Local

Atlanta Median Home Prices Lag Behind National Average

July 11th, 2013

The median price for a metro Atlanta home was $150,000 two years ago.

So what does that mean today?

The Department of Housing and Urban Development and the U.S. Census Bureau delved into American housing prices and quality in 29 metro areas.

Atlanta’s median price, $150,000, was ten thousand below the average median price nationwide, $160,000.

But HUD’s Shawn Bucholtz says you likely wouldn’t see that figure if you took a snapshot today. “When we were collecting our data in 2011, we were doing so in the summer and early fall,” said Bucholtz. “And that just happened to coincide with the low point of housing prices and home value. They’ve since started to rebound, so we should see home values start to rebound as well.”

Even though Atlanta’s housing price was lower, the median total monthly cost of housing was $200 a month higher than the national figure, $1200 versus $1000 monthly, the total cost calculated as mortgage or rent plus utilities and real estate taxes.

On quality, questions included: does your home have a fireplace? Does it have air conditioning? Have you seen a mouse or rat in your home in the last year? 13% nationwide said yes. You will be glad to know that in metro Atlanta, it was only 6%.