Estimate your monthly mortgage payment in Georgia — principal & interest plus Georgia property tax and homeowner’s insurance.
Buying a home in Georgia: what to know
A buyer’s market in Sep 2026 (~9.1 months of supply, ~73 days on market, Houzeo); values have softened year over year statewide (-1.5% YoY) and in Atlanta (-1.6% YoY per Zillow’s Sept report), giving buyers negotiation room, while Atlanta’s job/population growth sustains demand. With a median home price of $330,817 (Zillow ZHVI (statewide benchmark, cited in county reporting), Aug 2026 (-1.5% YoY)), 20% down means borrowing about $264,654 — within the 2026 conforming limit of $832,750 for most Georgia counties. Property taxes run about 0.79% of assessed value (effective rate), and insurance averages $1,655 a year statewide — both baked into the calculator above. First-time buyers should check out Georgia Dream Homeownership Program and Georgia Dream Peach Advantage before shopping lenders.
Georgia mortgage facts
| Fact | Figure |
|---|---|
| 2026 conforming loan limit (1-unit) | $832,750 |
| Median home price | $330,817 |
| Median effective property tax rate | 0.79% |
| Average homeowner’s insurance | $1,655/year |
Data as of October 2026. Sources: FHFA (2026 conforming limits), Zillow ZHVI (statewide benchmark, cited in county reporting) (Aug 2026 (-1.5% YoY)), Tax Foundation (Facts & Figures 2026, 2024 ACS data, effective rate on owner-occupied housing) (2024 (published Mar 2026)), NAIC (via Insurance Information Institute, HO-3 owner-occupied average premium) (2022 (data year; latest published by III/NAIC)); rate: 7.40% (Freddie Mac PMMS, week ending October 15, 2026)
Georgia first-time buyer programs
- Georgia Dream Homeownership Program — DCA (Dept. of Community Affairs) 30-year fixed-rate first mortgage plus down payment assistance of 5% of price up to $10,000 as a 0%-interest second mortgage with no monthly payment (repaid on sale/refinance); PEN/CHOICE option up to $12,500 for protectors, educators, nurses, veterans, or households with a disability. Official site
- Georgia Dream Peach Advantage — A grant (not a loan) of 2%-5% of the first mortgage amount toward down payment, available to BOTH first-time and repeat buyers using conventional loans. Official site
How to use this calculator
Start with Georgia’s median home price (pre-filled above) or type the price of a home you’re eyeing. The calculator assumes 20% down — the threshold that avoids private mortgage insurance on conventional loans — and applies Georgia’s median property tax rate and average insurance premium so the monthly figure reflects the true cost of owning, not just principal and interest. Adjust the rate to a quote you’ve received; even half a point moves the payment by hundreds on a Georgia-priced home. Compare a 15-year term against 30 years to see the lifetime-interest tradeoff before you commit.
Worked example: a median Georgia home
Take a median-priced Georgia home at $330,817. With 20% down ($66,163), the loan amount is $264,654. At 7.40% (Freddie Mac PMMS, week ending October 15, 2026) on a 30-year fixed term, principal and interest come to $1,832.41/month. Add property tax of about $217.79/month (0.79% of $330,817, divided by 12) and insurance of about $137.92/month ($1,655 a year), for a total estimated payment of $2,188.11/month. Over 30 years, total interest would be about $395,013. Your rate, down payment, and county tax bill will move these numbers — use the calculator above with your own figures.
What is the conforming loan limit in Georgia for 2026?
The 2026 baseline conforming loan limit for a one-unit property is $832,750 across most of Georgia, per the FHFA’s November 2025 announcement.
How much are property taxes in Georgia?
The median effective property tax rate in Georgia is about 0.79% of a home’s assessed value (Tax Foundation (Facts & Figures 2026, 2024 ACS data, effective rate on owner-occupied housing), 2024 (published Mar 2026)). On a $330,817 home, that’s roughly $2,613 a year, or $217.79 a month — already included in the calculator above. Actual bills vary by county and municipality.
What percentage of my Georgia home’s value is actually taxed?
All residential property is assessed at 40% of fair market value (O.C.G.A. 48-5-7); the county millage rate is then applied to that assessed value.
What homestead exemption does Georgia offer and how do I claim it?
A statewide $2,000 standard homestead exemption off assessed value (plus larger county-level exemptions in many counties); owner-occupants must apply with the county tax commissioner by April 1.
What is Georgia’s ‘floating’ homestead exemption (HB 581)?
Effective Jan 1, 2025 (2024 voter amendment), it caps annual growth in a homestead’s taxable value at the CPI inflation rate, though counties, cities, and school districts could opt out; base year 2024, resets on sale.