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 a population of 2,253, 771 total housing units (homes and apartments), and a median house value of $298,947, Midway 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 Midway, accounting for 61.50% of the city's housing units. Other types of housing that are prevalent in Midway include large apartment complexes or high rise apartments ( 16.26%), mobile homes or trailers ( 16.04%), and a few row houses and other attached homes ( 3.43%).
The most prevalent building size and type in Midway are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.78% owning and 39.22% renting.
Midway homes and real estate are some of the newest in America. 56.75% of Midway's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Midway real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 33.19%), and between 1940-1969 ( 9.29%).
Vacant housing appears to be an issue in Midway. Fully 14.71% of the housing stock is classified as vacant. Left unchecked, vacant Midway homes and apartments can be a drag on the real estate market, holding Midway 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.
Midway's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Midway during the period has been just 5.06%, which is lower than 80% of US communities.
Over the last year, Midway appreciation rates have trailed the rest of the nation. In the last twelve months, Midway's appreciation rate has been 4.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Midway were at 3.57%, which equates to an annual appreciation rate of 15.08%.
Importantly, this makes Midway one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Georgia, our data show that Midway's latest annual appreciation rate is lower than 90% of the other cities and towns in Georgia.
$298,947
for Georgia
for nation
771
$1,859 / per month