Eastman, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Eastman, GA Real Estate Data


Eastman Housing Market Information

With 5,285 people, 2,167 houses or apartments, and a median cost of homes of $80,719, house prices in Eastman are some of the most affordable in Georgia as well as the nation.

Single-family detached homes are the single most common housing type in Eastman, accounting for 76.42% of the city's housing units. Other types of housing that are prevalent in Eastman include duplexes, homes converted to apartments or other small apartment buildings ( 13.93%), large apartment complexes or high rise apartments ( 5.66%), and a few mobile homes or trailers ( 3.98%).

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 39.80% owning and 60.20% 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 47.97% of the city's housing hails from this era. Other housing ages represented in Eastman include homes built between 1970-1999 ( 43.05%) and housing constructed before 1939 ( 4.80%). There's also some housing in Eastman built between 2000 and later ( 4.18%).

Vacant housing appears to be an issue in Eastman. Fully 15.42% 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 -0.71%, which is lower than 70% of US communities.

Over the last year, Eastman appreciation rates have trailed the rest of the nation. In the last twelve months, Eastman's appreciation rate has been 2.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Eastman were at 1.23%, which equates to an annual appreciation rate of 5.00%.

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

Average Home Values

 

Median Home Value:
$80,719

Eastman, GA HOME PRICES

Value Range
> $1,055,000 0.0
$791,001 - $1,055,000 0.0
$527,001 - $791,000 0.0
$422,001 - $527,000 0.3
$316,001 - $422,000 2.7
$211,001 - $316,000 6.4
$105,001 - $211,000 26.4
$53,001 - $105,000 37.2
$0 - $53,000 26.9

Very Low for GA
Very Low for Nation

Value Relative to Nation Value Relative to State
90.9468876266323 82.4524312896406

Number Of Homes And Apartments:
2,167

Rent & Ownership

 

Average Market Rent:
$818 / per month

Homeownership Rate

Homeownership
Owners 39.80
Renters 60.20
Vacant 15.42

Housing Market Details

 

Age of Homes

AGE OF Eastman HOMES
2000 or Newer 4.2
1970 - 1999 43.1
1940 - 1969 48.0
1939 or Older 4.8

Types of Homes

TYPE OF Eastman HOMES
Single-Family 76.4
Townhomes 0.0
Small Apt. Buildings 13.9
Apt. Complexes 5.7
Mobile Homes 4.0
Other 0.0

Home Size

SIZE OF Eastman HOMES
No Bedroom 2.38
1 Bedroom 9.37
2 Bedrooms 27.17
3 Bedrooms 52.97
4 Bedrooms 6.36
5 or more bedrooms 1.76

Eastman Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
4.61% 0.27% 2 1
* 10 is highest

Popular Neighborhoods in Eastman

Zip Codes in Eastman, GA