Rome GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Rome, 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Rome Housing Market Information

With 36,716 people, 13,994 houses or apartments, and a median cost of homes of $162,605, house prices in Rome are solidly below the national average.

Mobile homes or trailers are the single most common housing type in Rome, accounting for 0.00% of the city's housing units.

The most prevalent building size and type in Rome are three and four bedroom dwellings, chiefly found in mobile homes or trailers. The city has a mixture of owners and renters, with 43.50% owning and 56.50% renting.

There is a lot of housing in Rome 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 Rome built between 1940-1969 ( 35.01%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.51%). There's also some housing in Rome built before 1939 ( 13.85%).

Vacant housing appears to be an issue in Rome. Fully 11.30% of the housing stock is classified as vacant. Left unchecked, vacant Rome homes and apartments can be a drag on the real estate market, holding Rome 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.

Rome Home Appreciation Rates

Rome's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rome during the period has been just 1.55%, which is lower than 70% of US communities.

Over the last year, Rome appreciation rates have trailed the rest of the nation. In the last twelve months, Rome's appreciation rate has been 3.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rome were at 2.22%, which equates to an annual appreciation rate of 9.20%.

Importantly, this makes Rome one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Georgia, our data show that Rome's latest annual appreciation rate is lower than 90% 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 Rome differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rome - 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 Rome real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$162,605

Rome, GA HOME PRICES

Value Range
> $1,223,000 0.3
$917,001 - $1,223,000 0.2
$612,001 - $917,000 3.1
$489,001 - $612,000 1.8
$367,001 - $489,000 5.6
$245,001 - $367,000 9.2
$122,001 - $245,000 34.5
$61,001 - $122,000 33.6
$0 - $61,000 11.7

Average for GA
Average for Nation

Value Relative to Nation Value Relative to State
56.2569343065693 42.1940928270042

Number Of Homes And Apartments:
13,994

Rome Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
34.33% 1.43%
3
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$992 / per month

Homeownership Rate

Homeownership
Owners 43.50
Renters 56.50
Vacant 11.30

Housing Market Details

 

Age of Homes

AGE OF Rome HOMES
2000 or Newer 14.5
1970 - 1999 36.6
1940 - 1969 35.0
1939 or Older 13.9

Types of Homes

TYPE OF Rome HOMES
Single-Family 0.0
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Rome HOMES
No Bedroom 2.78
1 Bedroom 12.96
2 Bedrooms 31.62
3 Bedrooms 37.79
4 Bedrooms 11.41
5 or more bedrooms 3.45