Buford, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Buford, 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

Buford Housing Market Information

With a population of 13,748, 4,275 total housing units (homes and apartments), and a median house value of $209,856, Buford real estate is some of the most expensive in Georgia, although Buford home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Buford, accounting for 59.83% of the city's housing units. Other types of housing that are prevalent in Buford include mobile homes or trailers ( 14.28%), large apartment complexes or high rise apartments ( 9.25%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.15%).

The most prevalent building size and type in Buford are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.34% owning and 43.66% renting.

There is a lot of housing in Buford 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 Buford built between 2000 and later ( 25.36%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.93%). There's also some housing in Buford built before 1939 ( 4.00%).

Vacant housing appears to be an issue in Buford. Fully 13.27% of the housing stock is classified as vacant. Left unchecked, vacant Buford homes and apartments can be a drag on the real estate market, holding Buford 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.

Buford Home Appreciation Rates

Real estate appreciation rates in Buford's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.11% during the period.

Appreciation rates are so strong in Buford that despite a nationwide downturn in the housing market, Buford real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Buford appreciation rates continue to be some of the highest in America, at 8.83%, which is higher than appreciation rates in 90.20% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Buford. Buford appreciation rates in the latest quarter were at 1.18%, which equates to an annual appreciation rate of 4.78%.

Relative to Georgia, our data show that Buford's latest annual appreciation rate is higher than 80% 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 Buford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Buford - 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 Buford real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$209,856

Buford, GA HOME PRICES

Value Range
> $1,307,000 0.1
$981,001 - $1,307,000 0.3
$654,001 - $981,000 1.7
$523,001 - $654,000 2.7
$392,001 - $523,000 5.5
$262,001 - $392,000 20.2
$131,001 - $262,000 40.0
$65,001 - $131,000 15.2
$0 - $65,000 14.4

Very High for GA
High for Nation

Value Relative to Nation Value Relative to State
29.9191374663073 13.107822410148

Number Of Homes And Apartments:
4,275

Buford 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
27.30% 1.41% 7 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,140 / per month

Homeownership Rate

Homeownership
Owners 56.34
Renters 43.66
Vacant 13.27

Housing Market Details

 

Age of Homes

AGE OF Buford HOMES
2000 or Newer 25.4
1970 - 1999 55.7
1940 - 1969 14.9
1939 or Older 4.0

Types of Homes

TYPE OF Buford HOMES
Single-Family 59.8
Townhomes 7.1
Small Apt. Buildings 9.1
Apt. Complexes 9.3
Mobile Homes 14.3
Other 0.4

Home Size

SIZE OF Buford HOMES
No Bedroom 1.28
1 Bedroom 7.10
2 Bedrooms 33.56
3 Bedrooms 37.67
4 Bedrooms 14.06
5 or more bedrooms 6.33