Quitman, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Quitman, 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

Quitman Housing Market Information

With 3,871 people, 1,590 houses or apartments, and a median cost of homes of $90,206, house prices in Quitman are solidly below the national average.

Single-family detached homes are the single most common housing type in Quitman, accounting for 75.87% of the city's housing units. Other types of housing that are prevalent in Quitman include duplexes, homes converted to apartments or other small apartment buildings ( 14.66%), large apartment complexes or high rise apartments ( 4.90%), and a few mobile homes or trailers ( 3.53%).

The most prevalent building size and type in Quitman are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.96% owning and 42.04% 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. Quitman's housing was primarily built during this period, from the '40s through the '60s. A full 35.95% of the city's housing hails from this era. Other housing ages represented in Quitman include homes built between 1970-1999 ( 31.68%) and housing constructed before 1939 ( 23.44%). There's also some housing in Quitman built between 2000 and later ( 8.93%).

Vacant housing appears to be an issue in Quitman. Fully 22.02% of the housing stock is classified as vacant. Left unchecked, vacant Quitman homes and apartments can be a drag on the real estate market, holding Quitman 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.

Quitman Home Appreciation Rates

Appreciation rates for homes in Quitman have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.45%, which ranks in the top 50% nationwide. This equates to an annual average Quitman house appreciation rate of 0.34%.

Over the last year, Quitman appreciation rates have trailed the rest of the nation. In the last twelve months, Quitman's appreciation rate has been -0.51%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Quitman were at 1.05%, which equates to an annual appreciation rate of 4.27%.

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

Average Home Values

 

Median Home Value:
$90,206

Quitman, GA HOME PRICES

Value Range
> $1,007,000 0.4
$755,001 - $1,007,000 0.0
$503,001 - $755,000 0.0
$403,001 - $503,000 0.0
$302,001 - $403,000 1.6
$202,001 - $302,000 10.2
$101,001 - $202,000 32.7
$50,001 - $101,000 34.2
$0 - $50,000 20.8

Low for GA
Very Low for Nation

Value Relative to Nation Value Relative to State
83.7747568264385 73.5729386892178

Number Of Homes And Apartments:
1,590

Quitman 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
40.36% 1.99% 9 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$679 / per month

Homeownership Rate

Homeownership
Owners 57.96
Renters 42.04
Vacant 22.02

Housing Market Details

 

Age of Homes

AGE OF Quitman HOMES
2000 or Newer 8.9
1970 - 1999 31.7
1940 - 1969 35.9
1939 or Older 23.4

Types of Homes

TYPE OF Quitman HOMES
Single-Family 75.9
Townhomes 1.0
Small Apt. Buildings 14.7
Apt. Complexes 4.9
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF Quitman HOMES
No Bedroom 2.55
1 Bedroom 5.64
2 Bedrooms 26.04
3 Bedrooms 48.60
4 Bedrooms 13.59
5 or more bedrooms 3.58

Popular Neighborhoods in Quitman

Zip Codes in Quitman, GA