Population: 79,352

Median multiple: 3.7
Median home value: $324,800

Median household income: $109,000

Poverty rate: 5 percent

» RELATED: MAP: Atlanta’s most affordable neighborhoods by home value

8. Alpharetta

Population: 59,553

Median multiple: 3.8
Median home value: $311,100

Median household income: $86,000

Poverty rate: 4 percent

9. Athens-Clarke County

Population: 117,749

Median multiple: 4.2
Median home value: $156,700

Median household income: $33,000

Poverty rate: 37 percent

10. Roswell

Population: 90,959

Median multiple: 4.4
Median home value: $290,100

Median household income: $80,000

Poverty rate: 9 percent

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11. Atlanta

Population: 432,589

Median multiple: 5.2
Median home value: $210,000

Median household income: $47,000

Poverty rate: 25 percent

12. Sandy Springs

Population: 96,584

Median multiple: 6.7
Median home value: $424,700

Median household income: $63,000

Poverty rate: 12 percent

Explore more at homearea.com.

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