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 5,004 people, 1,535 houses or apartments, and a median cost of homes of $173,278, house prices in Cornelia are solidly below the national average.
Single-family detached homes are the single most common housing type in Cornelia, accounting for 63.94% of the city's housing units. Other types of housing that are prevalent in Cornelia include large apartment complexes or high rise apartments ( 15.40%), duplexes, homes converted to apartments or other small apartment buildings ( 8.90%), and a few mobile homes or trailers ( 6.15%).
The most prevalent building size and type in Cornelia are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.98% owning and 42.02% renting.
There is a lot of housing in Cornelia 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 Cornelia built between 1940-1969 ( 25.91%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.43%). There's also some housing in Cornelia built before 1939 ( 1.91%).
In the last 10 years, Cornelia has experienced some of the highest home appreciation rates of any community in the nation. Cornelia real estate appreciated 118.06% over the last ten years, which is an average annual home appreciation rate of 8.11%, putting Cornelia in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cornelia definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Cornelia's appreciation rate, at 7.58%, has been at or slightly above the national average. In the latest quarter, Cornelia's appreciation rate has been 0.64%, which annualizes to a rate of 2.59%.
Relative to Georgia, our data show that Cornelia's latest annual appreciation rate is lower than 50% of the other cities and towns in Georgia.
$173,278
for Georgia
for nation
1,535
$1,590 / per month