Waycross, GA Housing Market

Market Overview

Waycross, GA has a PropertyIQ Score of 41 out of 100, positioning it as a moderate-to-weak market relative to the scoring scale. The median home value is $168,719, significantly below the Georgia state average of $330,817. The rent index is $1,092, compared with $1,393 statewide. Median household income is $51,821, also below the state average of $77,353. Unemployment is 3.3%, matching the state average. This combination suggests a lower-cost housing market with a lower income base and stable employment.

The score’s top drivers include positive home value momentum — 6.59% over 12 months and 1.16% over 3 months — but also median days on market of 71 days and a 25.0% share of listings with a price cut. Those sales indicators point to a market where buyers have time and some negotiating power. There are 220 homes for sale, which is a meaningful inventory level against a 71-day median marketing time. The reported year-over-year home value change of $2 is essentially flat as provided, although the momentum figures suggest some recent upward movement.

Overall, Waycross sits below the midpoint of the PropertyIQ scale. It is not a high-velocity market, but its lower price points and steady unemployment rate provide a foundation of affordability and labor market stability compared with state benchmarks.

Key Trends

One trend is relative affordability. The median home value of $168,719 is roughly half the Georgia average of $330,817. The rent index is $1,092, about 22% below the state average of $1,393. However, median household income is $51,821, about 33% below the state average of $77,353. Lower housing costs are paired with lower local incomes.

Another trend is modest price momentum. Home value momentum is 6.59% over 12 months and 1.16% over 3 months, both listed among the top score drivers. These figures suggest some strengthening in prices, even though the reported year-over-year home value change of $2 is minimal.

A third trend is buyer-friendly sales conditions. Median days on market is 71 days, and 25.0% of listings have a price cut. With 220 homes for sale, the data indicates a market where homes are taking a measured amount of time to sell and sellers are adjusting prices.

A fourth trend is labor market parity. The unemployment rate of 3.3% matches the Georgia state average exactly. That stability is a supportive factor for housing demand. Population growth data is not available, so demographic-driven demand cannot be assessed.

Who Is This Market For

This market is likely suited to first-time buyers and budget-conscious owner-occupants. A median home value of $168,719 creates a much lower entry point than the state average of $330,817. The rent index of $1,092 may also support manageable monthly housing costs, though incomes are lower than the state average.

Investors may find the price-to-rent relationship worth exploring. The median home value of $168,719 paired with a rent index of $1,092 can be more favorable than the state-level combination of $330,817 and $1,393. However, with median days on market at 71 days and a 25.0% price-cut share, investors should expect slower turnover and possible negotiation.

Move-up buyers may also find opportunity, as less competition and price reductions can create favorable purchase conditions. Sellers face a market that requires realistic pricing. The absence of population growth data means buyers and investors should be cautious about long-term demand assumptions.

Outlook

The data supports a cautiously stable near-term outlook. Home value momentum of 6.59% over 12 months and 1.16% over 3 months suggests some upward price pressure. But median days on market of 71 days and a 25.0% share of listings with price cuts indicate that buyers are not in an overheated market. With 220 homes for sale, inventory is likely to keep conditions balanced in favor of buyers.

The reported year-over-year home value change of $2 is minimal, so the data does not support a strong appreciation narrative. Unemployment at 3.3% matching the state average is a positive factor for steady housing demand. Population growth is not available, which limits the ability to project long-term demand. Based solely on the provided metrics, Waycross is likely to remain an affordability-oriented market with modest momentum and slower sales conditions.