Hapeville, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hapeville, GA Real Estate Data


Hapeville Housing Market Information

With 6,650 people, 2,447 houses or apartments, and a median cost of homes of $140,609, house prices in Hapeville are solidly below the national average.

Single-family detached homes are the single most common housing type in Hapeville, accounting for 59.33% of the city's housing units. Other types of housing that are prevalent in Hapeville include large apartment complexes or high rise apartments ( 26.83%), duplexes, homes converted to apartments or other small apartment buildings ( 11.04%), and a few row houses and other attached homes ( 2.80%).

People in Hapeville primarily live in small (one, two or no bedroom) single-family detached homes. Hapeville 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. Hapeville's housing was primarily built during this period, from the '40s through the '60s. A full 53.41% of the city's housing hails from this era. Other housing ages represented in Hapeville include homes built between 2000 and later ( 25.64%) and housing constructed between 1970-1999 ( 11.87%). There's also some housing in Hapeville built before 1939 ( 9.07%).

Vacant housing appears to be an issue in Hapeville. Fully 21.27% of the housing stock is classified as vacant. Left unchecked, vacant Hapeville homes and apartments can be a drag on the real estate market, holding Hapeville 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.

Hapeville Home Appreciation Rates

Appreciation rates for homes in Hapeville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.01%, which ranks in the top 50% nationwide. This equates to an annual average Hapeville house appreciation rate of 0.59%.

Appreciation rates are so strong in Hapeville that despite a nationwide downturn in the housing market, Hapeville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hapeville appreciation rates continue to be some of the highest in America, at 6.79%, which is higher than appreciation rates in 82.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hapeville. Hapeville appreciation rates in the latest quarter were at 2.99%, which equates to an annual appreciation rate of 12.51%.

Importantly, this makes Hapeville one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$140,609

Hapeville, GA HOME PRICES

Value Range
> $1,154,000 0.0
$865,001 - $1,154,000 0.0
$577,001 - $865,000 2.0
$462,001 - $577,000 0.0
$346,001 - $462,000 0.0
$231,001 - $346,000 12.8
$115,001 - $231,000 50.6
$58,001 - $115,000 30.7
$0 - $58,000 4.0

Average for GA
Average for Nation

Value Relative to Nation Value Relative to State
55.3785793757686 40.169133192389

Number Of Homes And Apartments:
2,447

Rent & Ownership

 

Average Market Rent:
$1,129 / per month

Homeownership Rate

Homeownership
Owners 35.48
Renters 64.52
Vacant 21.27

Housing Market Details

 

Age of Homes

AGE OF Hapeville HOMES
2000 or Newer 25.6
1970 - 1999 11.9
1940 - 1969 53.4
1939 or Older 9.1

Types of Homes

TYPE OF Hapeville HOMES
Single-Family 59.3
Townhomes 2.8
Small Apt. Buildings 11.0
Apt. Complexes 26.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Hapeville HOMES
No Bedroom 0.64
1 Bedroom 11.78
2 Bedrooms 44.43
3 Bedrooms 29.21
4 Bedrooms 12.48
5 or more bedrooms 1.45

Hapeville 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
45.20% 2.22% 9 5
* 10 is highest

Popular Neighborhoods in Hapeville

Zip Codes in Hapeville, GA