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 2,960 people, 1,053 houses or apartments, and a median cost of homes of $109,932, house prices in Millen 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 Millen, accounting for 71.10% of the city's housing units. Other types of housing that are prevalent in Millen include duplexes, homes converted to apartments or other small apartment buildings ( 16.47%), mobile homes or trailers ( 7.00%), and a few large apartment complexes or high rise apartments ( 4.23%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Millen. Owner-occupied housing accounts for 68.36% of Millen's homes, and 57.79% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Millen 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 Millen built between 1940-1969 ( 39.43%). A lesser amount of the housing stock also hails from before 1939 ( 11.36%). There's also some housing in Millen built between 2000 and later ( 9.72%).
Vacant housing appears to be an issue in Millen. Fully 33.56% of the housing stock is classified as vacant. Left unchecked, vacant Millen homes and apartments can be a drag on the real estate market, holding Millen 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 Millen have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 115.66%, which ranks in the top 30% nationwide. This equates to an annual average Millen house appreciation rate of 7.99%.
NeighborhoodScout's data show that during the latest twelve months, Millen's appreciation rate, at 6.93%, has been at or slightly above the national average. In the latest quarter, Millen's appreciation rate has been 1.28%, which annualizes to a rate of 5.24%.
Relative to Georgia, our data show that Millen's latest annual appreciation rate is higher than 50% of the other cities and towns in Georgia.
$109,932
for Georgia
for nation
1,053
$1,073 / per month