Milledgeville GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Milledgeville, GA Real Estate Data

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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Milledgeville Housing Market Information

With a population of 18,614, 6,000 total housing units (homes and apartments), and a median house value of $227,413, Milledgeville real estate prices are well above average cost compared to national prices.

Mobile homes or trailers are the single most common housing type in Milledgeville, accounting for 0.00% of the city's housing units.

Milledgeville is dominated by renter-occupied one, two, or no bedrooms apartments. 72.94% of Milledgeville's dwellings are rentals.

There is a lot of housing in Milledgeville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Milledgeville built between 1940-1969 ( 28.68%). A lesser amount of the housing stock also hails from between 2000 and later ( 28.54%). There's also some housing in Milledgeville built before 1939 ( 5.70%).

Vacant housing appears to be an issue in Milledgeville. Fully 19.33% of the housing stock is classified as vacant. Left unchecked, vacant Milledgeville homes and apartments can be a drag on the real estate market, holding Milledgeville 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.

Milledgeville Home Appreciation Rates

Real estate appreciation rates in Milledgeville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.65% during the period.

Appreciation rates are so strong in Milledgeville that despite a nationwide downturn in the housing market, Milledgeville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Milledgeville appreciation rates continue to be some of the highest in America, at 9.50%, which is higher than appreciation rates in 92.28% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Milledgeville. Milledgeville appreciation rates in the latest quarter were at 1.95%, which equates to an annual appreciation rate of 8.04%.

Importantly, this makes Milledgeville 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 Milledgeville's latest annual appreciation rate is higher than 80% 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 Milledgeville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Milledgeville - 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 Milledgeville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$227,413

Milledgeville, GA HOME PRICES

Value Range
> $1,297,000 0.2
$973,001 - $1,297,000 0.3
$649,001 - $973,000 1.4
$519,001 - $649,000 2.3
$389,001 - $519,000 7.9
$260,001 - $389,000 13.9
$130,001 - $260,000 37.1
$65,001 - $130,000 22.4
$0 - $65,000 14.6

Very High for GA
High for Nation

Value Relative to Nation Value Relative to State
33.1970802919708 17.7215189873418

Number Of Homes And Apartments:
6,000

Milledgeville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
53.32% 2.13%
7
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$932 / per month

Homeownership Rate

Homeownership
Owners 27.06
Renters 72.94
Vacant 19.33

Housing Market Details

 

Age of Homes

AGE OF Milledgeville HOMES
2000 or Newer 28.5
1970 - 1999 37.1
1940 - 1969 28.7
1939 or Older 5.7

Types of Homes

TYPE OF Milledgeville HOMES
Single-Family 0.0
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Milledgeville HOMES
No Bedroom 2.08
1 Bedroom 9.84
2 Bedrooms 39.84
3 Bedrooms 35.79
4 Bedrooms 11.06
5 or more bedrooms 1.38