Morrow appreciation rates and housing market information

Morrow housing market information

With a population of 4,893, 1,772 total housing units (homes and apartments), and a median house value of $146,900, Morrow real estate and house prices are near the national average for all cities and towns.

single-family detached homes are the single most common housing type in Morrow, accounting for 52.09% of the city's housing units. Other types of housing that are prevalent in Morrow include large apartment complexes or high rise apartments (33.63%), row houses and other attached homes (8.30%), duplexes, homes converted to apartments, or other small apartment buildings (5.14%), and a few mobile homes or trailers (0.85%).

The most prevalent building size and type in Morrow are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 55.47% owning, and 38.88% renting.

There is a lot of housing in Morrow built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Morrow built from 1940-1969 (40.35%). A lesser amount of the housing stock also hails from 1995 and later (7.90%), and some were built from 1939 and earlier (7.90%).

Morrow home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Morrow, where house values have increased just 42.43%, which is an average annual increase of 4.24%. NeighborhoodScout's data show that in the latest quarter, Morrow house values appreciated -1.05%, which is an annualized rate of -4.20%. This rate is lower than the appreciation rate found in 60% of the cities and towns in America.

Over the last year, Morrow appreciation rates have trailed the rest of the nation. In the last twelve months, Morrow's appreciation rate has been -1.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Morrow were at -1.05%, which equates to an annual appreciation rate of -4.20%.

Relative to Georgia, our data show that Morrow's latest annual appreciation rate is higher than 3% of the other cities and towns in Georgia.