The gorgeous town of Canton GA located at the foothills of the Blue Ridge Mountains, is considered one of Georgia’s residential gems. Here you get to enjoy a diverse landscape, a diverse population, and great accommodations. Canton GA is known for its top schools along with its low crime rates, which makes it one of the most family-friendly cities in the state.
The picturesque mountain backdrop, and the attractive economic situation, along with the feel of care and belonging, are just a few of the reasons people love the area. The city of Canton GA has so much to offer both for tourists and residents. The sprawling downtown area is filled with attractions and excellent dining options that will make you spend an entire weekend exploring the area in its entirety.
You can never get bored in the city of Canton GA, but if you do, Atlanta is just a short drive away, so there should be no issue switching between the urban and suburban setting in a matter of minutes. Canton GA has a lot to offer, but what does it take to become a homeowner in the area? Let’s break down a few facts about the real estate market of Canton GA.
What to expect from Canton’s housing market
Canton used to be a very rural area, but the city is exploding with life thanks to the massive development. In two decades, the population got four times bigger, and the housing demand increased with it. A lot of businesses and housing developments have been added, which makes it an exceptionally sought-after area.
With great neighborhoods and friendly people, it is only a matter of time before you find a cozy place to call home. That place might be an old fashion off-white farmhouse or a suburban townhome. Whether you are interested in condos, townhomes, row homes, or farm homes, Canton GA’s housing variety can deliver.
With a total of 9,700 homes and apartments, Canton’s housing market has an almost equal split between homeowners and renters. Since a lot of development has happened in the past two decades, especially in the real estate market of the area, you will find out that about 63% of homes are less than 20 years old.
If you want to learn more about the housing market in the area, be sure to get in touch with real estate agents in Canton GA, who can assist you in making your first home purchase. As diverse as a housing market might be, it always comes down to price. Since we briefly mentioned homeowners and renters, let’s take a look at Canton’s housing market and find out how much it would cost to rent and to buy a home here.
Home value in Canton GA
It’s fair to say that Canton GA is not the most affordable or the most expensive real estate market in Georgia. Home prices have increased by a significant amount due to the high housing demand, which is expected. With that in mind, many investors find it to be the perfect place to expand their investments with real estate, whether it’s house flipping, long-term investments, or rental properties. Even if you are not interested in investing, it’s still a good idea to know the current home value in the area if you want to become a homeowner.
According to Zillow, the current average home value is close to $330,000, which is about 12% higher than last year. But how does it compare to the state and country average? Currently, the median home value is 25% higher in Canton GA, than the US average and 32% higher than the state average. However, it is essential to note that the national average dropped significantly from last year’s high of $280,000.
Needless to say, the housing market of Canton GA is not cheap. About 30% of homes are currently listed at a price between $130,000 to $260,000, and 25% are listed at a price between $260,000 to $393,000. Less than 15% of homes are priced above $500,000, and less than 14% are priced below $130,000. With a homeownership rate close to 50%, it’s easy to see that Canton GA’s real estate market favors both renters and owners. Here is what you need to know about renting in the area.
Average rent in Canton GA
Renting is very prevalent in Canton GA, and about 50% of households are renter-occupied. Rentals are fairly common and wide-spread, so you have plenty of options to choose from based on your budget and needs. If you are looking for a cozy and cost-efficient apartment or a spacious downtown loft, Canton GA is most likely going to have it. From condos to studio apartments, there is something for everyone’s lifestyle.
On the other hand, the average rent suggests that it’s not on the affordable side, but you are most likely to find some budget-friendly options in some of the low-income areas of Canton. Some of the more affluent parts of Canton GA offer relative luxury in terms of rentals for those with a more forgiving budget. Regardless of your financial situation, you will be able to find something that suits your needs, tastes, and budget in Canton GA.
As far as average rent goes, the current rate in Canton GA is around $1,300 per month. About 73% of apartments in the area rent for a price between $1,000 to $1,500. About 17% of apartments rent above $1,500/month and less than 11% rent below $1,000/month. Out of the total number of homes and apartments, about 40% are 3-bedroom type units, and 26% are 2-bedroom size.
Canton GA’s real estate market looks very promising for both home buyers, sellers, and investors. With the increase in population also comes an increase in housing demand and prices. Canton GA doesn’t only excel as far as real estate goes, but it is also highly praised for its excellent quality of life. With family-friendly neighborhoods, good education, and a safe environment, many consider Canton the holy grail of Georgia.
If you agree with our real estate market highlights about Canton, GA, don’t hesitate to share this content with all your family and friends on your social media platforms. Let everyone know how amazing this city really is.