What’s in store for Georgia’s housing market in 2025? Here are our major predictions for Georgia’s real estate market next year:

• Home values are expected to grow modestly. Larger cities like Savannah, Athens, and Gainesville may see price increases of around 3%. Atlanta, the heart of the state’s housing market, will likely see a modest 1.5% increase. Columbus will also see modest price growth due to persistently low inventory and high demand. Smaller or more rural areas may not fare as well.
• The Georgia housing market is shifting to a more balanced market. In the Atlanta metro area, this is especially true. With inventory increasing, mortgage rates will likely stabilize around 5.5-6%. Buyers in the Atlanta region will likely find more options and a little more room to negotiate, although the market will remain competitive. In Columbus, high demand and limited supply will keep it a sellers’ market.
• Rents in Georgia might stabilize or see modest growth. While new apartment construction is increasing inventory, strong demand means landlords aren’t likely to offer significant discounts. In Columbus, rents are expected to keep climbing thanks to a low vacancy rate and limited new construction.

Below, we will break down the housing trends across the Peach State. We will discuss everything from home prices to population growth and buyer demand, providing a comprehensive look at the housing market in Georgia. While the data and insights below focus on real estate investing, real estate agents, home builders, buyers, and sellers will also find this information helpful. We will also share what’s happening in Atlanta and Columbus.

To bring you the most accurate Georgia real estate market predictions for 2025, we’ve gathered data from various reliable sources, including government agencies like the Census Bureau and the Bureau of Labor Statistics and housing market authorities like Zillow, Redfin, CBRE, and the Georgia Association of Realtors.

Below, we’ll explore key factors and trends for the real estate market in Georgia and how they will shape 2025.

As of July 2024, Georgia’s estimated population was 11.1 million, up 4.4 percent from the 2020 census base of 10.7 million. That’s impressive. But the growth doesn’t stop there. Georgia’s Governor’s Office of Planning and Budget projects that the population will reach 13 million by 2060.

Source: GOPB

Net migration is driving population growth. In 2024, the Peach State added 116,646 new people, the seventh-highest numeric population increase in the country. Of that number, 88,409 new residents arrived through net migration (domestic and international).

The influx of people makes sense, considering Georgia’s economy has been firing on all cylinders lately. Between the booming film industry, logistics hubs, manufacturing plants, and tech scene, the state is a significant draw for folks looking to relocate. The quality of life and low cost of living in many parts of Georgia also appeal to many people.

While Fulton County has the largest population in the state, with over a million residents, counties like Gwinnett, Cobb, and DeKalb have also become hubs. Many people are flocking to these areas, too.

United States Census Bureau data shows that Jackson (5.5%) and Dawson (5.1%) were Georgia’s fastest-growing counties between 2022 and 2023. The Atlanta metro area continues to be the fastest-growing in the state. Between April 2023 and April 2024, the Atlanta-Sandy Springs-Roswell region added 62,700 new residents.

The population surge is impacting the construction industry in Georgia’s housing market, and plenty of new housing units are being built to accommodate new residents. In 2023, over 63,000 building permits were issued, and 62,000 by November 2024.

Georgia’s Department of Labor reported that 46,000 new jobs were created, and 85,000 workers were added to the workforce in 2024. The sectors with the highest gains were health care, social assistance, hospitality, local and state government, and science and tech. The number of jobs is down from last year, but the unemployment rate of 3.7% is below the nation’s 4.4%.

Even with a slight job downtick, the state’s economy is resilient. That’s because it keeps adding new people due to domestic migration. This influx of people is sure to boost consumer spending. Another positive sign for Georgia’s economy is that the state is seeing investments in electric vehicles (EV) and general manufacturing, especially around metro Atlanta and Savannah.

Population growth has led to an increase in the state’s labor force. According to the U.S. Bureau of Labor Statistics, Georgia’s labor pool expanded from 5.39 million in June 2024 to around 5.42 million in October 2024. Non-farm employment in the state increased by 1.3% in October to around 4.98 million. But the state’s unemployment rate dropped from 3.3% in June to 3.7% in November. That implies that the labor force is growing faster than the available jobs.

In 2024, the leisure and hospitality sector was Georgia’s major driver of job growth. It saw a 3.6% job growth rate from last October to this October, and between May and October, this sector added about 9,900 new jobs. Education and health services came second, with a 3.3% year-over-year growth in October. It added 15,300 jobs between May and October.

