Millen, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Millen Neighborhoods Since 2000




Millen, 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Millen Housing Market Information

With 2,925 people, 1,102 houses or apartments, and a median cost of homes of $57,144, house prices in Millen are some of the most affordable in Georgia as well as the nation.

Single-family detached homes are the single most common housing type in Millen, accounting for 79.03% of the city's housing units. Other types of housing that are prevalent in Millen include large apartment complexes or high rise apartments ( 10.10%), mobile homes or trailers ( 9.27%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.60%).

The most prevalent building size and type in Millen are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.23% owning and 40.77% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Millen's housing was primarily built during this period, from the '40s through the '60s. A full 53.96% of the city's housing hails from this era. Other housing ages represented in Millen include homes built between 1970-1999 ( 30.88%) and housing constructed before 1939 ( 12.92%). There's also some housing in Millen built between 2000 and later ( 2.24%).

Vacant housing appears to be an issue in Millen. Fully 29.54% of the housing stock is classified as vacant. Left unchecked, vacant Millen homes and apartments can be a drag on the real estate market, holding Millen 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.

Millen Home Appreciation Rates

Millen's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Millen during the period has been just -2.08%, which is lower than 80% of US communities.

Over the last year, Millen appreciation rates have trailed the rest of the nation. In the last twelve months, Millen's appreciation rate has been 1.92%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Millen were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Georgia, our data show that Millen's latest annual appreciation rate is lower than 70% of the other cities and towns in Georgia.

Average Home Values

 

Median Home Value:
$57,144

Millen, GA HOME PRICES

Value Range
> $1,069,000 2.2
$801,001 - $1,069,000 0.0
$534,001 - $801,000 2.0
$427,001 - $534,000 0.0
$321,001 - $427,000 0.0
$214,001 - $321,000 7.1
$107,001 - $214,000 15.5
$54,001 - $107,000 25.3
$0 - $54,000 47.9

Very Low for GA
Very Low for Nation

Value Relative to Nation Value Relative to State
98.5058010078519 96.8287526427061

Number Of Homes And Apartments:
1,102

Millen Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
21.59% 1.14% 6 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$609 / per month

Homeownership Rate

Homeownership
Owners 59.23
Renters 40.77
Vacant 29.54

Housing Market Details

 

Age of Homes

AGE OF Millen HOMES
2000 or Newer 2.2
1970 - 1999 30.9
1940 - 1969 54.0
1939 or Older 12.9

Types of Homes

TYPE OF Millen HOMES
Single-Family 79.0
Townhomes 0.0
Small Apt. Buildings 1.6
Apt. Complexes 10.1
Mobile Homes 9.3
Other 0.0

Home Size

SIZE OF Millen HOMES
No Bedroom 7.86
1 Bedroom 0.00
2 Bedrooms 39.71
3 Bedrooms 45.33
4 Bedrooms 6.27
5 or more bedrooms 0.83

Popular Neighborhoods in Millen

Zip Codes in Millen, GA