The typical owner-occupied home in Cave Spring is worth about $152,200, 50% below the Georgia median of $303,300 and 54% below the national median of $332,700. Owners pay a median $1,326 a year in property taxes, about 0.87% of their home's value, higher than the Georgia rate of 0.77%. The median household earns $50,882 a year, so the median home costs 3.0 times the median income (3.9 times for Georgia). 68% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Cave Spring at a glance
| Cave Spring | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $152,200 | $303,300 | $332,700 |
| Median property tax paid per year | $1,326 | $2,341 | $3,119 |
| Property tax as a share of value | 0.87% | 0.77% | 0.94% |
| Median household income | $50,882 | $77,353 | $80,734 |
| Homes lived in by their owners | 68% | 66% | 65% |
| Owner homes with a mortgage | 50% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,183 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 16.8% | 20.0% | 21.0% |
| Median rent | $866 | $1,393 | $1,413 |
| Rent as a share of renters' income | 33.5% | 31.3% | 30.6% |
| Median year homes were built | 1970 | 1992 | 1980 |
| Vacant homes | 25.4% | 10.3% | 10.1% |
| Population | 1,080 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Cave Spring
At this week's average 30-year rate of 7.11%, buying the median Cave Spring home of $152,200 with 20% down costs about $993 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,246, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $42,551 for the 20%-down payment. That payment is 23% of the median Cave Spring household income of $50,882; at that income and 20% down, the 28% guideline points to a home of about $182,000.
The median rent here is $866 a month, so owning the median home costs about $127 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $30,440 |
|---|---|
| Loan amount | $121,760 |
| Principal and interest | $819 |
| Property taxes (0.87% a year) | $110 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| PMI | $0 |
| Total per month | $993 |
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| Down payment | $5,327 |
|---|---|
| Loan amount | $149,443 |
| Principal and interest | $1,005 |
| Property taxes (0.87% a year) | $110 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| FHA mortgage insurance | $67 |
| Total per month | $1,246 |
Change the numbers in the calculator
Questions about home buying in Cave Spring
What is the median home value in Cave Spring?
About $152,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cave Spring?
Homeowners pay a median $1,326 a year, which is about 0.87% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Cave Spring?
For the median home with 20% down at 7.11%, the payment is about $993 a month. Keeping that under 28% of gross income takes about $42,551 a year.
More about Cave Spring
- Mortgage Refinance in Cave Spring
- Debt Relief in Cave Spring
- Home Equity Loans in Cave Spring
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data