Norcross, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Norcross Neighborhoods Since 2000




Norcross, 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

Norcross Housing Market Information

With a population of 16,634, 4,857 total housing units (homes and apartments), and a median house value of $135,085, house prices in Norcross are solidly below the national average.

Single-family detached homes are the single most common housing type in Norcross, accounting for 46.72% of the city's housing units. Other types of housing that are prevalent in Norcross include large apartment complexes or high rise apartments ( 29.32%), row houses and other attached homes ( 17.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.44%).

The most prevalent building size and type in Norcross are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 44.52% owning and 55.48% renting.

There is a lot of housing in Norcross 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 Norcross built between 2000 and later ( 20.50%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.15%). There's also some housing in Norcross built before 1939 ( 1.72%).

Norcross Home Appreciation Rates

Real estate appreciation rates in Norcross's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.45% during the period.

Appreciation rates are so strong in Norcross that despite a nationwide downturn in the housing market, Norcross real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Norcross appreciation rates continue to be some of the highest in America, at 6.36%, which is higher than appreciation rates in 76.85% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Norcross. Norcross 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 Norcross's latest annual appreciation rate is higher than 70% 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 Norcross differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Norcross - 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 Norcross real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$135,085

Norcross, GA HOME PRICES

Value Range
> $1,282,000 0.0
$962,001 - $1,282,000 0.0
$641,001 - $962,000 2.2
$513,001 - $641,000 2.0
$384,001 - $513,000 3.9
$256,001 - $384,000 14.9
$128,001 - $256,000 40.4
$64,001 - $128,000 29.9
$0 - $64,000 6.7

Average for GA
Average for Nation

Value Relative to Nation Value Relative to State
57.1604359545295 42.0718816067653

Number Of Homes And Apartments:
4,857

Norcross 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
11.23% 0.62% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,150 / per month

Homeownership Rate

Homeownership
Owners 44.52
Renters 55.48
Vacant 8.06

Housing Market Details

 

Age of Homes

AGE OF Norcross HOMES
2000 or Newer 20.5
1970 - 1999 66.6
1940 - 1969 11.1
1939 or Older 1.7

Types of Homes

TYPE OF Norcross HOMES
Single-Family 46.7
Townhomes 17.1
Small Apt. Buildings 6.4
Apt. Complexes 29.3
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Norcross HOMES
No Bedroom 0.47
1 Bedroom 11.36
2 Bedrooms 30.30
3 Bedrooms 38.65
4 Bedrooms 13.97
5 or more bedrooms 5.24