Cordele, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Cordele, 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

Cordele Housing Market Information

With 10,943 people, 3,799 houses or apartments, and a median cost of homes of $121,108, house prices in Cordele are solidly below the national average.

Single-family detached homes are the single most common housing type in Cordele, accounting for 60.34% of the city's housing units. Other types of housing that are prevalent in Cordele include duplexes, homes converted to apartments or other small apartment buildings ( 15.80%), large apartment complexes or high rise apartments ( 13.46%), and a few mobile homes or trailers ( 10.28%).

The most prevalent building size and type in Cordele are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 37.13% owning and 62.87% renting.

There is a lot of housing in Cordele 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 Cordele built between 1940-1969 ( 40.06%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.29%). There's also some housing in Cordele built before 1939 ( 6.72%).

Vacant housing appears to be an issue in Cordele. Fully 21.23% of the housing stock is classified as vacant. Left unchecked, vacant Cordele homes and apartments can be a drag on the real estate market, holding Cordele 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.

Cordele Home Appreciation Rates

Cordele's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cordele during the period has been just -0.91%, which is lower than 70% of US communities.

Over the last year, Cordele appreciation rates have trailed the rest of the nation. In the last twelve months, Cordele's appreciation rate has been -3.04%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cordele were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Georgia, our data show that Cordele's latest annual appreciation rate is lower than 90% 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 Cordele differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cordele - 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 Cordele real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$121,108

Cordele, GA HOME PRICES

Value Range
> $1,005,000 0.8
$754,001 - $1,005,000 0.4
$502,001 - $754,000 1.5
$402,001 - $502,000 3.5
$302,001 - $402,000 4.4
$201,001 - $302,000 9.8
$100,001 - $201,000 29.3
$50,001 - $100,000 27.8
$0 - $50,000 22.4

Average for GA
Low for Nation

Value Relative to Nation Value Relative to State
64.7544825969764 50.5285412262156

Number Of Homes And Apartments:
3,799

Cordele 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
16.70% 0.90% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$681 / per month

Homeownership Rate

Homeownership
Owners 37.13
Renters 62.87
Vacant 21.23

Housing Market Details

 

Age of Homes

AGE OF Cordele HOMES
2000 or Newer 8.3
1970 - 1999 44.9
1940 - 1969 40.1
1939 or Older 6.7

Types of Homes

TYPE OF Cordele HOMES
Single-Family 60.3
Townhomes 0.1
Small Apt. Buildings 15.8
Apt. Complexes 13.5
Mobile Homes 10.3
Other 0.0

Home Size

SIZE OF Cordele HOMES
No Bedroom 1.45
1 Bedroom 8.96
2 Bedrooms 27.85
3 Bedrooms 50.49
4 Bedrooms 9.66
5 or more bedrooms 1.60