Morrow, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Morrow Neighborhoods Since 2000




Morrow, 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

Morrow Housing Market Information

With a population of 7,338, 2,364 total housing units (homes and apartments), and a median house value of $124,456, house prices in Morrow are solidly below the national average.

Single-family detached homes are the single most common housing type in Morrow, accounting for 61.08% of the city's housing units. Other types of housing that are prevalent in Morrow include large apartment complexes or high rise apartments ( 29.62%), duplexes, homes converted to apartments or other small apartment buildings ( 5.95%), and a few row houses and other attached homes ( 3.10%).

The most prevalent building size and type in Morrow are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.32% owning and 43.68% renting.

There is a lot of housing in Morrow 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 Morrow built between 1940-1969 ( 30.30%). A lesser amount of the housing stock also hails from between 2000 and later ( 24.24%).

Vacant housing appears to be an issue in Morrow. Fully 14.72% of the housing stock is classified as vacant. Left unchecked, vacant Morrow homes and apartments can be a drag on the real estate market, holding Morrow 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.

Morrow Home Appreciation Rates

Homes have actually lost value in Morrow over the last then years, as home values have seen a decline of 30.35% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Morrow home appreciation rates at 1.10%, which equates to an annual appreciation rate of 4.47%.

Appreciation rates are so strong in Morrow that despite a nationwide downturn in the housing market, Morrow real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Morrow appreciation rates continue to be some of the highest in America, at 9.10%, which is higher than appreciation rates in 91.07% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Morrow. Morrow appreciation rates in the latest quarter were at 1.10%, which equates to an annual appreciation rate of 4.47%.

Relative to Georgia, our data show that Morrow's latest annual appreciation rate is higher than 90% of the other cities and towns in Georgia.

Average Home Values

 

Median Home Value:
$124,456

Morrow, GA HOME PRICES

Value Range
> $1,428,000 0.0
$1,070,001 - $1,428,000 0.0
$714,001 - $1,070,000 0.9
$571,001 - $714,000 0.0
$429,001 - $571,000 0.3
$286,001 - $429,000 8.2
$143,001 - $286,000 22.9
$71,001 - $143,000 51.6
$0 - $71,000 16.0

Average for GA
Low for Nation

Value Relative to Nation Value Relative to State
62.8618305402555 48.6257928118393

Number Of Homes And Apartments:
2,364

Morrow 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
-17.46% -1.11% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,038 / per month

Homeownership Rate

Homeownership
Owners 56.32
Renters 43.68
Vacant 14.72

Housing Market Details

 

Age of Homes

AGE OF Morrow HOMES
2000 or Newer 24.2
1970 - 1999 45.2
1940 - 1969 30.3
1939 or Older 0.2

Types of Homes

TYPE OF Morrow HOMES
Single-Family 61.1
Townhomes 3.1
Small Apt. Buildings 6.0
Apt. Complexes 29.6
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Morrow HOMES
No Bedroom 0.00
1 Bedroom 5.88
2 Bedrooms 17.82
3 Bedrooms 43.18
4 Bedrooms 26.62
5 or more bedrooms 6.49