Total monthly cost of ownership
Cost to Own a Home in Fayetteville, Georgia
A $332,000 home here costs
$2,694per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $115,500 a year.
A standard mortgage calculator would have told you $1,810. The real number is $884 higher every month, 49% more than the payment most buyers budget for.
Compare Fayette 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.
Fayetteville against Fayette County and Georgia
| Measure | Fayetteville | Fayette County |
|---|---|---|
| Median home value | $331,700 | $405,600 |
| Median property tax | $2,690 | $3,168 |
| Effective tax rate | 0.811% | 0.781% |
| Median gross rent | $1,592 | $1,787 |
| Population | 19,364 | 120,689 |
The weather behind that power bill
Fayetteville sits in Fayette County, which averages a high of 91.0°F in its hottest month and a low of 34.1°F in its coldest, with 49.3" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,945 cooling and 2,587 heating degree days, which is what sets the $171 electricity line above.
See the full climate breakdown for Fayette County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Fayette County
Full Fayette County cost breakdown · Every county in Georgia
Talk to someone who works this market
These are Fayetteville 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 Fayetteville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Fayetteville I already own here and may sell
Common questions
How much does it cost to own a home in Fayetteville?
A $332,000 home in Fayetteville, Georgia costs approximately $2,694 per month with 20% down at 7.24%. That is $1,810 principal and interest, $224 property tax, $144 homeowners insurance, $239 utilities and $277 set aside for maintenance.
What is the property tax rate in Fayetteville?
Fayetteville has an effective property tax rate of 0.811%, based on a median home value of $331,700 and median real estate taxes of $2,690. That is higher than the Fayette County average of 0.781%.
What is the average home price in Fayetteville?
The median owner-occupied home value in Fayetteville, Georgia is $331,700, against $405,600 across Fayette County.
Is it cheaper to rent or buy in Fayetteville?
Median gross rent in Fayetteville is $1,592 a month, against $2,694 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 Fayetteville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Fayetteville, Georgia at today's rate takes a household income of roughly $115,500 a year. That covers the full $2,694 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Fayetteville, 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.