Waycross, GA—31503
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Waycross, GA
Home Price Trends — Waycross, GA
As of Oct '25, the median home price in Waycross, GA is $165,000, with a year-over-year change of -5.3%. This indicates that home prices in Waycross, GA are decreasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $165,000 | -5.4% |
| Single Family | $165,000 | -5.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $74,000 | -8.6% |
3 Bed | $196,000 | 0.5% |
4 Bed | $265,000 | 1.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Waycross, GA
As of July '25, Rentcast reports the average rent in Waycross, GA is $1,130, with a year-over-year rent change of -3.4%. Per bedroom, the median rent as of July '25 in Waycross, GA is 1-bedrooms: $625, 2-bedrooms: $1,030, 3-bedrooms: $1,310, 4-bedrooms: $1,600. The most common rental property sizes in Waycross, GA are 3-bedroom and 2-bedroom, accounting for 47.9% and 41.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,130 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $625 | $625 |
| 2 Bed Rent | $950 | $1,030 |
| 3 Bed Rent | $1,280 | $1,310 |
| 4 Bed Rent | $1,600 | $1,600 |
% of Rental Stock
Property Listings — Waycross, GA
As of Oct '25, Realtor.com reports that the median days on market for a home in Waycross, GA is 64. This is a increase of 11.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $237,000 | 17.0% |
Listing Count | 75 | 41.0% |
| Listings as % of Homes | 0.4% | 41.0% |
Days on Market | 64 | 11.0% |
Demographics — Waycross, GA
As of the latest ACS Survey released in 2023, Waycross, GA has a population of 23,200, which has increased by 12.4% over the past 5 years. Waycross, GA is a moderately popular place for families, as children make up 24.0% of the population. The area has a poorly educated workforce, with 12.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,200 | 12.4% |
% Under 18 | 24.0% | -7.7% |
% Seniors | 14.6% | -11.0% |
% WFH | 4.8% | 128.6% |
% w/ College Degree | 12.3% | -6.8% |
As of the latest ACS Survey released in 2023, Waycross, GA is a predominantly white area, with 68.1% of the population identifying as white. The white population has shrunk by 11.0% in the last 5 years. The second most common race or ethnicity in Waycross, GA is black, making up 20.9% of the population. Foreign-born residents account for 3.6% of the population in Waycross, GA, and this percentage has increased by 5.9% 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 | 68.1% | -11.0% |
% Black | 20.9% | 33.1% |
% Hispanic | 6.8% | 13.3% |
% Asian | 1.7% | 30.8% |
% Foreign Born | 3.6% | 5.9% |
Mortgage and Risk — Waycross, GA
According to HUD data as of 2023, there were 197 mortgage originations in Waycross, GA, of which 61.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Waycross, GA. Investor activity is low, as 6.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 197 |
% Conventional Loans | 61.0% |
% Government Loans | 39.0% |
% Investor Loans | 6.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Waycross, GA
As of 2024, the percent of homes in Waycross, GA under the Section 8 program is 2.2%. 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. In Waycross, GA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 187 |
Total Units Section 8 | 44 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | 62.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $245 | $625 | $870 |
| 2 Bedroom | $80 | $950 | $1,030 |
| 3 Bedroom | $40 | $1,280 | $1,320 |
| 4 Bedroom | $40 | $1,600 | $1,640 |
Affordability — Waycross, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $165,000 |
| Median Household Income | $55,000 |