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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 2,007, 646 total housing units (homes and apartments), and a median house value of $110,987, house prices in Midway are solidly below the national average.
Single-family detached homes are the single most common housing type in Midway, accounting for 71.62% of the city's housing units. Other types of housing that are prevalent in Midway include mobile homes or trailers ( 25.41%), row houses and other attached homes ( 1.76%), and a few large apartment complexes or high rise apartments ( 1.22%).
The most prevalent building size and type in Midway are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.71% owning and 37.29% renting.
Midway homes and real estate are some of the newest in America. 50.54% of Midway'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 Midway real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 39.86%), and between 1940-1969 ( 9.05%).
Vacant housing appears to be an issue in Midway. Fully 12.70% of the housing stock is classified as vacant. Left unchecked, vacant Midway homes and apartments can be a drag on the real estate market, holding Midway 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.
Homes have actually lost value in Midway over the last then years, as home values have seen a decline of 25.68% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Midway home appreciation rates at -2.88%, which equates to an annual appreciation rate of -11.03%.
Appreciation rates are so strong in Midway that despite a nationwide downturn in the housing market, Midway real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Midway appreciation rates continue to be some of the highest in America, at 6.16%, which is higher than appreciation rates in 75.39% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Midway. Midway appreciation rates in the latest quarter were at -2.88%, which equates to an annual appreciation rate of -11.03%.
Notably, Midway's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Georgia, our data show that Midway's latest annual appreciation rate is higher than 60% of the other cities and towns in Georgia.
|$736,001 - $982,000||0.2|
|$491,001 - $736,000||0.0|
|$393,001 - $491,000||1.0|
|$294,001 - $393,000||1.7|
|$196,001 - $294,000||14.7|
|$98,001 - $196,000||39.9|
|$49,001 - $98,000||23.1|
|$0 - $49,000||19.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Midway HOMES|
|2000 or Newer||50.5|
|1970 - 1999||39.9|
|1940 - 1969||9.1|
|1939 or Older||0.5|
|TYPE OF Midway HOMES|
|Small Apt. Buildings||0.0|
|SIZE OF Midway HOMES|
|5 or more bedrooms||2.84|