Elberton, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Elberton, 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

Elberton Housing Market Information

With 4,453 people, 1,820 houses or apartments, and a median cost of homes of $77,724, house prices in Elberton 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 Elberton, accounting for 80.02% of the city's housing units. Other types of housing that are prevalent in Elberton include large apartment complexes or high rise apartments ( 10.63%), duplexes, homes converted to apartments or other small apartment buildings ( 4.41%), and a few mobile homes or trailers ( 4.27%).

The most prevalent building size and type in Elberton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.24% owning and 45.76% 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. Elberton's housing was primarily built during this period, from the '40s through the '60s. A full 55.09% of the city's housing hails from this era. Other housing ages represented in Elberton include homes built between 1970-1999 ( 29.47%) and housing constructed before 1939 ( 14.31%). There's also some housing in Elberton built between 2000 and later ( 1.14%).

Vacant housing appears to be an issue in Elberton. Fully 17.35% of the housing stock is classified as vacant. Left unchecked, vacant Elberton homes and apartments can be a drag on the real estate market, holding Elberton 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.

Elberton Home Appreciation Rates

Elberton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Elberton during the period has been just -1.47%, which is lower than 80% of US communities.

Over the last year, Elberton appreciation rates have trailed the rest of the nation. In the last twelve months, Elberton's appreciation rate has been 2.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elberton were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Georgia, our data show that Elberton's latest annual appreciation rate is lower than 60% of the other cities and towns in Georgia.

Average Home Values

 

Median Home Value:
$77,724

Elberton, GA HOME PRICES

Value Range
> $1,064,000 0.4
$798,001 - $1,064,000 0.1
$532,001 - $798,000 1.8
$426,001 - $532,000 0.0
$319,001 - $426,000 0.3
$213,001 - $319,000 4.2
$106,001 - $213,000 22.4
$53,001 - $106,000 46.7
$0 - $53,000 24.1

Very Low for GA
Very Low for Nation

Value Relative to Nation Value Relative to State
91.8317121762569 84.7780126849894

Number Of Homes And Apartments:
1,820

Elberton 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
1.70% 0.10% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$845 / per month

Homeownership Rate

Homeownership
Owners 54.24
Renters 45.76
Vacant 17.35

Housing Market Details

 

Age of Homes

AGE OF Elberton HOMES
2000 or Newer 1.1
1970 - 1999 29.5
1940 - 1969 55.1
1939 or Older 14.3

Types of Homes

TYPE OF Elberton HOMES
Single-Family 80.0
Townhomes 0.7
Small Apt. Buildings 4.4
Apt. Complexes 10.6
Mobile Homes 4.3
Other 0.0

Home Size

SIZE OF Elberton HOMES
No Bedroom 0.00
1 Bedroom 7.13
2 Bedrooms 38.28
3 Bedrooms 42.96
4 Bedrooms 10.54
5 or more bedrooms 1.09

Popular Communities Near Elberton, GA

Zip Codes in Elberton, GA