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 36,716 people, 14,169 houses or apartments, and a median cost of homes of $160,458, house prices in Rome are solidly below the national average.
Single-family detached homes are the single most common housing type in Rome, accounting for 63.09% of the city's housing units. Other types of housing that are prevalent in Rome include large apartment complexes or high rise apartments ( 19.08%), duplexes, homes converted to apartments or other small apartment buildings ( 13.57%), and a few row houses and other attached homes ( 3.05%).
The most prevalent building size and type in Rome are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 44.22% owning and 55.78% 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 ( 33.90%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.44%). There's also some housing in Rome built before 1939 ( 13.87%).
Vacant housing appears to be an issue in Rome. Fully 11.10% 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'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 1.95%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Rome's appreciation rate, at 5.99%, has been at or slightly above the national average. In the latest quarter, Rome's appreciation rate has been 2.25%, which annualizes to a rate of 9.32%.
Relative to Georgia, our data show that Rome's latest annual appreciation rate is lower than 60% 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 for Nation
Average for GA