While Georgia has seen some job growth—over 60,000 as of August 2024—the quality of these jobs is an issue. Much of the state’s job growth is in lower-wage sectors. In line with current national trends, the economic impact of this job growth might be weaker than expected.

The good news is that the state’s economy will improve in 2025 and 2026. Over the next two years, we might see more high-quality jobs created. Experts say over 71,000 jobs will be created in 2025 and 90,200 in 2026 (of which 24,800 will be premium jobs). Nominal personal income is also expected to grow by 5.6% in 2025 and 6% in 2026.

The housing market in Georgia has been active lately. According to Georgia Realtors®, in November, there was a 5% jump in the number of new listings, with 39,137 total units on the market, providing a 3.9 months supply of inventory. Pending sales were up by 4%, and closed sales increased by 1%, topping at 8,689 homes sold.

It’s no surprise that the suburbs around places like Atlanta and Savannah are heating up. With home prices skyrocketing in the city centers, many buyers are looking to the outskirts for more affordable options. This trend is particularly evident in the North Georgia housing market.

However, homes have generally been on the market for much longer these days than in previous years. The average number of days on the market went up by 46% to 57. That’s because there are way more homes available now. Inventory levels jumped by 34% compared to last year, reaching 39,137 housing units. With almost four months of supply, that’s starting to create more balance in the market.

And you know what is interesting? Home prices are still creeping up, but not nearly as dramatically as we’ve seen in the past. The median sales price went up 2% to $357,000, while the average sales price came in at 4% to $443,576.

Different parts of Georgia will likely see differing growth rates. Bigger cities like Savannah, Athens, and Gainesville are expected to continue seeing solid price growth. By August 2025, we’re talking about price growth of around 3.4%, 3.1%, and 3.1%, respectively. But some of the smaller, more rural areas, like Moultrie (-0.8%), Vidalia (-0.1%), and Americus (0.4%), might see prices dip a bit or only creep up very slowly.

From what we’re seeing, the Georgia property market outlook for 2025 is one of continued growth. However, the pace of growth would be moderate due to potential economic slowdowns and still-high interest rates.

Emerging Trends in Real Estate® Report ranks Atlanta at number seven for the top markets to watch. The strong growth prospects, pro-business climate, and the general appeal of Atlanta keep drawing in a lot of businesses and driving construction activity.

However, the downside is that housing is becoming less affordable for many people. Rising prices could soon impact future migration patterns and development trends in the area.

One significant development that could shape the Georgia housing market is the proposed Amendment 1, which would introduce a statewide homestead exemption. This exemption would cap annual increases in the assessed value of homes at the inflation rate.

Local governments can opt out of the statewide homestead exemption if they wish. However, they would have to follow specific procedures, such as holding public meetings so community members can weigh in. Because of this, property tax rates might vary across regions in Georgia.

Local governments can impose an extra 1% sales tax to compensate for the loss in property tax revenue from this homestead exemption. However, this increase would have to be approved by voters in each community through a referendum.

Georgia also recently passed House Bill 404, the Safe at Home Act, which aims to give renters more protection. The bill mandates that landlords ensure their properties are “fit for human habitation” when a new lease starts. They must also maintain the property for the duration of the tenancy. The Act also limits upfront rent payments and security deposits to no more than two months’ rent.

With its strong economy, steady population growth, and rising inventory, Atlanta remains one of the best real estate markets in Georgia. But it seems Atlanta’s real estate market will hit a rough patch before things start looking up again in 2025. So, what’s the forecast for 2025? Below, we break down trends and predictions for the state known as the Hollywood of the South.

According to the latest census numbers from July 2023, the Atlanta metro area is the biggest in Georgia and the sixth-largest metropolitan region in the country, home to over 6.12 million people. This metro area covers a massive amount of land (8,376 sq miles), about the same size as the entire country of Israel.

Atlanta is like a patchwork quilt of communities, with over 140 cities and towns. Many of these have recently been incorporated, following Sandy Springs’s incorporation in 2025. The metro area is part of an emerging megalopolis (a huge urban complex) known as the Piedmont Atlantic Megaregion along the I-85 Corridor.

While the metro area includes 29 counties, over 60% of the metro population lives within five counties: Fulton, Gwinnett, Cobb, DeKalb, and Clayton. The combined statistical area (CSA) includes 39 counties in North Georgia with a population of 6,930,423 as of the 2020 U.S. Census.

