Gray, GA 31032 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Gray, GA—31032

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$271,000

1.5% YoY Growth

Household Income

$73,600

28.2% YoY Growth

Days on Market

19.0% Longer YoY

Home Price Forecast

2.2%

Median Rent

$895

58.6% YoY Growth

1-Bed Rent

$895

0.0% YoY Growth

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Gray, GA

As of Dec '25, the median home price in Gray, GA is $271,000, with a year-over-year change of 1.5%. This indicates that home prices in Gray, GA are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$271,000	1.5%
Single Family	$271,000	1.5%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Gray, GA

As of July '25, Rentcast reports the average rent in Gray, GA is $895, with a year-over-year rent change of -58.6%. Per bedroom, the median rent as of July '25 in Gray, GA is 1-bedrooms: $895. The most common rental property sizes in Gray, GA are 2-bedroom and 3-bedroom, accounting for 42.5% and 35.9% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$895	$895
Studio Rent	N/A	N/A
1 Bed Rent	$895	$895
2 Bed Rent	N/A	N/A
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

10.4%

2 Bedrooms

42.5%

3 Bedrooms

35.9%

4 Bedrooms

3.0%

5+ Bedrooms

8.3%

Property Listings — Gray, GA

As of Dec '25, Realtor.com reports that the median days on market for a home in Gray, GA is 89. This is a increase of 37.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$351,000	7.0%
Listing Count	52	17.0%
Listings as % of Homes	0.5%	17.0%
Days on Market	83	19.0%

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Demographics — Gray, GA

As of the latest ACS Survey released in 2023, Gray, GA has a population of 13,800, which has decreased by -9.0% over the past 5 years. Gray, GA is a moderately popular place for families, as children make up 21.1% of the population. The area has a poorly educated workforce, with 19.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.7% reporting working from home.

Metric	Latest Census	YoY % Change
Population	13,800	-9.0%
% Under 18	21.1%	-18.5%
% Seniors	19.4%	22.8%
% WFH	5.7%	111.1%
% w/ College Degree	19.5%	-13.3%

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As of the latest ACS Survey released in 2023, Gray, GA is a predominantly white area, with 76.9% of the population identifying as white. The white population has grown by 2.0% in the last 5 years. The second most common race or ethnicity in Gray, GA is black, making up 18.4% of the population. Foreign-born residents account for 1.7% of the population in Gray, GA, and this percentage has increased by 112.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	76.9%	2.0%
% Black	18.4%	-11.5%
% Hispanic	1.6%	-20.0%
% Asian	0.5%	150.0%
% Foreign Born	1.7%	112.5%

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Mortgage and Risk — Gray, GA

According to HUD data as of 2023, there were 296 mortgage originations in Gray, GA, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Gray, GA. Investor activity is low, as 7.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	296
% Conventional Loans	68.0%
% Government Loans	32.0%
% Investor Loans	7.0%
% Second Loans	1.0%
% Cash Out Refinance	13.0%

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Rentals and Section 8 — Gray, GA

Gray, GA lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	77
Total Units Section 8	77
% Rentals under Section 8	10.2%
% Occupied Section 8	74.4%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$105	$895	$1,000
2 Bedroom	N/A	N/A	$1,160
3 Bedroom	N/A	N/A	$1,400
4 Bedroom	N/A	N/A	$1,540

Gray, GA—31032

Key Metrics at a Glance

Home Price Trends — Gray, GA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Gray, GA

% of Rental Stock

Property Listings — Gray, GA

Demographics — Gray, GA

Race and Ethnicity

Mortgage and Risk — Gray, GA

Mortgages

Rentals and Section 8 — Gray, GA

Section 8 Market Size

Section 8 Opportunity

Affordability — Gray, GA

Home Price to Income Ratio

Gray, GA — ZIP Code Boundary Map

Nearby ZIP Codes

Macon, GA

Hillsboro, GA

Haddock, GA

Macon, GA

Macon, GA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.4
Median Home Price	$271,000
Median Household Income	$73,600

Gray, GA—31032

Key Metrics at a Glance

Home Price Trends — Gray, GA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Gray, GA

% of Rental Stock

Property Listings — Gray, GA

Demographics — Gray, GA

Race and Ethnicity

Mortgage and Risk — Gray, GA

Mortgages

Rentals and Section 8 — Gray, GA

Section 8 Market Size

Section 8 Opportunity

Affordability — Gray, GA

Home Price to Income Ratio

Gray, GA — ZIP Code Boundary Map

Nearby ZIP Codes

Macon, GA

Hillsboro, GA

Haddock, GA

Macon, GA

Macon, GA

Frequently Asked Questions

What is the average home price in Gray, GA 31032?

How have home prices in Gray, GA 31032 changed over the past year?

What is the home price projection for Gray, GA 31032?

What are the demographics of Gray, GA 31032?

How long does it take homes to sell in Gray, GA 31032?

What is the average rent price in Gray, GA 31032?