The typical owner-occupied home in Commerce is worth about $239,900, 21% below the Georgia median of $303,300 and 28% below the national median of $332,700. Owners pay a median $2,218 a year in property taxes, about 0.92% of their home's value, higher than the Georgia rate of 0.77%. The median household earns $60,961 a year, so the median home costs 3.9 times the median income (3.9 times for Georgia). 64% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Commerce at a glance
| Commerce | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $239,900 | $303,300 | $332,700 |
| Median property tax paid per year | $2,218 | $2,341 | $3,119 |
| Property tax as a share of value | 0.92% | 0.77% | 0.94% |
| Median household income | $60,961 | $77,353 | $80,734 |
| Homes lived in by their owners | 64% | 66% | 65% |
| Owner homes with a mortgage | 59% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,420 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 25.4% | 20.0% | 21.0% |
| Median rent | $1,183 | $1,393 | $1,413 |
| Rent as a share of renters' income | 31.0% | 31.3% | 30.6% |
| Median year homes were built | 1990 | 1992 | 1980 |
| Vacant homes | 3.0% | 10.3% | 10.1% |
| Population | 8,013 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Commerce
At this week's average 30-year rate of 7.11%, buying the median Commerce home of $239,900 with 20% down costs about $1,575 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,975, 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 $67,497 for the 20%-down payment. That payment is 31% of the median Commerce household income of $60,961; at that income and 20% down, the 28% guideline points to a home of about $217,000.
The median rent here is $1,183 a month, so owning the median home costs about $392 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $47,980 |
|---|---|
| Loan amount | $191,920 |
| Principal and interest | $1,291 |
| Property taxes (0.92% a year) | $184 |
| Homeowners insurance (our estimate, 0.5% a year) | $100 |
| PMI | $0 |
| Total per month | $1,575 |
Change the numbers in the calculator
| Down payment | $8,396 |
|---|---|
| Loan amount | $235,555 |
| Principal and interest | $1,585 |
| Property taxes (0.92% a year) | $184 |
| Homeowners insurance (our estimate, 0.5% a year) | $100 |
| FHA mortgage insurance | $106 |
| Total per month | $1,975 |
Change the numbers in the calculator
Questions about home buying in Commerce
What is the median home value in Commerce?
About $239,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Commerce?
Homeowners pay a median $2,218 a year, which is about 0.92% 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 Commerce?
For the median home with 20% down at 7.11%, the payment is about $1,575 a month. Keeping that under 28% of gross income takes about $67,497 a year.
More about Commerce
- Mortgage Refinance in Commerce
- Debt Relief in Commerce
- Home Equity Loans in Commerce
- 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