• Atlanta is home to many large companies, from Fortune 500 to small businesses. Major employers include Delta Air Lines, Emory University, Emory Healthcare, The Home Depot, Northside Hospital, and Piedmont Healthcare. Atlanta is also home to the headquarters of global companies like Coca-Cola and CNN.
• The latest job numbers for the Atlanta metro area are decent. As of October 2024, there were over 3.1 million nonfarm jobs, slightly higher than the 3.07 million jobs in October 2023. Though not a huge jump, this still represents steady growth.
• The leisure and hospitality industry was the biggest winner in terms of jobs, adding about 17,000 new jobs. That’s a 5.5% year-over-year increase in that sector, outpacing the national average of 1.4%.

• In terms of population, the Atlanta metro area has surpassed places like Washington, D.C., and Philly to become the sixth-biggest metro region in the country.
• In 2023, the metro area had a population of over 6.3 million.
• Between July 2022 and July 2023, it experienced 1% growth, adding about 69,000 new residents.

• The Atlanta, Georgia, housing market has finally started to show signs of balance for the first time since 2019.
• In September, Atlanta had 4.2 months of inventory. That’s a big increase from 2.5 months of inventory in September 2023.
• Housing market predictions for 2025 in Georgia suggest the Atlanta real estate market is expected to experience a moderate increase in median sale prices. With a current median sale price of $420,000 (4.9% YOY growth), as reported by Redfin in October, the market is still competitive.
• The increase in days on the market, from 32 to 57 days, indicates a slight shift towards a more balanced market.

Atlanta home prices are predicted to rise slightly next year. Zillow’s Atlanta real estate market forecast for 2025 suggests that the average home value could increase by 1.5% between September 2024 and September 2025. Housing inventory in Atlanta rose to 4.2 months in September. This consistent rise in inventory is likely to drive the market towards balance in 2025.

Mortgage rates are expected to stabilize around 5.5% to 6% next year, boosting buyer confidence. But even if rates drop below 5.5%, we won’t see as many bidding wars or the double-digit appreciation of previous years.

More Atlanta home sellers have to lower their asking prices to attract buyers. In July, 31.9% of listings reduced prices, the highest rate of price reductions for any July since 2018. With home prices and mortgage rates too high for many prospective buyers, sales are declining, and listings are spending more time on the market. That’s why we’re seeing more sellers lowering their asking prices.

As more homes come on the market and mortgage rates remain high, buyers have more options and fewer bidding wars.

Rents in Atlanta have been on a rollercoaster lately. As of December 2024, the median rent settled at around $2,000, a $60 decrease from last December. The Atlanta rental market has been quite active in terms of construction and rental demand.

During the second quarter of 2024, renters snapped up over 6,200 units. This absorption rate is the third highest for any quarter in the past decade. Demand is strong, but supply is also strong. There are around 28,000 new units currently in the pipeline. That’s equivalent to 5.4% of Atlanta’s existing inventory. Of course, with all that new construction going on, especially in the luxury apartment segment, occupancy rates have been declining.

Looking ahead, we think the Atlanta, Georgia, housing market will see some stability, if not modest, growth in 2025. With all the new apartment construction, there will be a lot more inventory coming online, which should help keep rents under control. Of course, demand remains strong, so we don’t anticipate any significant declines, either.

Significant construction activity is underway in Atlanta’s apartment rental market, which has pressured prices. While we might still see some price decreases in 2025, current trends indicate that rent prices are stabilizing.

The slight quarterly increases and decreasing vacancy rates indicate that once construction slows down, with the current absorption rates, we might see rents start to creep back up right from mid-2025.

This section will explore the key trends and statistics in the Columbus, Georgia, real estate forecast for 2025.

In the west-central part of Georgia, Columbus sits just a stone’s throw from the Alabama border in Muscogee County. With its strategic location along the Chattahoochee River, the city has long been a hub of industry, from its thriving textile mills to its crucial role in shipping and military manufacturing. It is home to Fort Benning (now Fort Moore), a major U.S. Army training facility.

The city has a rich history, including being the site of the final Confederate battle during the Civil War. After the war, Columbus witnessed rapid industrial and cultural development, which led to the establishment of Columbus College (now Columbus State University) and the Springer Opera House (the official state theater of Georgia).

Other attractions include the Coca-Cola Space Science Center, the National Infantry Museum, and the world’s largest urban whitewater rafting course.

