Alma, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Alma, GA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Alma Housing Market Information

With 3,536 people, 1,140 houses or apartments, and a median cost of homes of $67,430, house prices in Alma are some of the most affordable in Georgia as well as the nation.

Single-family detached homes are the single most common housing type in Alma, accounting for 74.49% of the city's housing units. Other types of housing that are prevalent in Alma include duplexes, homes converted to apartments or other small apartment buildings ( 14.46%), large apartment complexes or high rise apartments ( 4.94%), and a few mobile homes or trailers ( 4.36%).

The most prevalent building size and type in Alma are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 39.30% owning and 60.70% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Alma's housing was primarily built during this period, from the '40s through the '60s. A full 52.25% of the city's housing hails from this era. Other housing ages represented in Alma include homes built between 1970-1999 ( 31.40%) and housing constructed before 1939 ( 10.68%). There's also some housing in Alma built between 2000 and later ( 5.67%).

Vacant housing appears to be an issue in Alma. Fully 17.15% of the housing stock is classified as vacant. Left unchecked, vacant Alma homes and apartments can be a drag on the real estate market, holding Alma 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.

Alma Home Appreciation Rates

Homes have actually lost value in Alma over the last then years, as home values have seen a decline of 23.81% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Alma home appreciation rates at 0.00%, which equates to an annual appreciation rate of 0.00%.

Over the last year, Alma appreciation rates have trailed the rest of the nation. In the last twelve months, Alma's appreciation rate has been 1.25%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Alma were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Georgia, our data show that Alma's latest annual appreciation rate is lower than 80% of the other cities and towns in Georgia.

Average Home Values

 

Median Home Value:
$67,430

Alma, GA HOME PRICES

Value Range
> $1,081,000 0.0
$810,001 - $1,081,000 0.0
$540,001 - $810,000 0.0
$432,001 - $540,000 0.8
$325,001 - $432,000 2.1
$217,001 - $325,000 7.0
$108,001 - $217,000 19.7
$54,001 - $108,000 21.9
$0 - $54,000 48.4

Very Low for GA
Very Low for Nation

Value Relative to Nation Value Relative to State
96.1971170748857 91.5433403805497

Number Of Homes And Apartments:
1,140

Alma Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
8.11% 0.45% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$740 / per month

Homeownership Rate

Homeownership
Owners 39.30
Renters 60.70
Vacant 17.15

Housing Market Details

 

Age of Homes

AGE OF Alma HOMES
2000 or Newer 5.7
1970 - 1999 31.4
1940 - 1969 52.3
1939 or Older 10.7

Types of Homes

TYPE OF Alma HOMES
Single-Family 74.5
Townhomes 1.7
Small Apt. Buildings 14.5
Apt. Complexes 4.9
Mobile Homes 4.4
Other 0.0

Home Size

SIZE OF Alma HOMES
No Bedroom 2.18
1 Bedroom 7.34
2 Bedrooms 26.67
3 Bedrooms 52.18
4 Bedrooms 11.19
5 or more bedrooms 0.44

Popular Neighborhoods in Alma

Zip Codes in Alma, GA