The typical owner-occupied home in Bishop is worth about $440,000, 45% above the Georgia median of $303,300 and 32% above the national median of $332,700. Owners pay a median $3,950 a year in property taxes, about 0.90% of their home's value, higher than the Georgia rate of 0.77%. The median household earns $148,750 a year, so the median home costs 3.0 times the median income (3.9 times for Georgia). 81% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Bishop at a glance
| Bishop | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $440,000 | $303,300 | $332,700 |
| Median property tax paid per year | $3,950 | $2,341 | $3,119 |
| Property tax as a share of value | 0.90% | 0.77% | 0.94% |
| Median household income | $148,750 | $77,353 | $80,734 |
| Homes lived in by their owners | 81% | 66% | 65% |
| Owner homes with a mortgage | 65% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,906 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 16.2% | 20.0% | 21.0% |
| Median rent | $1,042 | $1,393 | $1,413 |
| Rent as a share of renters' income | 25.6% | 31.3% | 30.6% |
| Median year homes were built | 2004 | 1992 | 1980 |
| Vacant homes | 0.0% | 10.3% | 10.1% |
| Population | 427 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Bishop
At this week's average 30-year rate of 7.11%, buying the median Bishop home of $440,000 with 20% down costs about $2,881 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,614, 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 $123,483 for the 20%-down payment. That payment is 23% of the median Bishop household income of $148,750; at that income and 20% down, the 28% guideline points to a home of about $530,000.
The median rent here is $1,042 a month, so owning the median home costs about $1,839 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $88,000 |
|---|---|
| Loan amount | $352,000 |
| Principal and interest | $2,368 |
| Property taxes (0.90% a year) | $330 |
| Homeowners insurance (our estimate, 0.5% a year) | $183 |
| PMI | $0 |
| Total per month | $2,881 |
Change the numbers in the calculator
| Down payment | $15,400 |
|---|---|
| Loan amount | $432,030 |
| Principal and interest | $2,906 |
| Property taxes (0.90% a year) | $330 |
| Homeowners insurance (our estimate, 0.5% a year) | $183 |
| FHA mortgage insurance | $195 |
| Total per month | $3,614 |
Change the numbers in the calculator
Questions about home buying in Bishop
What is the median home value in Bishop?
About $440,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bishop?
Homeowners pay a median $3,950 a year, which is about 0.90% 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 Bishop?
For the median home with 20% down at 7.11%, the payment is about $2,881 a month. Keeping that under 28% of gross income takes about $123,483 a year.
More about Bishop
- Mortgage Refinance in Bishop
- Debt Relief in Bishop
- Home Equity Loans in Bishop
- 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