Georgetown, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Georgetown, SC Real Estate Data


Georgetown Housing Market Information

With a population of 9,062, 3,442 total housing units (homes and apartments), and a median house value of $135,060, house prices in Georgetown are solidly below the national average.

Single-family detached homes are the single most common housing type in Georgetown, accounting for 69.59% of the city's housing units. Other types of housing that are prevalent in Georgetown include duplexes, homes converted to apartments or other small apartment buildings ( 12.64%), large apartment complexes or high rise apartments ( 11.49%), and a few mobile homes or trailers ( 4.56%).

The most prevalent building size and type in Georgetown are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.47% owning and 39.53% 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. Georgetown's housing was primarily built during this period, from the '40s through the '60s. A full 40.32% of the city's housing hails from this era. Other housing ages represented in Georgetown include homes built between 1970-1999 ( 36.84%) and housing constructed before 1939 ( 12.33%). There's also some housing in Georgetown built between 2000 and later ( 10.52%).

Vacant housing appears to be an issue in Georgetown. Fully 22.30% of the housing stock is classified as vacant. Left unchecked, vacant Georgetown homes and apartments can be a drag on the real estate market, holding Georgetown 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.

Georgetown Home Appreciation Rates

Georgetown's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Georgetown during the period has been just -0.86%, which is lower than 70% of US communities.

Appreciation rates are so strong in Georgetown that despite a nationwide downturn in the housing market, Georgetown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Georgetown appreciation rates continue to be some of the highest in America, at 6.40%, which is higher than appreciation rates in 78.97% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Georgetown. Georgetown appreciation rates in the latest quarter were at -0.61%, which equates to an annual appreciation rate of -2.43%.

Notably, Georgetown's appreciation rate in the latest quarter is one of the lowest in America.

Relative to South Carolina, our data show that Georgetown's latest annual appreciation rate is higher than 60% of the other cities and towns in South Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Georgetown differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Georgetown - 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 Georgetown real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$135,060

Georgetown, SC HOME PRICES

Value Range
> $1,035,000 1.4
$776,001 - $1,035,000 0.2
$517,001 - $776,000 3.0
$414,001 - $517,000 2.1
$311,001 - $414,000 5.9
$207,001 - $311,000 8.9
$103,001 - $207,000 38.9
$52,001 - $103,000 20.7
$0 - $52,000 18.9

High for SC
Average for Nation

Value Relative to Nation Value Relative to State
58.154242548457 31.9702602230483

Number Of Homes And Apartments:
3,442

Rent & Ownership

 

Average Market Rent:
$898 / per month

Homeownership Rate

Homeownership
Owners 60.47
Renters 39.53
Vacant 22.30

Housing Market Details

 

Age of Homes

AGE OF Georgetown HOMES
2000 or Newer 10.5
1970 - 1999 36.8
1940 - 1969 40.3
1939 or Older 12.3

Types of Homes

TYPE OF Georgetown HOMES
Single-Family 69.6
Townhomes 1.3
Small Apt. Buildings 12.6
Apt. Complexes 11.5
Mobile Homes 4.6
Other 0.4

Home Size

SIZE OF Georgetown HOMES
No Bedroom 3.02
1 Bedroom 11.58
2 Bedrooms 22.33
3 Bedrooms 45.87
4 Bedrooms 12.78
5 or more bedrooms 4.42

Georgetown Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
46.35% 2.27% 8 6
* 10 is highest

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Zip Codes in Georgetown, SC