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 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'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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2019 Q2
|* 10 is highest|
|AGE OF Milledgeville HOMES|
|2000 or Newer||27.2|
|1970 - 1999||35.3|
|1940 - 1969||31.2|
|1939 or Older||6.3|
|TYPE OF Milledgeville HOMES|
|Small Apt. Buildings||19.6|
|SIZE OF Milledgeville HOMES|
|5 or more bedrooms||1.44|