The median listing price of a home in Augusta is just $114 per square foot, according to the most recent data from Realtor.com, which may sound almost too good to be true for real estate investors who live on the East and West Coasts.
Even though homes in the metro area are still relatively affordable, nearly half of Augusta households are occupied by renters. Population and job growth are nice and steady, and median rents have increased by 9% over the past year.
In this article, we’ll look at 15 areas in and around Augusta to consider, including some small bedroom communities that are popular with renters.
Key takeaways
- Augusta is located in east central Georgia, across the Savannah River from South Carolina.
- Over 202,000 people live in the city of Augusta, with 611,000 residents in the metropolitan area.
- The largest counties in the Augusta region include Richmond, Columbia, Burke, and McDuffie.
- In some suburban communities of Augusta, more than 50% of residents rent their homes.
>>Explore Roofstock's Augusta investment properties.
Why invest in Augusta, Georgia?
At one time, Augusta was the best-kept secret in the South, according to Forbes, but that appears to no longer be the case. Home values have increased by nearly 21% year over year, while median rents for 3-bedroom homes have grown by 9%, according to Zillow and Zumper.
The U.S. Bureau of Labor Statistics reports unemployment in the metro area is down to just 2.7%, with both residents and businesses attracted by the low cost of living and a recovering job market. Workers in the region frequently commute from suburbs of Augusta in Richmond, Columbia, and Aiken counties.
Although the median value of a home in Augusta is $158,146 as of January 31, 2022, the metro area is still very popular with renters. Zumper reports that 45% of households are renter-occupied, with the median rent for 3-bedroom homes $1,260 per month.
15 great areas in Augusta for investment properties
Augusta is home to dozens of different neighborhoods and suburbs. Home prices in the Augusta region are still relatively affordable.
According to Realtor.com, as of January 2022, Augusta is ranked as a seller’s market, which means there are more buyers than there are homes for sale. The sale-to-list price ratio is 100%, with homes selling for approximately the asking price, and homes go under contract an average of 51 days after being listed.
There are 48 Augusta neighborhoods in which to look for investment property, with median listing prices ranging from $89,900 to $290,000. Here are 15 areas in and around Augusta, Georgia, to find rental property for sale. Sales trends and demographic data for each area comes from Realtor.com, Redfin, and Niche.com.
Augusta
The city of Augusta is home to over 202,000 residents and is the third largest city in Georgia, after Atlanta and Columbus. About 45% of residents rent, and rents for 3-bedroom homes have increased by 9% year over year, according to Zumper (Feb 23, 2022):
- Population: 202,081
- Median sale price: $182,000
- Change in sales price (year over year): 27.1%
- Days on market: 51
- Median rent: $888
- Renter-occupied households: 45%
- Median household income: $42,592
- ZIP codes: 30805, 30813, 30818, 30904
Gloverville
Gloverville is a suburb of Augusta located about 20 minutes east of the city, in South Carolina, near Aiken Technical College. Home to less than 3,000 people, Gloverville has a suburban-rural feel, and nearly half of residents rent their homes:
- Population: 2,966
- Median sale price: $140,000
- Change in sales price (year over year): 12.9%
- Days on market: 63
- Median rent: $716
- Renter-occupied households: 41%
- Median household income: $36,907
- ZIP codes: 29828, 29851
Grovetown
Grovetown is a suburb west of Augusta, located between I-20 and Highway 78, near the Fort Gordon Army Base. The town has a suburban-rural feel, and it’s another suburb with a large percentage of renter-occupied homes:
- Population: 14,053
- Median sale price: $250,000
- Change in sales price (year over year): 11.1%
- Days on market: 7
- Median rent: $1,140
- Renter-occupied households: 44%
- Median household income: $68,756
- ZIP code: 30813
Martinez
Located a few minutes northwest of Downtown Augusta, Niche.com ranks Martinez as the best place to buy a house in the Augusta area. The town is near Doctors Hospital of Augusta, near the intersection of I-520 and I-20, and has a sparse suburban feel:
- Population: 34,844
- Median sale price: $232,000
- Change in sales price (year over year): 21.4%
- Days on market: 28
- Median rent: $1,087
- Renter-occupied households: 24%
- Median household income: $75,330
- ZIP codes: 30809, 30907
Aiken
