The typical owner-occupied home in Fairmount is worth about $135,200, 55% below the Georgia median of $303,300 and 59% below the national median of $332,700. Owners pay a median $1,093 a year in property taxes, about 0.81% of their home's value, close to the Georgia rate of 0.77%. The median household earns $63,056 a year, so the median home costs 2.1 times the median income (3.9 times for Georgia). 67% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Fairmount at a glance
| Fairmount | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $135,200 | $303,300 | $332,700 |
| Median property tax paid per year | $1,093 | $2,341 | $3,119 |
| Property tax as a share of value | 0.81% | 0.77% | 0.94% |
| Median household income | $63,056 | $77,353 | $80,734 |
| Homes lived in by their owners | 67% | 66% | 65% |
| Owner homes with a mortgage | 40% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,179 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 20.8% | 20.0% | 21.0% |
| Median rent | $1,090 | $1,393 | $1,413 |
| Rent as a share of renters' income | 19.0% | 31.3% | 30.6% |
| Median year homes were built | 1975 | 1992 | 1980 |
| Vacant homes | 11.0% | 10.3% | 10.1% |
| Population | 1,279 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Fairmount
At this week's average 30-year rate of 7.11%, buying the median Fairmount home of $135,200 with 20% down costs about $875 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,100, 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 $37,508 for the 20%-down payment. That payment is 17% of the median Fairmount household income of $63,056; at that income and 20% down, the 28% guideline points to a home of about $227,000.
The median rent here is $1,090 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $27,040 |
|---|---|
| Loan amount | $108,160 |
| Principal and interest | $728 |
| Property taxes (0.81% a year) | $91 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| PMI | $0 |
| Total per month | $875 |
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| Down payment | $4,732 |
|---|---|
| Loan amount | $132,751 |
| Principal and interest | $893 |
| Property taxes (0.81% a year) | $91 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| FHA mortgage insurance | $60 |
| Total per month | $1,100 |
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Questions about home buying in Fairmount
What is the median home value in Fairmount?
About $135,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fairmount?
Homeowners pay a median $1,093 a year, which is about 0.81% 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 Fairmount?
For the median home with 20% down at 7.11%, the payment is about $875 a month. Keeping that under 28% of gross income takes about $37,508 a year.
More about Fairmount
- Mortgage Refinance in Fairmount
- Debt Relief in Fairmount
- Home Equity Loans in Fairmount
- 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