Milledgeville, GA 31061 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Milledgeville, GA—31061

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$239,000

3.7% YoY Growth

Household Income

$55,400

39.7% YoY Growth

Days on Market

0.0% Longer YoY

Home Price Forecast

1.4%

Median Rent

$1,100

9.6% YoY Growth

1-Bed Rent

$700

19.6% YoY Growth

2-Bed Rent

$985

5.5% YoY Growth

3-Bed Rent

$1,500

11.7% YoY Growth

Home Price Trends — Milledgeville, GA

As of Dec '25, the median home price in Milledgeville, GA is $239,000, with a year-over-year change of 3.7%. This indicates that home prices in Milledgeville, GA are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$239,000	3.7%
Single Family	$240,000	3.9%
Condos	$218,000	5.3%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Milledgeville, GA

As of July '25, Rentcast reports the average rent in Milledgeville, GA is $1,220, with a year-over-year rent change of -9.6%. Per bedroom, the median rent as of July '25 in Milledgeville, GA is 1-bedrooms: $724, 2-bedrooms: $1,040, 3-bedrooms: $1,430, 4-bedrooms: $1,620. The most common rental property sizes in Milledgeville, GA are 2-bedroom and 3-bedroom, accounting for 43.5% and 29.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,100	$1,220
Studio Rent	N/A	N/A
1 Bed Rent	$700	$724
2 Bed Rent	$985	$1,040
3 Bed Rent	$1,500	$1,430
4 Bed Rent	$1,650	$1,620

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% of Rental Stock

Studio

3.5%

1 Bedroom

10.3%

2 Bedrooms

43.5%

3 Bedrooms

29.8%

4 Bedrooms

8.3%

5+ Bedrooms

4.5%

Property Listings — Milledgeville, GA

As of Dec '25, Realtor.com reports that the median days on market for a home in Milledgeville, GA is 77. This is a increase of 10.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$326,000	-7.0%
Listing Count	185	22.0%
Listings as % of Homes	0.6%	22.0%
Days on Market	95	0.0%

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Demographics — Milledgeville, GA

As of the latest ACS Survey released in 2023, Milledgeville, GA has a population of 41,200, which has decreased by -5.9% over the past 5 years. Milledgeville, GA is a moderately popular place for families, as children make up 18.6% of the population. The area has a moderately educated workforce, with 26.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.

Metric	Latest Census	YoY % Change
Population	41,200	-5.9%
% Under 18	18.6%	-2.1%
% Seniors	16.7%	16.8%
% WFH	6.7%	272.2%
% w/ College Degree	26.0%	20.4%

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As of the latest ACS Survey released in 2023, Milledgeville, GA is a predominantly white area, with 50.5% of the population identifying as white. The white population has shrunk by 3.4% in the last 5 years. The second most common race or ethnicity in Milledgeville, GA is black, making up 42.8% of the population. Foreign-born residents account for 2.6% of the population in Milledgeville, GA, and this percentage has decreased by 3.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	50.5%	-3.4%
% Black	42.8%	1.2%
% Hispanic	2.8%	27.3%
% Asian	1.8%	12.5%
% Foreign Born	2.6%	-3.7%

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Mortgage and Risk — Milledgeville, GA

According to HUD data as of 2023, there were 465 mortgage originations in Milledgeville, GA, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Milledgeville, GA. Investor activity is low, as 14.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	465
% Conventional Loans	71.0%
% Government Loans	29.0%
% Investor Loans	14.0%
% Second Loans	5.0%
% Cash Out Refinance	15.0%

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Rentals and Section 8 — Milledgeville, GA

As of 2024, the percent of homes in Milledgeville, GA under the Section 8 program is 9.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Milledgeville, GA, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	575
Total Units Section 8	557
% Rentals under Section 8	9.9%
% Occupied Section 8	77.6%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$200	$700	$900
2 Bedroom	$55	$985	$1,040
3 Bedroom	-$240	$1,500	$1,260
4 Bedroom	-$80	$1,650	$1,570

Milledgeville, GA—31061

Key Metrics at a Glance

Home Price Trends — Milledgeville, GA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milledgeville, GA

% of Rental Stock

Property Listings — Milledgeville, GA

Demographics — Milledgeville, GA

Race and Ethnicity

Mortgage and Risk — Milledgeville, GA

Mortgages

Rentals and Section 8 — Milledgeville, GA

Section 8 Market Size

Section 8 Opportunity

Affordability — Milledgeville, GA

Home Price to Income Ratio

Milledgeville, GA — ZIP Code Boundary Map

Nearby ZIP Codes

Haddock, GA

Gordon, GA

Sparta, GA

Sandersville, GA

Gray, GA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4
Median Home Price	$239,000
Median Household Income	$55,400

Milledgeville, GA—31061

Key Metrics at a Glance

Home Price Trends — Milledgeville, GA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milledgeville, GA

% of Rental Stock

Property Listings — Milledgeville, GA

Demographics — Milledgeville, GA

Race and Ethnicity

Mortgage and Risk — Milledgeville, GA

Mortgages

Rentals and Section 8 — Milledgeville, GA

Section 8 Market Size

Section 8 Opportunity

Affordability — Milledgeville, GA

Home Price to Income Ratio

Milledgeville, GA — ZIP Code Boundary Map

Nearby ZIP Codes

Haddock, GA

Gordon, GA

Sparta, GA

Sandersville, GA

Gray, GA

Frequently Asked Questions

What is the average home price in Milledgeville, GA 31061?

How have home prices in Milledgeville, GA 31061 changed over the past year?

What is the home price projection for Milledgeville, GA 31061?

What are the demographics of Milledgeville, GA 31061?

How long does it take homes to sell in Milledgeville, GA 31061?

What is the average rent price in Milledgeville, GA 31061?