While the country continues to see the effects of an improving economy and low unemployment rates, the recovery is less than ideal for those who want to purchase a home. Homebuyers are up against an increasingly expensive market, with the median home price around $300,000 — over $100,000 more than the median price 10 years ago.
The median home price in different areas of the country varies widely, and a recent study by 24/7 Wall St. analyzed median home values from 3,119 counties across the country according to 2017 second quarter data from the National Association of Realtors.
In Georgia, Forsyth County was the most expensive housing market, with a median home price of $346,839. The median household income in Forsyth was $91,842, compared to $53,559 for the state of Georgia.
The median mortgage payment in Forsyth was $1,402, and 0.9 percent of homes were valued at over $1 million at the time of the study.
Georgia’s housing market continues to grow more expensive — according to data from March 2018, home prices in Atlanta grew by 7.6 percent to $268,000 from last year.