Georgia has the eighth-worst disparity between wage growth and housing price growth, according to a state-by-state analysis by commercial real-estate marketplace MyEListing.
Wages have grown 22.7 percent in Georgia during the past five years, while housing prices increased 47.53 percent, the report says. The resulting 24.8 percent gap is lower than in Tennessee and Florida, but considerably higher than Alabama and South Carolina. The national average is 15 percent.
Wages rose $12,150 in actual dollars in Georgia between 2018 and 2022, while housing prices rose $107,500, the report states. In Georgia, housing prices outpaced wages by $95,350, the analysis says.
"The pursuit of affordable housing remains a critical issue for many Americans," MyEListing says. "Addressing the housing-wage growth gap is crucial for ensuring that residents can build wealth through homeownership, while maintaining a reasonable standard of living."
An report earlier this from MyEListing said Atlanta has had some of the nation's largest wealth gains from homeownership, increasing by 109 percent during the past five years.
