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Augusta Ranks High in Housing Affordability for Buyers

A view of Augusta's neighborhoods illustrating the appeal of affordable housing.

News Summary

A recent WalletHub report has ranked Augusta, Georgia as one of the most affordable cities for home buyers, spotlighting its impressive cost of living and housing availability. Despite a significant rise in home sales prices, Augusta maintains its appeal with strong rankings in various affordability categories. City officials are also considering measures to promote single-family home development to address housing demand. Additionally, plans for a project to build affordable housing on the site of a former police station aim to further bolster the city’s housing options, catering to residents in need.

Augusta, Georgia has been identified as one of the most affordable cities for home buyers, according to a recent report released by WalletHub. Despite ongoing increases in housing prices, Augusta’s overall affordability remains appealing, particularly for new home purchasers looking for budget-friendly options in an ever-changing market.

The report analyzed 300 cities across the United States, and Augusta ranked distinctly among them. The city placed 23rd in Housing Affordability, 4th in Cost of Living, 21st in Cost per Square Foot, 17th in Rent-to-Price Ratio, and 146th in Median Home-Price Appreciation. Additionally, Augusta ranked 8th in Vacancy Rate, which suggests a healthy availability of housing options for potential buyers.

In the context of the housing market, the median home sales price in Augusta increased significantly, rising from $313,000 in the first quarter of 2019 to $416,900 by the first quarter of 2025. Despite this increase, the city has effectively maintained its affordability status, making it an attractive choice for home buyers. Combining these affordability factors, Augusta is ranked 8th overall among all cities studied and 2nd among midsize cities.

The WalletHub evaluation took into account ten critical factors, such as home prices, maintenance costs, tax rates, and vacancy rates, providing a comprehensive overview of housing affordability across the U.S. This holistic approach underscores Augusta’s strength in maintaining a favorable environment for home buyers.

City officials have recently considered implementing a moratorium on apartment construction, specifically limiting new development to the downtown business district. This initiative aims to promote single-family home development within the community, addressing the growing demand for such residences. Mayor Garnett Johnson has expressed support for creating additional single-family homes and affordable housing to meet local needs.

Currently, Augusta is witnessing a surge in multi-family housing developments, which some city leaders believe could strain local infrastructure and services. This dilemma highlights the need for a balanced housing strategy that encompasses both multi-family and single-family units to promote sustainable growth.

In a related development, the Developers Collaborative of Portland has announced plans to build approximately 100 units of affordable housing on the site of the former Augusta Police station. The proposed project will include a mix of senior housing and family units, with the potential for onsite childcare facilities. The developer is set to purchase the property from the city for $500,000.

This project aims to offer rental housing options for individuals earning 60% or less of the area median income, which is estimated to be around $36,540 for a single-person household in Kennebec County. The project represents an effort to expand Augusta’s affordable housing stock, allowing more residents to access housing that fits within their budgets.

City Manager Jared Mills noted that the development could significantly enhance the availability of affordable housing in Augusta. The dynamics of the local housing market indicate a pressing need to strike a balance between multi-family and single-family housing solutions to support the community’s growth and accommodate future needs.

Ultimately, Augusta stands out as a place where affordability coincides with rising prices, making it an important market for both new and current residents navigating the complexities of the housing landscape.