Gray, GA Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Gray, GA Housing Market Trends

With a population of 3,274, 1,219 total housing units (homes and apartments), and a median house value of $188,485, Gray 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 Gray, accounting for 75.94% of the city's housing units. Other types of housing that are prevalent in Gray include large apartment complexes or high rise apartments ( 14.50%), duplexes, homes converted to apartments or other small apartment buildings ( 4.55%), and a few mobile homes or trailers ( 4.23%).

The most prevalent building size and type in Gray are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.84% owning and 44.16% renting.

There is a lot of housing in Gray 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 Gray built between 2000 and later ( 35.42%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.92%). There's also some housing in Gray built before 1939 ( 1.80%).

Gray Home Appreciation Rates

Real estate appreciation rates in Gray's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.07% during the period.

Over the last year, Gray appreciation rates have trailed the rest of the nation. In the last twelve months, Gray's appreciation rate has been 7.23%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gray were at 3.71%, which equates to an annual appreciation rate of 15.70%.

Importantly, this makes Gray 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 Gray's latest annual appreciation rate is lower than 80% of the other cities and towns in Georgia.

Average Home Values

 

Median Home Value:
$188,485

Gray, GA HOME PRICES

> $1,244,000
0.0%
0.0%
$933,001 - $1,244,000
0.0%
0.0%
$622,001 - $933,000
0.0%
0.0%
$498,001 - $622,000
0.6%
0.6%
$373,001 - $498,000
3.3%
3.3%
$249,001 - $373,000
22.3%
22.3%
$125,001 - $249,000
54.0%
54.0%
$62,001 - $125,000
10.4%
10.4%
$0 - $62,000
9.4%
9.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for GA

Value Relative To Nation

Number Of Homes And Apartments:
1,219

Gray Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
44.60% 1.73%
3
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,099 / per month

Homeownership Rate

Owners
55.8%
55.8%
Renters
44.2%
44.2%
Vacant
4.5%
4.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
35.4%
35.4%
1970 - 1999
37.9%
37.9%
1940 - 1969
24.9%
24.9%
1939 or Older
1.8%
1.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
75.9%
75.9%
Townhomes
0.8%
0.8%
Small Apt. Buildings
4.5%
4.5%
Apt. Complexes
14.5%
14.5%
Mobile Homes
4.2%
4.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
9.1%
9.1%
2 Bedrooms
17.2%
17.2%
3 Bedrooms
49.2%
49.2%
4 Bedrooms
23.3%
23.3%
5 or more bedrooms
1.3%
1.3%
0.0% 100.0%
% OF HOMES