Thomaston, GA Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Thomaston, GA Housing Market Trends

With 8,752 people, 3,333 houses or apartments, and a median cost of homes of $143,199, house prices in Thomaston are solidly below the national average.

Single-family detached homes are the single most common housing type in Thomaston, accounting for 72.88% of the city's housing units. Other types of housing that are prevalent in Thomaston include duplexes, homes converted to apartments or other small apartment buildings ( 16.12%), large apartment complexes or high rise apartments ( 9.34%), and a few row houses and other attached homes ( 1.66%).

People in Thomaston primarily live in small (one, two or no bedroom) single-family detached homes. Thomaston has a mixture of owner-occupied and renter-occupied housing.

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. Thomaston's housing was primarily built during this period, from the '40s through the '60s. A full 40.48% of the city's housing hails from this era. Other housing ages represented in Thomaston include homes built between 1970-1999 ( 29.09%) and housing constructed before 1939 ( 23.96%). There's also some housing in Thomaston built between 2000 and later ( 6.47%).

Vacant housing appears to be an issue in Thomaston. Fully 12.34% of the housing stock is classified as vacant. Left unchecked, vacant Thomaston homes and apartments can be a drag on the real estate market, holding Thomaston 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.

Thomaston Home Appreciation Rates

Thomaston's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Thomaston during the period has been just 1.88%, which is lower than 70% of US communities.

Appreciation rates are so strong in Thomaston that despite a nationwide downturn in the housing market, Thomaston real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Thomaston appreciation rates continue to be some of the highest in America, at 7.35%, which is higher than appreciation rates in 91.35% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Thomaston. Thomaston appreciation rates in the latest quarter were at 3.04%, which equates to an annual appreciation rate of 12.73%.

Importantly, this makes Thomaston 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 Thomaston's latest annual appreciation rate is higher than 80% 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 Thomaston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Thomaston - 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 Thomaston real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$143,199

Thomaston, GA HOME PRICES

> $1,241,000
0.0%
0.0%
$931,001 - $1,241,000
0.0%
0.0%
$620,001 - $931,000
1.7%
1.7%
$496,001 - $620,000
0.2%
0.2%
$372,001 - $496,000
5.5%
5.5%
$248,001 - $372,000
5.2%
5.2%
$124,001 - $248,000
28.5%
28.5%
$62,001 - $124,000
44.4%
44.4%
$0 - $62,000
14.4%
14.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for GA

Value Relative To Nation

Number Of Homes And Apartments:
3,333

Thomaston Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
39.46% 1.60%
3
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$988 / per month

Homeownership Rate

Owners
44.3%
44.3%
Renters
55.7%
55.7%
Vacant
12.3%
12.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
6.5%
6.5%
1970 - 1999
29.1%
29.1%
1940 - 1969
40.5%
40.5%
1939 or Older
24.0%
24.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
72.9%
72.9%
Townhomes
1.7%
1.7%
Small Apt. Buildings
16.1%
16.1%
Apt. Complexes
9.3%
9.3%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.4%
1.4%
1 Bedroom
16.0%
16.0%
2 Bedrooms
32.3%
32.3%
3 Bedrooms
38.1%
38.1%
4 Bedrooms
9.5%
9.5%
5 or more bedrooms
2.6%
2.6%
0.0% 100.0%
% OF HOMES