Eastman, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Eastman, 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

Eastman Housing Market Information

With a population of 5,285, 2,096 total housing units (homes and apartments), and a median house value of $89,628, house prices in Eastman are solidly below the national average.

Single-family detached homes are the single most common housing type in Eastman, accounting for 81.82% of the city's housing units. Other types of housing that are prevalent in Eastman include large apartment complexes or high rise apartments ( 7.46%), duplexes, homes converted to apartments or other small apartment buildings ( 6.70%), and a few mobile homes or trailers ( 3.25%).

The most prevalent building size and type in Eastman are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 43.04% owning and 56.96% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Eastman's housing was primarily built during this period, from the '40s through the '60s. A full 50.72% of the city's housing hails from this era. Other housing ages represented in Eastman include homes built between 1970-1999 ( 40.49%) and housing constructed before 1939 ( 5.74%). There's also some housing in Eastman built between 2000 and later ( 3.05%).

Vacant housing appears to be an issue in Eastman. Fully 15.89% of the housing stock is classified as vacant. Left unchecked, vacant Eastman homes and apartments can be a drag on the real estate market, holding Eastman 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.

Eastman Home Appreciation Rates

Eastman's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Eastman during the period has been just -0.88%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Eastman's appreciation rate, at 3.79%, has been at or slightly above the national average. In the latest quarter, Eastman's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Georgia, our data show that Eastman's latest annual appreciation rate is lower than 50% of the other cities and towns in Georgia.

Average Home Values

 

Median Home Value:
$89,628

Eastman, GA HOME PRICES

Value Range
> $1,063,000 0.0
$797,001 - $1,063,000 0.0
$531,001 - $797,000 0.0
$425,001 - $531,000 0.0
$319,001 - $425,000 3.3
$213,001 - $319,000 8.5
$106,001 - $213,000 23.2
$53,001 - $106,000 34.5
$0 - $53,000 30.5

Low for GA
Very Low for Nation

Value Relative to Nation Value Relative to State
84.2669635532638 74.8414376321353

Number Of Homes And Apartments:
2,096

Eastman 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
5.52% 0.31% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$752 / per month

Homeownership Rate

Homeownership
Owners 43.04
Renters 56.96
Vacant 15.89

Housing Market Details

 

Age of Homes

AGE OF Eastman HOMES
2000 or Newer 3.0
1970 - 1999 40.5
1940 - 1969 50.7
1939 or Older 5.7

Types of Homes

TYPE OF Eastman HOMES
Single-Family 81.8
Townhomes 0.0
Small Apt. Buildings 6.7
Apt. Complexes 7.5
Mobile Homes 3.3
Other 0.8

Home Size

SIZE OF Eastman HOMES
No Bedroom 2.45
1 Bedroom 5.94
2 Bedrooms 27.29
3 Bedrooms 52.93
4 Bedrooms 9.15
5 or more bedrooms 2.25

Popular Neighborhoods in Eastman

Zip Codes in Eastman, GA