Atlanta Housing Market Ranks in Bottom Third of Affordable Large Cities
Although Atlanta remains a very affordable city when compared to larger metro areas on the coasts, it ranks in the lowest one third of affordable cities when average household income is considered. According to figures released in 2019, the typical Atlanta homebuyer can expect to pay nearly 39% of his or her household income to buy an average priced home in the city. In contrast, homebuyers in Detroit can expect to pay only 13% of their household income to afford an average-priced home. Homebuyers in Los Angeles face the most daunting home buying expenses, however-- it would require over 90% of the typical buyer's household income to buy a home in the California city.
Relocating to the Atlanta area from a more expensive metro area and need a new home mortgage? Want to refinance an existing Georgia home loan? Contact Peachtree Mortgage Services, Inc. at peachmtg@bellsouth.net or 770.481.0052.
* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.