Total monthly cost of ownership
Cost to Own a Home in Atlanta, Georgia
A $421,000 home here costs
$3,447per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $147,500 a year.
A standard mortgage calculator would have told you $2,332. The real number is $1,115 higher every month, 48% more than the payment most buyers budget for.
Compare Fulton County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Atlanta against Fulton County and Georgia
| Measure | Atlanta | Fulton County |
|---|---|---|
| Median home value | $420,600 | $431,200 |
| Median property tax | $4,061 | $3,847 |
| Effective tax rate | 0.966% | 0.892% |
| Median gross rent | $1,617 | $1,635 |
| Population | 499,287 | 1,068,507 |
Atlanta extends across 2 counties. Figures here use Fulton County, where most of its housing sits.
The weather behind that power bill
Atlanta sits in Fulton County, which averages a high of 90.0°F in its hottest month and a low of 33.5°F in its coldest, with 48.13" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 1,826 cooling and 2,775 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Fulton County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Fulton County
Talk to someone who works this market
These are Atlanta averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Atlanta every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in Atlanta?
A $421,000 home in Atlanta, Georgia costs approximately $3,447 per month with 20% down at 7.4%. That is $2,332 principal and interest, $339 property tax, $183 homeowners insurance, $243 utilities and $351 set aside for maintenance.
What is the property tax rate in Atlanta?
Atlanta has an effective property tax rate of 0.966%, based on a median home value of $420,600 and median real estate taxes of $4,061. That is higher than the Fulton County average of 0.892%.
What is the average home price in Atlanta?
The median owner-occupied home value in Atlanta, Georgia is $420,600, against $431,200 across Fulton County.
Is it cheaper to rent or buy in Atlanta?
Median gross rent in Atlanta is $1,617 a month, against $3,447 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Atlanta?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Atlanta, Georgia at today's rate takes a household income of roughly $147,500 a year. That covers the full $3,447 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Atlanta, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Georgia.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.