DECEMBER 12TH, 2018

Georgia Mortgages

The housing market in Georgia is a strong and vital one,  following the recent trends towards growth and development. There were a total of 3,006,369 housing units in the state of Georgia according to the 2000 US census. The state has a large and robust housing market, although the price of homes remains stable and very near to the national average. The median value of an owner occupied home in Georgia stated by the 2000 census was $111,200. This fits in just under the national average that year of $119,600 dollars. While the median value of a home in Georgia is under the national average, the median household income is above. The national average for the median household income in 1999 was $41,994, while the median household income in Georgia that year was $42,433. This above average income and below average cost of houses contributes to the above average percentage of home ownership. According to the 2000 census, home ownership in Georgia was at 67.5%, slightly above the national average of 66.2%. The housing market in Georgia has been fairly stable, and this accounts for the evidenced lack of statistical variation from the national average.

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Finding a home in Georgia is going to get easier. In 2003, the US census found that Newton County, Georgia was one of the nation’s fastest growing communities. Quickly recognizing its growth potential, the Atlanta Regional Commission awarded the community a $100,000 Livable Center Initiative grant last year. The grant was used to study the best ways to rehabilitate and enhance U.S. Highway 278, an important community corridor and key to continued growth.

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Building on Livable Center Initiative study data obtained to date, the Covington-Newton County team outlined two major objectives in its Signature Community application. Those goals are focused on creating an improved live/work/play environment for Covington and Newton County citizens and visitors. This will be addressed by the Community Development and Finance, Housing Finance and Planning and Environmental Management divisions and other state agency program partners that will work closely with the community to provide the technical assistance required to attain the identified goals and reach a satisfactory outcome; A highly attractive place to live.

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