Forest Park, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Forest Park Neighborhoods Since 2000




Forest Park, 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

Forest Park Housing Market Information

With a population of 19,383, 5,817 total housing units (homes and apartments), and a median house value of $64,907, house prices in Forest Park 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 Forest Park, accounting for 64.41% of the city's housing units. Other types of housing that are prevalent in Forest Park include large apartment complexes or high rise apartments ( 23.80%), duplexes, homes converted to apartments or other small apartment buildings ( 7.57%), and a few row houses and other attached homes ( 2.23%).

The most prevalent building size and type in Forest Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 44.10% owning and 55.90% 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. Forest Park's housing was primarily built during this period, from the '40s through the '60s. A full 59.43% of the city's housing hails from this era. Other housing ages represented in Forest Park include homes built between 1970-1999 ( 27.79%) and housing constructed between 2000 and later ( 11.25%). There's also some housing in Forest Park built before 1939 ( 1.53%).

Vacant housing appears to be an issue in Forest Park. Fully 20.57% of the housing stock is classified as vacant. Left unchecked, vacant Forest Park homes and apartments can be a drag on the real estate market, holding Forest Park 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.

Forest Park Home Appreciation Rates

Homes have actually lost value in Forest Park over the last then years, as home values have seen a decline of 37.71% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Forest Park home appreciation rates at 1.10%, which equates to an annual appreciation rate of 4.47%.

Appreciation rates are so strong in Forest Park that despite a nationwide downturn in the housing market, Forest Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Forest Park appreciation rates continue to be some of the highest in America, at 6.91%, which is higher than appreciation rates in 80.72% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Forest Park. Forest Park appreciation rates in the latest quarter were at 1.10%, which equates to an annual appreciation rate of 4.47%.

Relative to Georgia, our data show that Forest Park'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 Forest Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Forest Park - 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 Forest Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$64,907

Forest Park, GA HOME PRICES

Value Range
> $1,177,000 0.0
$883,001 - $1,177,000 0.0
$588,001 - $883,000 0.2
$471,001 - $588,000 0.0
$353,001 - $471,000 1.5
$236,001 - $353,000 1.1
$118,001 - $236,000 15.3
$59,001 - $118,000 43.1
$0 - $59,000 38.6

Very Low for GA
Very Low for Nation

Value Relative to Nation Value Relative to State
96.7772178600727 92.600422832981

Number Of Homes And Apartments:
5,817

Forest Park 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
-26.03% -1.73% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,039 / per month

Homeownership Rate

Homeownership
Owners 44.10
Renters 55.90
Vacant 20.57

Housing Market Details

 

Age of Homes

AGE OF Forest Park HOMES
2000 or Newer 11.3
1970 - 1999 27.8
1940 - 1969 59.4
1939 or Older 1.5

Types of Homes

TYPE OF Forest Park HOMES
Single-Family 64.4
Townhomes 2.2
Small Apt. Buildings 7.6
Apt. Complexes 23.8
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Forest Park HOMES
No Bedroom 1.02
1 Bedroom 4.98
2 Bedrooms 41.62
3 Bedrooms 39.96
4 Bedrooms 8.84
5 or more bedrooms 3.58