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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 31,864, 12,314 total housing units (homes and apartments), and a median house value of $384,048, Duluth real estate is some of the most expensive in Georgia, although Duluth home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Duluth, accounting for 48.72% of the city's housing units. Other types of housing that are prevalent in Duluth include large apartment complexes or high rise apartments ( 30.51%), row houses and other attached homes ( 14.78%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.42%).
The most prevalent building size and type in Duluth are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.55% owning and 41.45% renting.
There is a lot of housing in Duluth 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 Duluth built between 2000 and later ( 26.62%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.99%).
In the last 10 years, Duluth has experienced some of the highest home appreciation rates of any community in the nation. Duluth real estate appreciated 164.66% over the last ten years, which is an average annual home appreciation rate of 10.22%, putting Duluth in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Duluth definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Duluth that despite a nationwide downturn in the housing market, Duluth real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Duluth appreciation rates continue to be some of the highest in America, at 6.83%, which is higher than appreciation rates in 75.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Duluth. Duluth appreciation rates in the latest quarter were at 3.44%, which equates to an annual appreciation rate of 14.49%.
Relative to Georgia, our data show that Duluth'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 Duluth differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Duluth - 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 Duluth real estate investment or home purchase decisions.
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