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 9,858 people, 3,711 houses or apartments, and a median cost of homes of $248,986, house prices in Thomaston are solidly below the national average.
Single-family detached homes are the single most common housing type in Thomaston, accounting for 64.42% of the city's housing units. Other types of housing that are prevalent in Thomaston include duplexes, homes converted to apartments or other small apartment buildings ( 21.47%), large apartment complexes or high rise apartments ( 12.64%), and a few mobile homes or trailers ( 1.47%).
People in Thomaston primarily live in small (one, two or no bedroom) single-family detached homes. Thomaston has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Thomaston 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 Thomaston built between 1940-1969 ( 33.96%). A lesser amount of the housing stock also hails from before 1939 ( 21.30%). There's also some housing in Thomaston built between 2000 and later ( 6.21%).
Vacant housing appears to be an issue in Thomaston. Fully 17.42% of the housing stock is classified as vacant. Left unchecked, vacant Thomaston homes and apartments can be a drag on the real estate market, holding Thomaston 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, Thomaston has experienced some of the highest home appreciation rates of any community in the nation. Thomaston real estate appreciated 125.80% over the last ten years, which is an average annual home appreciation rate of 8.49%, putting Thomaston in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Thomaston definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Thomaston that despite a nationwide downturn in the housing market, Thomaston real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Thomaston appreciation rates continue to be some of the highest in America, at 8.51%, which is higher than appreciation rates in 75.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Thomaston. Thomaston 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 Thomaston's latest annual appreciation rate is higher than 70% 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 Thomaston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Thomaston - 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 Thomaston real estate investment or home purchase decisions.
$248,986
for Georgia
for nation
3,711
$1,414 / per month