Housing
Vacancy - 13.1%
The Macon, GA Market ranks 46th in Vacancy across STI Markets with a Vacancy rate of 13.1%. That is 55,879 Vacant Housing units compared to 371,280 Occupied units.
Average Home Value - $293,146
The Average Home Value for owner occupied housing units in the Macon, GA Market is $293,146. This ranks 119th across STI Markets. Over the last 2 years there has been a change of 15.8% in this markets Average Home Value, compared to a national change of 9.9%. This 2 year change in home values ranks 31st across STI Markets.
Figure 55: Home Value 2year History
Mortgage Risk Level - Low
Mortgage Risk is defined as the ratio of recent residential loan amount to income for new home purchases. The Mortgage Risk for the Macon, GA Market is 2.9. The market subsequently ranks 89th across STI Markets. This is considered to be a Low level of mortgage risk.
Affordability Level - Accessible
Overall Affordability can be classified in a similar fashion, comparing the Markets Average Home Value with the Average Household Income. This Affordability ratio currently sits at 3.5. The Macon, GA Market therefore earns the Accessible classification for housing affordability and ranks 106th across STI Markets. The following chart shows how markets compare between these two measure. Note the breaks between affordability classifications are 3, 5, and 7.
Figure 60: Affordability Comparision