Aiken is 20 miles east of Augusta, just south of I-20, in South Carolina. This suburb of Augusta has a sparse suburban feel, is home to the University of South Carolina Aiken, and is popular with renters:
- Population: 30,671
- Median sale price: $267,000
- Change in sales price (year over year): 16.5%
- Days on market: 32
- Median rent: $951
- Renter-occupied households: 34%
- Median household income: $56,199
- ZIP codes: 29801, 29802, 29803
Evans
Evans is located north of Martinez, bordered by the Savannah River on the east and Blanchard Woods Park on the west. According to Niche.com, Evans is the best place to live in the Augusta area:
- Population: 37,114
- Median sale price: $385,000
- Change in sales price (year over year): 18.3%
- Days on market: 24
- Median rent: $1,472
- Renter-occupied households: 15%
- Median household income: $110,036
- ZIP codes: 30809, 30813, 30907
Belvedere
Belvedere is located a few minutes northeast of Augusta, across the border in South Carolina. This small bedroom community of Augusta has a rural feel and is popular with renters:
- Population: 5,262
- Median sale price: $150,000
- Change in sales price (year over year): 17.1%
- Days on market: 3
- Median rent: $931
- Renter-occupied households: 36%
- Median household income: $45,633
- ZIP codes: 94920, 94965
Harlem
Located about 20 miles west of Augusta near Grovetown, Niche.com ranks Harlem as one of the best places to buy a home. This small town has a rural feel, and one-third of residents rent their homes:
- Population: 3,137
- Median sale price: $233,000
- Change in sales price (year over year): -5.3%
- Days on market: 11
- Median rent: $696
- Renter-occupied households: 33%
- Median household income: $56,607
- ZIP code: 30814
Edgefield
Edgefield is a suburb of Augusta, located about 40 minutes north of the city, in the state of South Carolina. The town has a sparse suburban feel, and nearly half of the households in Edgefield are occupied by renters:
- Population: 4,780
- Median sales price: $228,000
- Change in sales price (year over year): 0.0%
- Days on market: 87
- Median rent: $561
- Renter-occupied households: 49%
- Median household income: $27,619
- ZIP code: 29824
Graniteville
Graniteville is located 15 miles northeast of Augusta, along Highway 78, on the way to Aiken. The community has a suburban-rural feel and is popular with renters:
- Population: 3,320
- Median sale price: $295,000
- Change in sales price (year over year): 22.7%
- Days on market: 45
- Median rent: $767
- Renter-occupied households: 37%
- Median household income: $37,650
- ZIP code: 29829
New Ellenton
The small town of New Ellenton, SC, is about a 30-minute drive east of Augusta. New Ellenton has a suburban-rural feel and is part of the Augusta metropolitan area:
- Population: 1,965
- Median sale price: $220,000
- Change in sales price (year over year): 16.5%
- Days on market: 50
- Median rent: $727
- Renter-occupied households: 29%
- Median household income: $40,679
- ZIP code: 29809
Thomson
Thomson is a 40-minute drive west of the city, near the intersection of I-20 and Highway 78. This suburban community of Augusta has a sparse suburban feel, with 50% of households occupied by renters:
- Population: 6,593
- Median sale price: $185,000
- Change in sales price (year over year): 52.9%
- Days on market: 6
- Median rent: $709
- Renter-occupied households: 50%
- Median household income: $29,367
- ZIP code: 30824
Waynesboro
More than half of residents in suburban Waynesboro rent their homes. Located about 30 miles south of Augusta along Highway 25, the town has a suburban-rural feel, and is just south of the suburb of Hephzibah:
- Population: 5,487
- Median sale price: $149,000
- Change in sales price (year over year): -17.0%
- Days on market: 29
- Median rent: $561
- Renter-occupied households: 55%
- Median household income: $29,408
- ZIP code: 30830
Hephzibah
The Augusta suburb of Hephzibah is a 25-minute drive southwest of the city, just north of Waynesboro. The small town is adjacent to Diamond Lakes Regional Park and has a suburban-rural feel:
- Population: 3,977
- Median sale price: $212,000
- Change in sales price (year over year): 56.0%
- Days on market: 24
- Median rent: $883
- Renter-occupied households: 26%
- Median household income: $54,554
- ZIP code: 30815
Murphys Estates
Murphys Estates is across the border in South Carolina, about a 30-minute drive north of Augusta, and has a suburban-rural feel:
- Population: 1,490
- Median sale price: $217,000
- Change in sales price (year over year): 2.1%
- Days on market: 69
- Median rent: $869
- Renter-occupied households: 18%
- Median household income: $52,331
- ZIP code: 29860
>>Explore Roofstock's Augusta investment properties.
