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Three Georgia counties have the cheapest homes in America

Like most of metro Atlanta, Clayton County is enjoying robust homes sales and rising house prices in spite of the coronavirus pandemic. But that news is both blessing and curse. Clayton, which has some of the cheapest home prices in the region, is being targeted by investors who are buying with cash and . turning hundreds of properties into rental units. And because they have money to burn, the investors are forcing prices to rise in a community that has been disproportionately impacted by the pandemic. The challenges come as Clayton has struggled the most in metro Atlanta with the COVID-19 pandemic. Its unemployment rate at 7.9% is the highest in the region and it has a poverty rate of about 20%. The Clayton County Commission earlier this month set aside $1 million in Coronavirus Aid, Relief, and Economic Security Act to try to . head off what members fear could be a surge in families without a roof over their heads if a national moratorium on evictions is not extended past its Dec. 31 end date
By Kiersten Willis
Aug 19, 2021

News about increasing home prices seems to have dominated headlines this year. But not every place has seen high-priced homes.

24/7 Wall St. analyzed data from ATTOM Data Solutions’ first-quarter 2021 U.S. Home Affordability Report. The financial news and opinion website defined the cheapest homes by ranking counties on the annual wages compared to housing costs of a median-priced home. The Bureau of Labor Statistics provided data on income based on annualized weekly wages.

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Three Georgia counties made the list.

Richmond County - No. 21

According to the U.S. Census Bureau, Richmond County has 202,000 residents. There are nearly 90,000 housing units and 71,000, households. Data from ATTOM show residents need 12.6% of annual wages to afford average monthly housing costs. The Q1 median home price is $119,000 and wages total $49,426 annually.

Clayton County - No. 18

The Census Bureau says Clayton County has a population of 292,000. The county has 106,000 housing units and 94,000 households. People in the county require 12.4% of annual wages to afford median monthly housing prices. On average, Q1 homes cost $150,000. Weekly wages total $62,036 a year.

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Bibb County - No. 2

Bibb County is home to 153,000 residents, the Census Bureau said. There are 70,000 housing units and 58,000 households. Residents need just 8.3% of annual wages to afford median monthly housing prices. In Q1, that amounted to $71,000. Weekly wages add up to $46,020 for the year.

About the Author

Kiersten Willis is a native advertising specialist at the AJC.

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