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 1,927 people, 819 houses or apartments, and a median cost of homes of $398,923, Ellijay real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Ellijay, accounting for 49.84% of the city's housing units. Other types of housing that are prevalent in Ellijay include large apartment complexes or high rise apartments ( 27.46%), duplexes, homes converted to apartments or other small apartment buildings ( 20.86%), and a few mobile homes or trailers ( 1.84%).
Ellijay is dominated by renter-occupied one, two, or no bedrooms apartments. 72.55% of Ellijay's dwellings are rentals.
There is a lot of housing in Ellijay 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 Ellijay built between 1940-1969 ( 27.46%). A lesser amount of the housing stock also hails from between 2000 and later ( 25.62%). There's also some housing in Ellijay built before 1939 ( 3.24%).
Vacant housing appears to be an issue in Ellijay. Fully 11.46% of the housing stock is classified as vacant. Left unchecked, vacant Ellijay homes and apartments can be a drag on the real estate market, holding Ellijay 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.
In the last 10 years, Ellijay has experienced some of the highest home appreciation rates of any community in the nation. Ellijay real estate appreciated 135.55% over the last ten years, which is an average annual home appreciation rate of 8.95%, putting Ellijay in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Ellijay 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, Ellijay appreciation rates have trailed the rest of the nation. In the last twelve months, Ellijay's appreciation rate has been 3.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ellijay were at 0.64%, which equates to an annual appreciation rate of 2.59%.
Relative to Georgia, our data show that Ellijay's latest annual appreciation rate is lower than 90% 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 Ellijay differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ellijay - 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 Ellijay real estate investment or home purchase decisions.
$398,923
for Georgia
for nation
819
$1,518 / per month