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 3,417, 1,357 total housing units (homes and apartments), and a median house value of $146,068, house prices in Pelham 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 Pelham, accounting for 63.43% of the city's housing units. Other types of housing that are prevalent in Pelham include duplexes, homes converted to apartments or other small apartment buildings ( 25.55%), large apartment complexes or high rise apartments ( 6.34%), and a few mobile homes or trailers ( 4.68%).
The most prevalent building size and type in Pelham are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 46.85% owning and 53.15% renting.
There is a lot of housing in Pelham 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 Pelham built between 1940-1969 ( 28.44%). A lesser amount of the housing stock also hails from before 1939 ( 20.04%). There's also some housing in Pelham built between 2000 and later ( 2.96%).
In the last 10 years, Pelham has experienced some of the highest home appreciation rates of any community in the nation. Pelham real estate appreciated 127.80% over the last ten years, which is an average annual home appreciation rate of 8.58%, putting Pelham in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pelham 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 Pelham that despite a nationwide downturn in the housing market, Pelham real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pelham appreciation rates continue to be some of the highest in America, at 8.30%, which is higher than appreciation rates in 73.28% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pelham. Pelham 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 Pelham's latest annual appreciation rate is higher than 60% of the other cities and towns in Georgia.
$146,068
for Georgia
for nation
1,357
$1,209 / per month