Augusta, Georgia Real Estate Market 2026: Score 45, Near Fair Value at $295K

Augusta, Georgia scores 45 out of 100 on the PropertyIQ index as of February 2026.

The Augusta score is approaching the 50-point national median after recovering from 30 in December 2025. The 15-point improvement in two months is one of the sharper near-term recoveries in the Southeast. More significantly, Augusta is only 2.6% overvalued relative to what local incomes can support, making it one of the most fairly priced large metros in the region.

At a median price of approximately $295,000 and a price per square foot of $162, Augusta offers entry price points that are rare in a Southeast that has seen most markets run well above income alignment.

PropertyIQ scores Augusta a 45 out of 100 as of February 28, 2026. Scores are updated monthly using Zillow, Census, Realtor.com, and economic data.

Augusta Georgia Housing Market: February 2026 Data

All data as of February 1, 2026 unless otherwise noted.

• PropertyIQ Score: 45 (up 15 points in 2 months)
• Median price: $295,188
• Listing price: $315,450
• Zillow home value: $241,604 (January 31, 2026)
• Home value year over year: plus 1.79%
• Home value month over month: down 1.70%
• Inventory: 2,477 homes (up 34.85% year over year)
• Days on market: 75
• New listings: 776 (down 10.19% year over year)
• Pending listings: 1,086
• Price-cut rate: 14.72%
• Pending ratio: 0.44
• Price per square foot: $162
• Home sales year over year: plus 3.63%
• New construction sales: 164/month (November 2025)
• Overvalued: 2.6%
• 5-year home appreciation: 21.4%
• Zillow one-year forecast: plus 2.3%
• Zillow rent index: $1,447/month (December 2025)
• Population: 618,022 (2023 Census)
• Median household income: $66,628 (2023 Census)
• Income needed to purchase: $83,845
• Affordable home price (at median income): $250,673
• Unemployment: 4.9% (November 2025)

The 2.6% Overvaluation: What It Means for Augusta

Most markets in the PropertyIQ dataset are overvalued. The national average overvaluation is meaningfully above zero, reflecting the price appreciation that occurred between 2020 and 2023.

Augusta at 2.6% overvalued is nearly at fair value. The calculated affordable home price based on the Augusta metro median income of $66,628 is $250,673. The Zillow home value is $241,604. That means the typical Augusta home is actually below the theoretically affordable price point for the metro's median income.

The gap between the affordable price ($250,673) and the income needed to buy at the median listing price ($83,845 needed vs $66,628 median income) exists because listing prices ($315,450) run above the Zillow estimated home value. Buyers transacting at the listing price face more affordability stress than the near-fair-value Zillow reading suggests. But on the Zillow home value basis, Augusta is one of the few large Southern metros where prices have not materially outrun income fundamentals.

Compare this to Asheville, North Carolina, which is 70.3% overvalued, or West Palm Beach at a $527,000 median with a score of 16. Augusta's 2.6% overvaluation represents a fundamentally different risk profile.

Augusta GA Housing Market: Inventory and Demand

Augusta's inventory picture is worth examining carefully, because it contains a positive signal that is not immediately obvious.

Inventory is up 34.85% year over year to 2,477 homes as of February 2026. A 35% inventory increase is typically a negative signal for a market. More supply relative to demand puts downward pressure on prices and lengthens selling times.

But new listings in Augusta are down 10.19% year over year. Fewer sellers are entering the market while inventory has grown. This means the inventory growth came from homes that were listed in prior months and have not yet sold, not from a fresh wave of sellers. When new listings decline while existing inventory builds, it suggests the inventory growth is gradually being absorbed as the backlog works through the system.

The pending ratio of 0.44 supports this interpretation. For every dollar of active inventory, 44 cents is under contract. That is a reasonable absorption rate that indicates buyers are active even as the inventory headline looks elevated.

Days on market of 75 is higher than a fast market but not extreme. It reflects a buyer's market with some negotiating room, not a stalled market.

