Lovejoy, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Lovejoy Neighborhoods Since 2000




Lovejoy, GA Real Estate Data


Lovejoy Housing Market Information

With a population of 6,487, 2,009 total housing units (homes and apartments), and a median house value of $132,542, house prices in Lovejoy are solidly below the national average.

Single-family detached homes are the single most common housing type in Lovejoy, accounting for 43.85% of the city's housing units. Other types of housing that are prevalent in Lovejoy include large apartment complexes or high rise apartments ( 29.15%), row houses and other attached homes ( 15.25%), and a few mobile homes or trailers ( 11.53%).

The most prevalent building size and type in Lovejoy are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 46.30% owning and 53.70% renting.

Lovejoy homes and real estate are some of the newest in America. 81.33% of Lovejoy's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Lovejoy real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 15.12%), and between 1940-1969 ( 3.55%).

Vacant housing appears to be an issue in Lovejoy. Fully 15.12% of the housing stock is classified as vacant. Left unchecked, vacant Lovejoy homes and apartments can be a drag on the real estate market, holding Lovejoy 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.

Lovejoy Home Appreciation Rates

Homes have actually lost value in Lovejoy over the last then years, as home values have seen a decline of 24.35% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Lovejoy home appreciation rates at 2.99%, which equates to an annual appreciation rate of 12.51%.

Appreciation rates are so strong in Lovejoy that despite a nationwide downturn in the housing market, Lovejoy real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lovejoy appreciation rates continue to be some of the highest in America, at 7.67%, which is higher than appreciation rates in 89.60% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lovejoy. Lovejoy appreciation rates in the latest quarter were at 2.99%, which equates to an annual appreciation rate of 12.51%.

Importantly, this makes Lovejoy 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 Lovejoy's latest annual appreciation rate is higher than 80% of the other cities and towns in Georgia.

Average Home Values

 

Median Home Value:
$132,542

Lovejoy, GA HOME PRICES

Value Range
> $1,204,000 0.0
$903,001 - $1,204,000 0.0
$602,001 - $903,000 0.1
$481,001 - $602,000 0.0
$361,001 - $481,000 1.0
$241,001 - $361,000 7.6
$120,001 - $241,000 44.7
$60,001 - $120,000 35.6
$0 - $60,000 11.1

Average for GA
Average for Nation

Value Relative to Nation Value Relative to State
59.3986063125842 44.3974630021142

Number Of Homes And Apartments:
2,009

Rent & Ownership

 

Average Market Rent:
$1,241 / per month

Homeownership Rate

Homeownership
Owners 46.30
Renters 53.70
Vacant 15.12

Housing Market Details

 

Age of Homes

AGE OF Lovejoy HOMES
2000 or Newer 81.3
1970 - 1999 15.1
1940 - 1969 3.5
1939 or Older 0.0

Types of Homes

TYPE OF Lovejoy HOMES
Single-Family 43.9
Townhomes 15.3
Small Apt. Buildings 0.2
Apt. Complexes 29.2
Mobile Homes 11.5
Other 0.0

Home Size

SIZE OF Lovejoy HOMES
No Bedroom 0.00
1 Bedroom 11.11
2 Bedrooms 21.00
3 Bedrooms 43.68
4 Bedrooms 19.73
5 or more bedrooms 4.48

Lovejoy 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
-11.69% -0.73% 1 1
* 10 is highest