Starting values: $343,300, which is the Georgia median (25th of 51), 20% down and a 7.40% rate. Monthly cost: $2,265.55 ($1,901.55 loan, $211.67 property tax, $152.33 homeowners insurance). Put 5% down and add PMI and it rises to $2,757.98.
Homestead exemptions and property tax relief
Every owner-occupant can claim the statewide $2,000 homestead exemption from assessed value (Georgia assesses at 40% of fair market value). Many counties and school systems add much larger local exemptions. You apply with the county tax assessor; a home you own and live in on January 1 can be claimed for that year, and the usual deadline is April 1.
First-time buyer programs
The Department of Community Affairs runs Georgia Dream, a first mortgage for first-time buyers (or anyone who has not owned in three years). Georgia Dream Standard provides 5% of the price or $10,000, whichever is less, as a 0% deferred second loan repaid at sale or refinance. You need homebuyer counseling and at least $1,000 of your own funds. The price limits updated July 8, 2026 are $625,000 in metro Atlanta, $525,000 around Athens and $475,000 elsewhere, and public protectors, educators, nurses and military buyers can get 6% (up to $12,500) through Georgia Dream PEN.
Transfer and recording taxes
The state transfer tax is $1 for the first $1,000 and $0.10 per $100 after that, about $343 on a $343,300 home, and the seller customarily pays it. The buyer pays the intangible recording tax on the mortgage, $1.50 per $500 of the loan (capped at $25,000), or about $825 on a $274,640 loan.
Closing costs to plan for
Georgia is an attorney-closing state, so a closing attorney's fee is standard. Add the intangible tax, lender fees and title insurance, plus prepaid escrow.
When property tax bills are due
Georgia counties set their own due dates; many bill in the late summer or fall with a single due date, and some split the bill into two installments. Your county tax commissioner's website lists the date.
Before you buy in Georgia
File for the homestead exemption with the county tax commissioner or, in some counties, the tax assessor. You must own and live in the home as your legal residence on January 1 of the tax year. At closing, the state transfer tax is $1 for the first $1,000 of price and $0.10 for each additional $100, and the intangible recording tax on the new mortgage is $1.50 per $500 of the loan, capped at $25,000.
2026 loan limit in Georgia
FHFA 2026 one-unit conforming limits: no county is high-cost, so $832,750 applies statewide. So $274,640, the 80% loan on a median home, needs no jumbo financing.
Georgia numbers used above
| Measure | Georgia | U.S. |
|---|---|---|
| Median home value (ACS 2024) | $343,300 | $360,600 |
| Effective property tax rate | 0.74% (28th highest) | 0.89% |
| Average HO-3 premium (NAIC 2023) | $1,828 | $1,737 |
| Median household income | $79,991 | $81,604 |
| Median gross rent | $1,506 | $1,487 |
| Income needed at 28% (20% down) | $97,095 | – |
Frequently asked questions
When is the Georgia homestead deadline?
Usually April 1 for a home you owned and lived in on January 1.
What is the median-home payment in Georgia?
About $2,265.55 a month on a $343,300 home with 20% down at 7.40%, including tax and insurance.
What income do lenders want for that?
Roughly $97,095 a year under the 28% rule, or $118,199 with 5% down and PMI.
How does Georgia insurance compare?
The 2023 average HO-3 premium was $1,828, above the $1,737 U.S. average.
Sources
- Georgia DOR, homestead exemptions
- Georgia DOR, real estate transfer tax
- Georgia DOR, intangible recording tax
- Georgia DCA, Georgia Dream
- Georgia DOR, homestead exemptions
- Georgia DOR, real estate transfer tax
- Georgia DOR, intangible recording tax
- FHFA, 2026 conforming loan limits
- Census ACS 2024 1-year (B25077, B25103, B19013, B25064); NAIC homeowners report (2023); Freddie Mac PMMS.
See also: all states · house affordability · Georgia paycheck