Augusta Real Estate: The New Construction Factor

The most notable data point in the Augusta report is new construction sales: 164 units per month as of November 2025.

For a metro of 618,000 people, 164 new construction sales per month is a meaningful volume. It represents active builder activity and reflects Augusta's attractiveness as a market for new development relative to its size.

New construction at this level is a double-edged signal. On the positive side, it reflects builder confidence in Augusta demand. On the cautious side, new construction adds supply that must be absorbed alongside existing home inventory. The 34.85% inventory increase partly reflects this new supply entering the market.

The key question for Augusta investors and buyers is whether the demand base is sufficient to absorb both the existing inventory overhang and ongoing new construction. At current velocity (positive pending ratio, rising score, modest volume growth), Augusta appears to be absorbing supply at a sustainable rate.

Augusta, Georgia: Economic and Employment Context

Augusta is home to Fort Eisenhower (formerly Fort Gordon), one of the largest United States Army installations, with a workforce of approximately 80,000 active military, civilian, and contractor personnel. The military base provides a stable employment anchor that many markets lack, creating a consistent buyer population that is less sensitive to private-sector economic cycles.

The Augusta metro unemployment rate is 4.9% as of November 2025. That is above the national average and higher than comparable Southeast markets. It is the most cautionary data point in the Augusta profile. A 4.9% unemployment rate means a larger share of the workforce is not income-qualified to purchase, which explains the demand score of 9.7 and the hotness score of 20.9, both below average.

Population is 618,022 as of 2023 Census data. The median age is 38.2 and the homeownership rate is 68.28%, in line with national averages. Median household income of $66,628 is modestly below the national median, which is consistent with the labor market profile of a smaller Southeast metro with a significant public-sector employment share.

Augusta GA Real Estate: Investment Analysis

The Zillow rent index for Augusta is $1,447 per month as of December 2025. At a Zillow home value of $241,604, the gross rent multiplier is approximately 13.9.

A GRM of 13.9 is in the favorable range for Southeast markets. It reflects the near-fair-value pricing that makes Augusta unusual among Southern metros. An investor purchasing at the Zillow home value with rental income at the current market rate has a more viable cash flow structure than in most comparable markets.

The Zillow one-year price forecast is plus 2.3% as of December 2025. That is a modest but positive projection. Combined with the improving score trajectory (30 in December 2025 to 45 in February 2026), the directional signals for Augusta are positive.

The rent-for-houses percentile is 43 out of 100, placing Augusta rents in the lower half of the dataset but not at the bottom. The income required to afford rent without cost burden is $57,884, below the metro median income of $66,628. Augusta renters are not cost-burdened, which supports rental demand stability.

Augusta vs. Other Southeast Markets

Atlanta scores in a separate post. Savannah, Georgia scores 37 as of February 2026. Charleston, South Carolina scores in its post.

Augusta at 45 sits above Savannah in the Georgia market hierarchy. The fair-value pricing and military employment anchor differentiate Augusta from markets like Savannah, which faces more coastal lifestyle premium valuation pressure.

Augusta Real Estate 2026: Summary

Augusta is one of the more fairly priced large markets in the Southeast as of February 2026. A score of 45 and rising, 2.6% overvaluation, $162 per square foot, and a pending ratio of 0.44 combine to paint a picture of a market that is recovering from 2025 weakness without the extreme valuation distortions that characterize the region's higher-profile metros.

The caution note is unemployment at 4.9% and the inventory surplus that will take additional months to fully absorb. The score of 45 reflects both the positive pricing fundamentals and the demand-side constraints simultaneously.

The PropertyIQ Score for Augusta is updated monthly. As of February 28, 2026, it represents one of the stronger positioning stories among Southeast markets operating below the 50-point threshold.

PropertyIQ score as of February 28, 2026. Listing and inventory data as of February 1, 2026. Zillow home value data as of January 31, 2026. Sale-to-list data as of November 30, 2025. Forecast data as of December 2025. Census data as of 2023. Economic data as of November 2025. All data for informational purposes only.