Milledgeville, GA—31061
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Milledgeville, GA
As of Oct '25, the median home price in Milledgeville, GA is $240,000, with a year-over-year change of 3.2%. This indicates that home prices in Milledgeville, GA are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $240,000 | 3.2% |
| Single Family | $241,000 | 3.4% |
| Condos | $218,000 | 5.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $143,000 | 4.4% |
3 Bed | $247,000 | 4.7% |
4 Bed | $375,000 | 5.0% |
| 5 Bed | $556,000 | 4.9% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Milledgeville, GA
As of Oct '25, Realtor.com reports that the median days on market for a home in Milledgeville, GA is 77. This is a increase of 19.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $367,000 | -1.0% |
Listing Count | 195 | 24.0% |
| Listings as % of Homes | 0.6% | 24.0% |
Days on Market | 77 | 19.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Milledgeville, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $240,000 |
| Median Household Income | $55,400 |