A general overview of the Lakeview Estates, GA real estate market is displayed above. The median home price for homes in Lakeview Estates, GA is $12,300, which is 92% lower than the Georgia average. This means that real estate in the Lakeview Estates, GA area is generally more affordable than the rest of Georgia. The median rent price in Lakeview Estates, GA is $735 which is 18% lower than the Georgia average. In Lakeview Estates, GA, 34.8% of people are home owners and an average of 4.6 people occupy each home. From luxury houses to affordable condos to urban townhomes, there are many different types of real estate in Lakeview Estates, GA. We make it easy to find Lakeview Estates, GA real estate listings and homes for sale by filtering location, price, bedrooms and bathrooms in the search area above.
Lakeview Estates Home Affordability
$12,300Median home price 92% lower than Georgia
$24,421Median home income 52% lower than Georgia
0.5xHome price to income ratio 83% lower than Georgia
Home affordability can be a very important factor when determining where to purchase real estate in Lakeview Estates, GA. One method that can be used to calculate home affordability is the home price to median household income ratio. The median home price in Lakeview Estates, GA is $12,300 and the median household income is $24,421. This results in a home price to income ratio of 0.5x, which is 83% lower than the Georgia average. The home affordability ratio is calculated by dividing the median home price by the median home income. A lower than average home price to income ratio means that homes in Lakeview Estates, GA are more affordable based on the median price of homes compared to home income. Of course, there are many other factors to consider when focusing on home affordability. Use the home affordability calculator below to see exactly how much you can afford to pay for real estate in Lakeview Estates, GA.
Lakeview Estates Affordability Calculator
When searching for real estate in Lakeview Estates, GA, it is important to find a home that fits comfortably within your budget. The home affordability calculator allows you to determine what price of home in Lakeview Estates, GA you can afford based on your income, debts and down payment. For an even more complete picture, you can add in further details such as: length of mortgage term, mortgage rate, property taxes, home insurance and HOA dues. This will estimate the costs of home ownership and display the home price that would fit within that budget. Knowing the price of home that you can afford in Lakeview Estates, GA before you begin the house hunting process will keep you from getting too emotionally invested in homes that you may not be able to afford. The home affordability calculator will also allow you to balance your budget, so you know exactly how much will be spent on housing and how much you will have left over for any other living expenses and savings.
Lakeview Estates Mortgage Calculator
What will my monthly costs be if I purchase Lakeview Estates, GA real estate? There are many different variables that go into determining the monthly cost of a home. The biggest is obviously the home price. But after the actual price of the home you will also need to consider the down payment, loan term, interest rate, property taxes, home insurance, HOA dues and PMI (private mortgage insurance). PMI payments can be avoided for homeowners that are able to put 20% or more towards a down payment. The mortgage calculator has preset default values for these details, but they may be adjusted to give you a more accurate monthly payment estimate. Keep in mind that a good rule of thumb is to keep the DTI (debt-to-income) ratio to no more than 36 percent. This means that no more than 36 percent of gross monthly income should go to paying all debts.