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 4,389 people, 1,945 houses or apartments, and a median cost of homes of $123,327, house prices in Summerville 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 Summerville, accounting for 63.31% of the city's housing units. Other types of housing that are prevalent in Summerville include large apartment complexes or high rise apartments ( 14.76%), duplexes, homes converted to apartments or other small apartment buildings ( 13.67%), and a few mobile homes or trailers ( 7.85%).
The most prevalent building size and type in Summerville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 40.38% owning and 59.62% renting.
There is a lot of housing in Summerville 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 Summerville built between 1940-1969 ( 38.09%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.39%). There's also some housing in Summerville built before 1939 ( 8.48%).
Vacant housing appears to be an issue in Summerville. Fully 12.23% of the housing stock is classified as vacant. Left unchecked, vacant Summerville homes and apartments can be a drag on the real estate market, holding Summerville 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.
In the last 10 years, Summerville has experienced some of the highest home appreciation rates of any community in the nation. Summerville real estate appreciated 110.79% over the last ten years, which is an average annual home appreciation rate of 7.74%, putting Summerville in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Summerville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Summerville that despite a nationwide downturn in the housing market, Summerville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Summerville appreciation rates continue to be some of the highest in America, at 6.97%, which is higher than appreciation rates in 73.83% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Summerville. Summerville 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 Summerville's latest annual appreciation rate is lower than 50% 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 Summerville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Summerville - 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 Summerville real estate investment or home purchase decisions.
$123,327
for Georgia
for nation
1,945
$1,008 / per month