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 13,741 people, 5,300 houses or apartments, and a median cost of homes of $117,128, house prices in Waycross 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 Waycross, accounting for 61.33% of the city's housing units. Other types of housing that are prevalent in Waycross include duplexes, homes converted to apartments or other small apartment buildings ( 14.35%), large apartment complexes or high rise apartments ( 13.84%), and a few mobile homes or trailers ( 8.39%).
The most prevalent building size and type in Waycross are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 42.76% owning and 57.24% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Waycross's housing was primarily built during this period, from the '40s through the '60s. A full 44.93% of the city's housing hails from this era. Other housing ages represented in Waycross include homes built between 1970-1999 ( 36.52%) and housing constructed before 1939 ( 10.51%). There's also some housing in Waycross built between 2000 and later ( 8.04%).
Vacant housing appears to be an issue in Waycross. Fully 24.60% of the housing stock is classified as vacant. Left unchecked, vacant Waycross homes and apartments can be a drag on the real estate market, holding Waycross 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 Waycross have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 97.01%, which ranks in the top 40% nationwide. This equates to an annual average Waycross house appreciation rate of 7.02%.
Appreciation rates are so strong in Waycross that despite a nationwide downturn in the housing market, Waycross real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Waycross appreciation rates continue to be some of the highest in America, at 9.49%, which is higher than appreciation rates in 84.29% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Waycross. Waycross 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 Waycross's latest annual appreciation rate is higher than 80% 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 Waycross differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Waycross - 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 Waycross real estate investment or home purchase decisions.
$117,128
for Georgia
for nation
5,300
$1,295 / per month