The typical owner-occupied home in Nicholson is worth about $197,800, 35% below the Georgia median of $303,300 and 41% below the national median of $332,700. Owners pay a median $1,708 a year in property taxes, about 0.86% of their home's value, higher than the Georgia rate of 0.77%. The median household earns $52,147 a year, so the median home costs 3.8 times the median income (3.9 times for Georgia). 72% of occupied homes here are lived in by their owners, and 56% of those owners still have a mortgage.
Nicholson at a glance
| Nicholson | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $197,800 | $303,300 | $332,700 |
| Median property tax paid per year | $1,708 | $2,341 | $3,119 |
| Property tax as a share of value | 0.86% | 0.77% | 0.94% |
| Median household income | $52,147 | $77,353 | $80,734 |
| Homes lived in by their owners | 72% | 66% | 65% |
| Owner homes with a mortgage | 56% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,248 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 21.8% | 20.0% | 21.0% |
| Median rent | $1,008 | $1,393 | $1,413 |
| Rent as a share of renters' income | 26.7% | 31.3% | 30.6% |
| Median year homes were built | 1998 | 1992 | 1980 |
| Vacant homes | 9.5% | 10.3% | 10.1% |
| Population | 2,335 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Nicholson
At this week's average 30-year rate of 7.11%, buying the median Nicholson home of $197,800 with 20% down costs about $1,289 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,618, 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 $55,228 for the 20%-down payment. That payment is 30% of the median Nicholson household income of $52,147; at that income and 20% down, the 28% guideline points to a home of about $187,000.
The median rent here is $1,008 a month, so owning the median home costs about $281 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $39,560 |
|---|---|
| Loan amount | $158,240 |
| Principal and interest | $1,064 |
| Property taxes (0.86% a year) | $142 |
| Homeowners insurance (our estimate, 0.5% a year) | $82 |
| PMI | $0 |
| Total per month | $1,289 |
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| Down payment | $6,923 |
|---|---|
| Loan amount | $194,217 |
| Principal and interest | $1,307 |
| Property taxes (0.86% a year) | $142 |
| Homeowners insurance (our estimate, 0.5% a year) | $82 |
| FHA mortgage insurance | $87 |
| Total per month | $1,618 |
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Questions about home buying in Nicholson
What is the median home value in Nicholson?
About $197,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Nicholson?
Homeowners pay a median $1,708 a year, which is about 0.86% 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 Nicholson?
For the median home with 20% down at 7.11%, the payment is about $1,289 a month. Keeping that under 28% of gross income takes about $55,228 a year.
More about Nicholson
- Mortgage Refinance in Nicholson
- Debt Relief in Nicholson
- Home Equity Loans in Nicholson
- 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