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 7,707 people, 2,451 houses or apartments, and a median cost of homes of $296,371, Commerce 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 Commerce, accounting for 79.12% of the city's housing units. Other types of housing that are prevalent in Commerce include large apartment complexes or high rise apartments ( 12.64%), mobile homes or trailers ( 5.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.10%).
The most prevalent building size and type in Commerce are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.90% owning and 36.10% renting.
There is a lot of housing in Commerce 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 Commerce built between 2000 and later ( 25.10%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.68%). There's also some housing in Commerce built before 1939 ( 11.38%).
In the last 10 years, Commerce has experienced some of the highest home appreciation rates of any community in the nation. Commerce real estate appreciated 146.89% over the last ten years, which is an average annual home appreciation rate of 9.46%, putting Commerce in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Commerce definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Commerce appreciation rates have trailed the rest of the nation. In the last twelve months, Commerce's appreciation rate has been 4.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Commerce were at 0.64%, which equates to an annual appreciation rate of 2.59%.
Relative to Georgia, our data show that Commerce's latest annual appreciation rate is lower than 80% of the other cities and towns in Georgia.
$296,371
for Georgia
for nation
2,451
$1,846 / per month