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 2,167 people, 891 houses or apartments, and a median cost of homes of $221,374, house prices in Lavonia are solidly below the national average.
Single-family detached homes are the single most common housing type in Lavonia, accounting for 60.94% of the city's housing units. Other types of housing that are prevalent in Lavonia include mobile homes or trailers ( 20.07%), large apartment complexes or high rise apartments ( 11.12%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.87%).
People in Lavonia primarily live in small (one, two or no bedroom) single-family detached homes. Lavonia has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Lavonia's housing was primarily built during this period, from the '40s through the '60s. A full 35.08% of the city's housing hails from this era. Other housing ages represented in Lavonia include homes built between 1970-1999 ( 27.49%) and housing constructed between 2000 and later ( 26.76%). There's also some housing in Lavonia built before 1939 ( 10.67%).
Vacant housing appears to be an issue in Lavonia. Fully 19.44% of the housing stock is classified as vacant. Left unchecked, vacant Lavonia homes and apartments can be a drag on the real estate market, holding Lavonia 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, Lavonia has experienced some of the highest home appreciation rates of any community in the nation. Lavonia real estate appreciated 134.16% over the last ten years, which is an average annual home appreciation rate of 8.88%, putting Lavonia in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lavonia 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, Lavonia's appreciation rate, at 6.93%, has been at or slightly above the national average. In the latest quarter, Lavonia's appreciation rate has been 1.28%, which annualizes to a rate of 5.24%.
Relative to Georgia, our data show that Lavonia's latest annual appreciation rate is higher than 70% of the other cities and towns in Georgia.
$221,374
for Georgia
for nation
891
$1,234 / per month