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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (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 18,575, 6,307 total housing units (homes and apartments), and a median house value of $202,121, Milledgeville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Milledgeville, accounting for 45.73% of the city's housing units. Other types of housing that are prevalent in Milledgeville include large apartment complexes or high rise apartments ( 28.11%), duplexes, homes converted to apartments or other small apartment buildings ( 19.60%), and a few mobile homes or trailers ( 3.40%).

Milledgeville is dominated by renter-occupied one, two, or no bedrooms apartments. 73.08% 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 ( 31.20%). A lesser amount of the housing stock also hails from between 2000 and later ( 27.17%). There's also some housing in Milledgeville built before 1939 ( 6.32%).

Vacant housing appears to be an issue in Milledgeville. Fully 17.59% 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

Milledgeville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Milledgeville during the period has been just 0.05%, which is lower than 80% of US communities.

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 7.01%, which is higher than appreciation rates in 90.28% 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 1.54%, which equates to an annual appreciation rate of 6.31%.

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:
$202,121

Milledgeville, GA HOME PRICES

Value Range
> $1,175,000 0.2
$881,001 - $1,175,000 0.2
$587,001 - $881,000 1.4
$470,001 - $587,000 2.2
$353,001 - $470,000 8.5
$235,001 - $353,000 11.4
$118,001 - $235,000 36.5
$59,001 - $118,000 21.1
$0 - $59,000 18.3

High for GA
High for Nation

Value Relative to Nation Value Relative to State
37.6467153284672 20.6751054852321

Number Of Homes And Apartments:
6,307

Milledgeville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
41.39% 1.79%
6
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$987 / per month

Homeownership Rate

Homeownership
Owners 26.92
Renters 73.08
Vacant 17.59

Housing Market Details

 

Age of Homes

AGE OF Milledgeville HOMES
2000 or Newer 27.2
1970 - 1999 35.3
1940 - 1969 31.2
1939 or Older 6.3

Types of Homes

TYPE OF Milledgeville HOMES
Single-Family 45.7
Townhomes 3.2
Small Apt. Buildings 19.6
Apt. Complexes 28.1
Mobile Homes 3.4
Other 0.0

Home Size

SIZE OF Milledgeville HOMES
No Bedroom 2.00
1 Bedroom 9.50
2 Bedrooms 40.70
3 Bedrooms 35.65
4 Bedrooms 10.71
5 or more bedrooms 1.44