Overview
Georgia combines Southern charm with a booming economy centered on Atlanta, one of the nation's most dynamic metros. The state offers diverse options from urban Atlanta condos to coastal Savannah historic homes to mountain retreats. Georgia's business-friendly environment and major airport hub have attracted corporate headquarters and population growth.
Georgia Real Estate Market
Atlanta has been one of the fastest-growing metros in the nation, with suburban areas like Alpharetta, Johns Creek, and Marietta seeing strong appreciation. The city offers relative affordability compared to other major metros while providing Fortune 500 employers and diverse industries. Savannah's historic district commands premiums, while coastal Georgia offers vacation home opportunities.
Property Taxes in Georgia
Georgia property taxes are below the national average with a homestead exemption.
Average effective rate: 0.92%
Annual tax on median home: ~$3,266
Homestead exemption: Varies by county, typically $2,000-$10,000
First-Time Buyer Programs
Georgia Dream Programs:
- Georgia Dream Homeownership Program - Below-market rates
- Down Payment Assistance - Up to $10,000
- PEN and CHOICE programs for specific professions
- Mortgage Credit Certificate available
Closing Costs in Georgia
Georgia closing costs are moderate, typically 2-3% of purchase price.
Common costs include:
- Title insurance: Based on purchase price
- Transfer tax: $1 per $1,000 state + local additions
- Intangible tax: $1.50 per $500 of loan
- Recording fees: County-dependent
Frequently Asked Questions
Atlanta offers strong job growth, diverse economy, and more affordable housing than coastal metros. The city has excellent healthcare, education, and cultural amenities. Traffic congestion is a significant consideration for commuters.
Savannah offers historic charm, walkability, and coastal access at lower prices than Atlanta. The tourism-driven economy provides different opportunities and risks. Historic district homes command premiums and may have renovation restrictions.
Georgia Dream is the state's primary first-time buyer assistance program, offering below-market interest rates and down payment assistance up to $10,000 for qualifying buyers.