Athens, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Athens, 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

Athens Housing Market Information

With a population of 122,604, 42,861 total housing units (homes and apartments), and a median house value of $185,167, Athens real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Athens, accounting for 47.11% of the city's housing units. Other types of housing that are prevalent in Athens include large apartment complexes or high rise apartments ( 28.23%), duplexes, homes converted to apartments or other small apartment buildings ( 15.00%), and a few row houses and other attached homes ( 4.87%).

The most prevalent building size and type in Athens are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 36.55% owning and 63.45% renting.

There is a lot of housing in Athens built from 1970 to 1999 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 Athens built between 1940-1969 ( 20.22%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.68%). There's also some housing in Athens built before 1939 ( 4.59%).

Vacant housing appears to be an issue in Athens. Fully 15.90% of the housing stock is classified as vacant. Left unchecked, vacant Athens homes and apartments can be a drag on the real estate market, holding Athens 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.

Athens Home Appreciation Rates

Appreciation rates for homes in Athens have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.89%, which ranks in the top 50% nationwide. This equates to an annual average Athens house appreciation rate of 0.09%.

Appreciation rates are so strong in Athens that despite a nationwide downturn in the housing market, Athens real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Athens appreciation rates continue to be some of the highest in America, at 6.85%, which is higher than appreciation rates in 80.33% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Athens. Athens appreciation rates in the latest quarter were at 2.34%, which equates to an annual appreciation rate of 9.69%.

Importantly, this makes Athens 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 Athens's latest annual appreciation rate is higher than 70% of the other cities and towns in Georgia.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Athens differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Athens - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Athens real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$185,167

Athens, GA HOME PRICES

Value Range
> $1,162,000 0.3
$871,001 - $1,162,000 0.3
$581,001 - $871,000 2.6
$465,001 - $581,000 3.2
$349,001 - $465,000 6.4
$232,001 - $349,000 15.6
$116,001 - $232,000 45.9
$58,001 - $116,000 18.4
$0 - $58,000 7.2

Very High for GA
High for Nation

Value Relative to Nation Value Relative to State
36.3764209539435 19.0274841437632

Number Of Homes And Apartments:
42,861

Athens 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
34.10% 1.72% 8 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,033 / per month

Homeownership Rate

Homeownership
Owners 36.55
Renters 63.45
Vacant 15.90

Housing Market Details

 

Age of Homes

AGE OF Athens HOMES
2000 or Newer 19.7
1970 - 1999 55.5
1940 - 1969 20.2
1939 or Older 4.6

Types of Homes

TYPE OF Athens HOMES
Single-Family 47.1
Townhomes 4.9
Small Apt. Buildings 15.0
Apt. Complexes 28.2
Mobile Homes 4.7
Other 0.1

Home Size

SIZE OF Athens HOMES
No Bedroom 2.34
1 Bedroom 10.98
2 Bedrooms 34.92
3 Bedrooms 35.00
4 Bedrooms 13.82
5 or more bedrooms 2.93