• As Georgia’s second-largest city, Columbus is home to about 201,877 residents.
• When combined with nearby Alabama cities, the Columbus-Auburn-Opelika CSA (combined statistical area) has a population of about 564,000.
• Columbus has recently seen a population dip, declining about 2.4% since the 2020 census. As of 2023, the city’s population is just under 202,000, from 206,919 in 2020.
• Population in the broader metro area decreased to 323,768 in 2023 from 328,887 in 2020.

• The job market has been steadily improving, with a solid 1.2% job increase in total nonfarm employment over the past year as of this November. That month, the unemployment rate in the metro area was 4.3%, down from 4.7% in August.
• These employment gains suggest the Columbus metro area’s job market is starting to gather momentum. The two sectors with the highest growth are leisure and hospitality, with financial activities not far behind.

• Home prices in Columbus have been on the rise. The median list price hit $225,000 this past October, nearly 7% higher than the year before.
• It’s become a competitive housing market, with homes often getting multiple offers.
• The average Columbus home sells in just 17 days for about 3% below the asking price. Hot homes sell in just 4 days and for 1% above the asking price.

Attom Data recently ranked Columbus, Georgia, among the top 10 U.S. metros where institutional investors are snatching up homes. In Q3 2024, 9.8% of home sales in the metro area were to institutional investors. That’s a significant chunk of the market, showing that the Columbus housing market is attracting much interest.

Prices in the Columbus, GA-AL metro area have shot up since the start of the COVID-19 pandemic. The median list price for a home jumped 42.6% in the last few years, going from around $182,000 in March 2020 up to $259,000 in July 2024. That’s a considerable increase, showing how strong and fast-paced the region’s real estate recovery has been.

Moreover, housing inventory in the area has been decreasing. Between October and November, the number of homes for sale dropped by 6.5%. This scarcity might continue into 2025, so prices may keep increasing.

Generally speaking, we’ve noticed that markets with low or decreasing inventory, strong economic fundamentals, and affordability are more likely to offer strong cash flow potential. On the other hand, markets with high population growth but increasing inventory (as is the case for many Sun Belt markets) and strong economic fundamentals still remain great markets for future appreciation.

The Columbus, Georgia, housing market is very competitive right now. Homes are getting multiple offers, and some buyers are even waiving things like home inspections just to try and get their foot in the door. Homes are selling fast. As of November 2024, homes were going pending in just 17 days. Hot properties take just four days to sell.

From what we’re seeing, the Columbus housing market will stay competitive next year, too. With mortgage rates expected to come down a bit and not a lot of homes for sale, it’s easy to predict that home prices will keep increasing in the area, even if it’s just a modest increase.

As of July, rents in the Columbus metro area were up 6.4% year over year. This increase is slightly lower than the national average for July, but it’s still a big jump from what we saw in this area before the pandemic.

The Columbus, Georgia, housing market is attractive to investors because of its affordability—rental properties average $100k to $130k—far less than Atlanta. Moreover, Zillow reports that the current rental rate in the area is $995. The area offers higher cap rates than the national average, which means investors can get better returns on their investments here. Plus, with the area’s strong rental demand, rents might continue to increase.

There aren’t many new apartment buildings going up in Columbus anytime soon. And the vacancy rate in the area is currently low at just 3.7%. So it’s a pretty safe bet that landlords will keep raising rents over the next few years to keep up with demand.

Columbus’ short-term rental market is booming. Airbnb or VRBO has an occupancy rate of around 60% occupancy rate, which is higher than some big cities.

Apart from this, the average home value in Columbus is around $161,000, which is way lower than in many other markets. Combine that with the fact that RevPAR (revenue per available room) has been growing by about 5% per year, and you’ve got a prime location for a vacation rental investment.

The area is a popular tourist destination, with an estimated 2 million visitors in 2023. One of its main attractions is the Chattahoochee River. Of course, families come to Fort Moore for the big military graduations. The city expects the number of tourists to hold steady or keep growing in the next few years.

The Georgia housing market shows several positive trends that attract real estate investors, including a growing population, a robust job market, and increasing home values. Some key factors to consider are new regulations, inventory levels, and rents. To make a sound decision about your next investment property, do your due diligence and dive into the data for that location.

If you are considering investing in the Georgia real estate market, join RealWealth today for free! As a member, you’ll have access to all of our resources, including a direct connection to the turnkey property team we work with selling single family rental investment properties in Georgia. Plus, our investment counselors are only a call away if you have any questions about investing in The Peach State.