Jonesboro, GA Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Jonesboro, GA Housing Market Trends

With a population of 4,962, 1,195 total housing units (homes and apartments), and a median house value of $114,979, house prices in Jonesboro are solidly below the national average.

Single-family detached homes are the single most common housing type in Jonesboro, accounting for 72.56% of the city's housing units. Other types of housing that are prevalent in Jonesboro include duplexes, homes converted to apartments or other small apartment buildings ( 17.17%), large apartment complexes or high rise apartments ( 7.05%), and a few row houses and other attached homes ( 3.00%).

Renters dominate Jonesboro's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.

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. Jonesboro's housing was primarily built during this period, from the '40s through the '60s. A full 47.90% of the city's housing hails from this era. Other housing ages represented in Jonesboro include homes built between 1970-1999 ( 41.75%) and housing constructed between 2000 and later ( 5.32%). There's also some housing in Jonesboro built before 1939 ( 5.02%).

Vacant housing appears to be an issue in Jonesboro. Fully 10.42% of the housing stock is classified as vacant. Left unchecked, vacant Jonesboro homes and apartments can be a drag on the real estate market, holding Jonesboro 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.

Jonesboro Home Appreciation Rates

In the last 10 years, Jonesboro has experienced some of the highest home appreciation rates of any community in the nation. Jonesboro real estate appreciated 63.33% over the last ten years, which is an average annual home appreciation rate of 5.03%, putting Jonesboro in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Jonesboro definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Jonesboro's appreciation rate, at 7.26%, has been at or slightly above the national average. In the latest quarter, Jonesboro's appreciation rate has been 1.97%, which annualizes to a rate of 8.14%.

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

Average Home Values

 

Median Home Value:
$114,979

Jonesboro, GA HOME PRICES

> $1,302,000
2.3%
2.3%
$976,001 - $1,302,000
0.0%
0.0%
$651,001 - $976,000
0.5%
0.5%
$521,001 - $651,000
0.0%
0.0%
$390,001 - $521,000
0.4%
0.4%
$260,001 - $390,000
7.6%
7.6%
$130,001 - $260,000
34.4%
34.4%
$65,001 - $130,000
35.8%
35.8%
$0 - $65,000
19.1%
19.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Low for GA

Value Relative To Nation

Number Of Homes And Apartments:
1,195

Jonesboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
23.75% 1.01%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,148 / per month

Homeownership Rate

Owners
27.1%
27.1%
Renters
72.9%
72.9%
Vacant
10.4%
10.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
5.3%
5.3%
1970 - 1999
41.8%
41.8%
1940 - 1969
47.9%
47.9%
1939 or Older
5.0%
5.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
72.6%
72.6%
Townhomes
3.0%
3.0%
Small Apt. Buildings
17.2%
17.2%
Apt. Complexes
7.0%
7.0%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
3.7%
3.7%
2 Bedrooms
28.0%
28.0%
3 Bedrooms
51.0%
51.0%
4 Bedrooms
15.7%
15.7%
5 or more bedrooms
1.6%
1.6%
0.0% 100.0%
% OF HOMES