What Is My Home Worth In Statesboro GA?
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STATESBORO HOUSING MARKET INFORMATION
With a population of 31,419, 10,296 total housing units (homes and apartments), and a median house value of $161,733, Statesboro real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Statesboro, accounting for 37.73% of the city’s housing units. Other types of housing that are prevalent in Statesboro include large apartment complexes or high rise apartments ( 36.71%), duplexes, homes converted to apartments or other small apartment buildings ( 20.79%), and a few mobile homes or trailers ( 2.66%).
Statesboro is dominated by renter-occupied one, two, or no bedrooms apartments. 82.50% of Statesboro’s dwellings are rentals.
There is a lot of housing in Statesboro 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 Statesboro built between 2000 and later ( 29.14%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.60%). There’s also some housing in Statesboro built before 1939 ( 5.15%).
Vacant housing appears to be an issue in Statesboro. Fully 14.14% of the housing stock is classified as vacant. Left unchecked, vacant Statesboro homes and apartments can be a drag on the real estate market, holding Statesboro 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.
STATESBORO HOME APPRECIATION RATES
Statesboro’s appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Statesboro during the period has been just -0.67%, which is lower than 80% of US communities.
Appreciation rates are so strong in Statesboro that despite a nationwide downturn in the housing market, Statesboro real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Statesboro appreciation rates continue to be some of the highest in America, at 6.78%, which is higher than appreciation rates in 74.14% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Statesboro. Statesboro appreciation rates in the latest quarter were at 0.89%, which equates to an annual appreciation rate of 3.61%.
Relative to Georgia, our data show that Statesboro’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 Statesboro differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Statesboro – 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 Statesboro real estate investment or home purchase decisions.
Information provided by: https://www.neighborhoodscout.com/ga/statesboro/real-estate