Milledgeville, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Milledgeville, GA Real Estate Data


Milledgeville Housing Market Information

With a population of 18,931, 6,126 total housing units (homes and apartments), and a median house value of $143,160, Milledgeville real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Milledgeville, accounting for 51.77% of the city's housing units. Other types of housing that are prevalent in Milledgeville include large apartment complexes or high rise apartments ( 20.67%), duplexes, homes converted to apartments or other small apartment buildings ( 19.35%), and a few mobile homes or trailers ( 5.24%).

Renters dominate Milledgeville's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.

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 ( 30.43%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.81%). There's also some housing in Milledgeville built before 1939 ( 7.98%).

Vacant housing appears to be an issue in Milledgeville. Fully 18.27% 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 -0.82%, which is lower than 70% of US communities.

Over the last year, Milledgeville appreciation rates have trailed the rest of the nation. In the last twelve months, Milledgeville's appreciation rate has been 3.67%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Milledgeville were at 1.23%, which equates to an annual appreciation rate of 5.00%.

Relative to Georgia, our data show that Milledgeville's latest annual appreciation rate is lower 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:
$143,160

Milledgeville, GA HOME PRICES

Value Range
> $1,051,000 0.0
$789,001 - $1,051,000 0.1
$526,001 - $789,000 2.2
$421,001 - $526,000 2.7
$315,001 - $421,000 7.4
$210,001 - $315,000 12.6
$105,001 - $210,000 32.7
$53,001 - $105,000 25.2
$0 - $53,000 17.0

High for GA
Average for Nation

Value Relative to Nation Value Relative to State
54.0668735726416 37.6321353065539

Number Of Homes And Apartments:
6,126

Rent & Ownership

 

Average Market Rent:
$873 / per month

Homeownership Rate

Homeownership
Owners 29.81
Renters 70.19
Vacant 18.27

Housing Market Details

 

Age of Homes

AGE OF Milledgeville HOMES
2000 or Newer 18.8
1970 - 1999 42.8
1940 - 1969 30.4
1939 or Older 8.0

Types of Homes

TYPE OF Milledgeville HOMES
Single-Family 51.8
Townhomes 3.0
Small Apt. Buildings 19.3
Apt. Complexes 20.7
Mobile Homes 5.2
Other 0.0

Home Size

SIZE OF Milledgeville HOMES
No Bedroom 1.17
1 Bedroom 8.91
2 Bedrooms 37.55
3 Bedrooms 41.13
4 Bedrooms 7.77
5 or more bedrooms 3.47

Milledgeville 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
28.47% 1.48% 7 3
* 10 is highest