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 1,306, 534 total housing units (homes and apartments), and a median house value of $112,407, house prices in Sparta are some of the most affordable in Georgia as well as the nation.
Single-family detached homes are the single most common housing type in Sparta, accounting for 52.83% of the city's housing units. Other types of housing that are prevalent in Sparta include mobile homes or trailers ( 22.92%), large apartment complexes or high rise apartments ( 14.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.14%).
The most prevalent building size and type in Sparta are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 40.24% owning and 59.76% renting.
There is a lot of housing in Sparta 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 Sparta built between 1940-1969 ( 22.92%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.65%). There's also some housing in Sparta built before 1939 ( 11.73%).
Vacant housing appears to be an issue in Sparta. Fully 29.64% of the housing stock is classified as vacant. Left unchecked, vacant Sparta homes and apartments can be a drag on the real estate market, holding Sparta 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.
Appreciation rates for homes in Sparta have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 107.08%, which ranks in the top 30% nationwide. This equates to an annual average Sparta house appreciation rate of 7.55%.
Appreciation rates are so strong in Sparta that despite a nationwide downturn in the housing market, Sparta real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sparta appreciation rates continue to be some of the highest in America, at 8.22%, which is higher than appreciation rates in 72.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sparta. Sparta appreciation rates in the latest quarter were at 0.64%, which equates to an annual appreciation rate of 2.59%.
Relative to Georgia, our data show that Sparta's latest annual appreciation rate is higher than 50% of the other cities and towns in Georgia.
$112,407
for Georgia
for nation
534
$762 / per month