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 about Scout's Real Estate Data
With a population of 964, 402 total housing units (homes and apartments), and a median house value of $88,008, house prices in Norman Park 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 Norman Park, accounting for 56.22% of the city's housing units. Other types of housing that are prevalent in Norman Park include mobile homes or trailers ( 35.71%), duplexes, homes converted to apartments or other small apartment buildings ( 7.37%).
The most prevalent building size and type in Norman Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.24% owning and 47.76% renting.
There is a lot of housing in Norman Park 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 Norman Park built between 1940-1969 ( 23.73%). A lesser amount of the housing stock also hails from before 1939 ( 13.59%). There's also some housing in Norman Park built between 2000 and later ( 8.53%).
Real estate appreciation rates in Norman Park's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.44% during the period.
Appreciation rates are so strong in Norman Park that despite a nationwide downturn in the housing market, Norman Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Norman Park appreciation rates continue to be some of the highest in America, at 6.97%, which is higher than appreciation rates in 73.55% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Norman Park. Norman Park appreciation rates in the latest quarter were at 1.22%, which equates to an annual appreciation rate of 4.98%.
Relative to Georgia, our data show that Norman Park's latest annual appreciation rate is lower than 60% of the other cities and towns in Georgia.
$88,008
for Georgia
for nation
402
$1,379 / per month