Know before you go
- In the City of Atlanta the median owner cost with a mortgage is $712 a month above the median gross rent.
- Georgia’s transfer tax on a $400,000 sale is $400.
- A Georgia landlord cannot require a security deposit of more than two months’ rent.
Rent or buy is rarely a pure math problem, but the math is a good place to start. The Census Bureau publishes two monthly figures for every city and county that make a rough comparison possible: the median cost for homeowners who have a mortgage, and the median gross rent. Neither describes your situation exactly, and both are medians across 2020 to 2024. Side by side, though, they show how far apart owning and renting tend to be in different parts of the metro.
The monthly gap, place by place
| Place | Owner cost with a mortgage | Median gross rent | Difference per month |
|---|---|---|---|
| Atlanta (city) | $2,423 | $1,711 | $712 |
| Fulton County | $2,373 | $1,732 | $641 |
| DeKalb County | $1,979 | $1,692 | $287 |
| Cobb County | $2,084 | $1,730 | $354 |
| Gwinnett County | $2,050 | $1,810 | $240 |
| Decatur | $3,419 | $1,655 | $1,764 |
| Marietta | $2,170 | $1,586 | $584 |
| Alpharetta | $2,950 | $1,948 | $1,002 |
| Sandy Springs | $2,814 | $1,870 | $944 |
| Johns Creek | $2,809 | $2,257 | $552 |
| Kennesaw | $1,901 | $1,845 | $56 |
| Lawrenceville | $1,845 | $1,613 | $232 |
In Kennesaw the two medians are only $56 apart. In Decatur the owner figure is more than double the rent. A large part of the difference is the price of homes: the median value is $335,400 in Kennesaw and $701,400 in Decatur. Remember that many owners in these figures bought years ago, at lower prices and different interest rates, so a buyer today may face higher monthly costs than the median owner.
Price compared with income
Another rough guide is the median home value divided by the median household income. In the Census figures it is about 4.0 in Cobb County and Kennesaw, 4.3 in Gwinnett, 4.4 in DeKalb and Alpharetta, 5.1 in the City of Atlanta and 6.2 in Marietta. A higher ratio means homes cost more years of a typical local income, and renting tends to be the easier way in.
Costs that only owners pay
Owning brings bills a renter does not see directly. In Georgia the biggest recurring one is property tax. Homes are assessed at 40 percent of fair market value, and each mill is $1 per $1,000 of assessed value. On a $400,000 home, the 2026 county rate sheets put the bill before exemptions at about $4,821 in unincorporated Cobb and $7,054 in unincorporated DeKalb. The comparison across counties is in Atlanta-Area Property Taxes by County: 2026 Rates for DeKalb, Cobb, Gwinnett and Fulton.
- Real estate transfer tax, paid on recording the deed: $1 for the first $1,000 of the price and 10 cents for each additional $100, which is $400 on a $400,000 sale. The Department of Revenue says it is paid by the person who executes the deed; check your contract for who covers which closing costs.
- Property tax every year, reduced by a homestead exemption once you qualify.
- Repairs and upkeep, which a landlord would otherwise handle.
The homestead timing rule
Georgia’s homestead exemption depends on who owned and lived in the home on January 1. The Department of Revenue says you must own the property on January 1 to receive the exemption for that tax year, and you apply with the county by the April 1 return deadline or, under newer rules, within your 45-day window to appeal the assessment notice. Buy in February and your first year’s bill is figured without your exemption. See The Georgia Homestead Exemption for Atlanta-Area Buyers: Who Qualifies and How It Floats.
What renting protects you from, and what it costs
Renting keeps upfront money low and moving easy. Georgia law, as summarized in the state’s Landlord-Tenant Handbook, caps a security deposit at two months’ rent; on the City of Atlanta’s median rent of $1,711 that is at most $3,422. The landlord has to return the deposit within 30 days after the lease ends or you move out, whichever is later, minus documented damage. The full rules are in Renting in Georgia: Security Deposits, Repairs and Your Rights as a Tenant.
Tip: If you are new to Atlanta, a one-year lease can be a way to test commutes and neighborhoods before you lock in a purchase.
Questions that usually decide it
How long will you stay?
Buying and later selling a home both carry one-time costs. The shorter your stay, the fewer months there are to spread those costs over. If your job or plans could move you within a couple of years, renting keeps that door open.
How much is in savings after the down payment?
A first-year owner pays for surprises: a water heater, a roof patch, a tax bill that comes before the exemption applies. Keeping a cushion is common advice for that reason.
Where in the metro?
The table shows the answer can flip from one place to the next. Where owner costs and rents are close, as in Kennesaw, Lawrenceville or Gwinnett County, the monthly case for buying is stronger than where they are far apart, as in Decatur or Alpharetta.
A simple way to compare your own numbers
- Write the rent you would pay for the home you want.
- Estimate the mortgage payment from a lender quote, then add property tax at the local 2026 rate and homeowners insurance.
- Add a monthly amount for upkeep.
- Compare the totals, then compare the cash each path needs on day one.
- Decide how many years you expect to stay.
For the places behind these numbers, start with Where to Live in Metro Atlanta: Comparing Cities and Counties by Cost, Commute and Taxes.