Ellijay, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Ellijay, 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

Ellijay Housing Market Information

With a population of 1,680, 693 total housing units (homes and apartments), and a median house value of $159,957, Ellijay real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Ellijay, accounting for 55.27% of the city's housing units. Other types of housing that are prevalent in Ellijay include large apartment complexes or high rise apartments ( 23.77%), duplexes, homes converted to apartments or other small apartment buildings ( 13.58%), and a few mobile homes or trailers ( 6.56%).

People in Ellijay primarily live in small (one, two or no bedroom) single-family detached homes. Ellijay has a mixture of owner-occupied and renter-occupied housing.

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. Ellijay's housing was primarily built during this period, from the '40s through the '60s. A full 40.28% of the city's housing hails from this era. Other housing ages represented in Ellijay include homes built between 1970-1999 ( 32.90%) and housing constructed between 2000 and later ( 19.67%). There's also some housing in Ellijay built before 1939 ( 7.14%).

Vacant housing appears to be an issue in Ellijay. Fully 18.85% of the housing stock is classified as vacant. Left unchecked, vacant Ellijay homes and apartments can be a drag on the real estate market, holding Ellijay 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.

Ellijay Home Appreciation Rates

Ellijay's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Ellijay during the period has been just -1.92%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Ellijay's appreciation rate, at 4.57%, has been at or slightly above the national average. In the latest quarter, Ellijay's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Georgia, our data show that Ellijay's latest annual appreciation rate is higher than 50% 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 Ellijay differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ellijay - 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 Ellijay real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$159,957

Ellijay, GA HOME PRICES

Value Range
> $1,148,000 0.0
$861,001 - $1,148,000 0.0
$574,001 - $861,000 0.4
$459,001 - $574,000 1.2
$344,001 - $459,000 4.5
$229,001 - $344,000 23.8
$115,001 - $229,000 36.1
$58,001 - $115,000 16.4
$0 - $58,000 17.6

High for GA
Average for Nation

Value Relative to Nation Value Relative to State
45.7400679714051 27.2727272727273

Number Of Homes And Apartments:
693

Ellijay 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
24.43% 1.28% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$855 / per month

Homeownership Rate

Homeownership
Owners 36.08
Renters 63.92
Vacant 18.85

Housing Market Details

 

Age of Homes

AGE OF Ellijay HOMES
2000 or Newer 19.7
1970 - 1999 32.9
1940 - 1969 40.3
1939 or Older 7.1

Types of Homes

TYPE OF Ellijay HOMES
Single-Family 55.3
Townhomes 0.8
Small Apt. Buildings 13.6
Apt. Complexes 23.8
Mobile Homes 6.6
Other 0.0

Home Size

SIZE OF Ellijay HOMES
No Bedroom 9.48
1 Bedroom 15.69
2 Bedrooms 28.10
3 Bedrooms 28.92
4 Bedrooms 12.76
5 or more bedrooms 5.04

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Zip Codes in Ellijay, GA