Commerce, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Commerce Neighborhoods Since 2000




Commerce, GA Real Estate Data


Commerce Housing Market Information

With 6,762 people, 2,222 houses or apartments, and a median cost of homes of $119,276, house prices in Commerce are solidly below the national average.

Single-family detached homes are the single most common housing type in Commerce, accounting for 68.22% of the city's housing units. Other types of housing that are prevalent in Commerce include large apartment complexes or high rise apartments ( 12.60%), mobile homes or trailers ( 11.43%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.48%).

The most prevalent building size and type in Commerce are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.44% owning and 47.56% renting.

There is a lot of housing in Commerce 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 Commerce built between 2000 and later ( 22.19%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.06%). There's also some housing in Commerce built before 1939 ( 13.82%).

Vacant housing appears to be an issue in Commerce. Fully 13.03% of the housing stock is classified as vacant. Left unchecked, vacant Commerce homes and apartments can be a drag on the real estate market, holding Commerce 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.

Commerce Home Appreciation Rates

Commerce's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Commerce during the period has been just -1.86%, which is lower than 80% of US communities.

Appreciation rates are so strong in Commerce that despite a nationwide downturn in the housing market, Commerce real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Commerce appreciation rates continue to be some of the highest in America, at 7.49%, which is higher than appreciation rates in 83.35% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Commerce. Commerce appreciation rates in the latest quarter were at 1.10%, which equates to an annual appreciation rate of 4.49%.

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

Average Home Values

 

Median Home Value:
$119,276

Commerce, GA HOME PRICES

Value Range
> $1,154,000 0.5
$865,001 - $1,154,000 0.4
$577,001 - $865,000 1.1
$462,001 - $577,000 3.3
$346,001 - $462,000 4.3
$231,001 - $346,000 12.2
$115,001 - $231,000 38.4
$58,001 - $115,000 26.4
$0 - $58,000 13.5

Average for GA
Low for Nation

Value Relative to Nation Value Relative to State
65.7447556545177 52.0084566596194

Number Of Homes And Apartments:
2,222

Rent & Ownership

 

Average Market Rent:
$962 / per month

Homeownership Rate

Homeownership
Owners 52.44
Renters 47.56
Vacant 13.03

Housing Market Details

 

Age of Homes

AGE OF Commerce HOMES
2000 or Newer 22.2
1970 - 1999 42.9
1940 - 1969 21.1
1939 or Older 13.8

Types of Homes

TYPE OF Commerce HOMES
Single-Family 68.2
Townhomes 0.3
Small Apt. Buildings 7.5
Apt. Complexes 12.6
Mobile Homes 11.4
Other 0.0

Home Size

SIZE OF Commerce HOMES
No Bedroom 0.27
1 Bedroom 4.81
2 Bedrooms 40.74
3 Bedrooms 43.95
4 Bedrooms 7.16
5 or more bedrooms 3.05

Commerce Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
2.11% 0.12% 2 1
* 10 is highest

Popular Neighborhoods in Commerce

Zip Codes in Commerce, GA