Lovejoy appreciation rates and housing market information

Lovejoy housing market information

With 2,542 people, 605 houses or apartments, and a median cost of homes of $61,800, house prices in Lovejoy are some of the most affordable in Georgia as well as the nation.

mobile homes or trailers are the single most common housing type in Lovejoy, accounting for 91.24% of the city's housing units. Other types of housing that are prevalent in Lovejoy include and a few single-family detached homes (8.43%).

Owner-occupied, three and four bedroom mobile homes or trailers are the most prevalent type of housing you will see in Lovejoy. Owner-occupied housing accounts for 72.40% of Lovejoy's homes, and 75.21% have either three or four bedrooms, which is average sized relative to America.

Lovejoy homes and real estate are some of the newest in America. 61.98% of Lovejoy's housing was built since 1995, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Lovejoy real estate market has to offer. Quit a bit of the housing here was also built between 1970-1994 (32.07%), and 1940-1969 (3.31%).

Vacant housing appears to be an issue in Lovejoy. Fully 18.01% of the housing stock is classified as vacant. Left unchecked, vacant Lovejoy homes and apartments can be a drag on the real estate market, holding Lovejoy real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Lovejoy home appreciation rates

In the last 10 years, Lovejoy has experienced some of the highest home appreciation rates of any community in the nation. Lovejoy real estate appreciated 150.34% over the last ten years, which is an average annual home appreciation rate of 15.03%, putting Lovejoy in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lovejoy definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Lovejoy that despite a nationwide downturn in the housing market, Lovejoy real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lovejoy appreciation rates continue to be some of the highest in America, at 9.40%, which is higher than appreciation rates in 97% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lovejoy. Lovejoy appreciation rates in the latest quarter were at 1.64%, which equates to an annual appreciation rate of 6.56%.

Importantly, this makes Lovejoy one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Georgia, our data show that Lovejoy's latest annual appreciation rate is higher than 95% of the other cities and towns in Georgia.