LaFayette, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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LaFayette, GA Real Estate Data


LaFayette Housing Market Information

With a population of 7,173, 2,993 total housing units (homes and apartments), and a median house value of $101,548, house prices in LaFayette are solidly below the national average.

Single-family detached homes are the single most common housing type in LaFayette, accounting for 72.23% of the city's housing units. Other types of housing that are prevalent in LaFayette include duplexes, homes converted to apartments or other small apartment buildings ( 17.80%), large apartment complexes or high rise apartments ( 8.85%).

The most prevalent building size and type in LaFayette are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.06% owning and 51.94% 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. LaFayette's housing was primarily built during this period, from the '40s through the '60s. A full 40.96% of the city's housing hails from this era. Other housing ages represented in LaFayette include homes built between 1970-1999 ( 36.25%) and housing constructed between 2000 and later ( 11.52%). There's also some housing in LaFayette built before 1939 ( 11.27%).

Vacant housing appears to be an issue in LaFayette. Fully 15.69% of the housing stock is classified as vacant. Left unchecked, vacant LaFayette homes and apartments can be a drag on the real estate market, holding LaFayette 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.

LaFayette Home Appreciation Rates

Real estate appreciation rates in LaFayette's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.42% during the period.

Over the last year, LaFayette appreciation rates have trailed the rest of the nation. In the last twelve months, LaFayette's appreciation rate has been 3.47%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in LaFayette were at 1.04%, which equates to an annual appreciation rate of 4.24%.

Relative to Georgia, our data show that LaFayette's latest annual appreciation rate is lower than 80% of the other cities and towns in Georgia.

Average Home Values

 

Median Home Value:
$101,548

LaFayette, GA HOME PRICES

Value Range
> $1,053,000 0.0
$790,001 - $1,053,000 0.1
$527,001 - $790,000 0.2
$421,001 - $527,000 1.3
$316,001 - $421,000 0.8
$210,001 - $316,000 6.4
$105,001 - $210,000 30.8
$53,001 - $105,000 50.9
$0 - $53,000 9.4

Low for GA
Low for Nation

Value Relative to Nation Value Relative to State
77.8708204017099 66.8076109936575

Number Of Homes And Apartments:
2,993

Rent & Ownership

 

Average Market Rent:
$676 / per month

Homeownership Rate

Homeownership
Owners 48.06
Renters 51.94
Vacant 15.69

Housing Market Details

 

Age of Homes

AGE OF LaFayette HOMES
2000 or Newer 11.5
1970 - 1999 36.3
1940 - 1969 41.0
1939 or Older 11.3

Types of Homes

TYPE OF LaFayette HOMES
Single-Family 72.2
Townhomes 0.4
Small Apt. Buildings 17.8
Apt. Complexes 8.8
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF LaFayette HOMES
No Bedroom 5.35
1 Bedroom 9.94
2 Bedrooms 28.65
3 Bedrooms 51.83
4 Bedrooms 4.00
5 or more bedrooms 0.23

LaFayette 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
23.92% 1.27% 6 2
* 10 is highest