Waycross, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Waycross Neighborhoods Since 2000




Waycross, 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

Waycross Housing Market Information

With 14,053 people, 6,087 houses or apartments, and a median cost of homes of $71,688, house prices in Waycross 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 Waycross, accounting for 69.47% of the city's housing units. Other types of housing that are prevalent in Waycross include large apartment complexes or high rise apartments ( 12.50%), duplexes, homes converted to apartments or other small apartment buildings ( 9.13%), and a few mobile homes or trailers ( 7.18%).

The most prevalent building size and type in Waycross are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.85% owning and 51.15% 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. Waycross's housing was primarily built during this period, from the '40s through the '60s. A full 35.67% of the city's housing hails from this era. Other housing ages represented in Waycross include homes built between 1970-1999 ( 33.60%) and housing constructed before 1939 ( 23.01%). There's also some housing in Waycross built between 2000 and later ( 7.72%).

Vacant housing appears to be an issue in Waycross. Fully 18.86% of the housing stock is classified as vacant. Left unchecked, vacant Waycross homes and apartments can be a drag on the real estate market, holding Waycross 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.

Waycross Home Appreciation Rates

Waycross's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Waycross during the period has been just -0.98%, which is lower than 70% of US communities.

Over the last year, Waycross appreciation rates have trailed the rest of the nation. In the last twelve months, Waycross's appreciation rate has been -0.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Waycross were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$71,688

Waycross, GA HOME PRICES

Value Range
> $1,047,000 0.1
$786,001 - $1,047,000 0.4
$524,001 - $786,000 0.4
$419,001 - $524,000 0.0
$314,001 - $419,000 2.4
$210,001 - $314,000 3.7
$105,001 - $210,000 26.7
$52,001 - $105,000 36.4
$0 - $52,000 29.9

Very Low for GA
Very Low for Nation

Value Relative to Nation Value Relative to State
94.5974452127036 89.2177589852008

Number Of Homes And Apartments:
6,087

Waycross 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
23.34% 1.22% 6 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$784 / per month

Homeownership Rate

Homeownership
Owners 48.85
Renters 51.15
Vacant 18.86

Housing Market Details

 

Age of Homes

AGE OF Waycross HOMES
2000 or Newer 7.7
1970 - 1999 33.6
1940 - 1969 35.7
1939 or Older 23.0

Types of Homes

TYPE OF Waycross HOMES
Single-Family 69.5
Townhomes 1.7
Small Apt. Buildings 9.1
Apt. Complexes 12.5
Mobile Homes 7.2
Other 0.0

Home Size

SIZE OF Waycross HOMES
No Bedroom 1.77
1 Bedroom 7.74
2 Bedrooms 31.07
3 Bedrooms 48.92
4 Bedrooms 8.22
5 or more bedrooms 2.27