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 1,293 people, 580 houses or apartments, and a median cost of homes of $135,012, house prices in Georgiana are solidly below the national average.
Single-family detached homes are the single most common housing type in Georgiana, accounting for 61.18% of the town's housing units. Other types of housing that are prevalent in Georgiana include mobile homes or trailers ( 21.74%), duplexes, homes converted to apartments or other small apartment buildings ( 13.51%), and a few large apartment complexes or high rise apartments ( 2.09%).
The most prevalent building size and type in Georgiana are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 64.14% owning and 35.86% renting.
There is a lot of housing in Georgiana 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 Georgiana built between 1940-1969 ( 19.29%). A lesser amount of the housing stock also hails from before 1939 ( 5.77%). There's also some housing in Georgiana built between 2000 and later ( 1.72%).
Vacant housing appears to be an issue in Georgiana. Fully 28.75% of the housing stock is classified as vacant. Left unchecked, vacant Georgiana homes and apartments can be a drag on the real estate market, holding Georgiana 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.
Appreciation rates for homes in Georgiana have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 101.18%, which ranks in the top 40% nationwide. This equates to an annual average Georgiana house appreciation rate of 7.24%.
Over the last year, Georgiana appreciation rates have trailed the rest of the nation. In the last twelve months, Georgiana's appreciation rate has been 3.34%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Georgiana were at -1.79%, which equates to an annual appreciation rate of -6.98%.
Notably, Georgiana's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Georgiana's latest annual appreciation rate is higher than 50% of the other cities and towns in Alabama.
$135,012
for Alabama
for nation
580
$1,128 / per month