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There's a the age old question everyone thinks about when they decide to move to a city in Georgia:
Should I buy a place or rent? Well, we aren't here today to solve that problem for you exactly. We are just assuming you'll do the right thing and a buy a place. And while we are happy to tell you the best place to live in Georgia, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Peach State.
To do that we are going to look at places in Georgia that are growing faster than average, but where home prices are below average. In every day terms, the "deals". The best deal in Georgia at the moment? That would be Glennville according to our analysis.
Here's a look at the top ten places to buy a home in georgia for 2020:
- Glennville (Homes For Sale)
- Palmetto (Photos | Homes For Sale)
- Byron (Photos | Homes For Sale)
- Eastman (Photos | Homes For Sale)
- Adel (Photos | Homes For Sale)
- Hawkinsville (Homes For Sale)
- Waynesboro (Photos | Homes For Sale)
- Sandersville (Homes For Sale)
- Dacula (Homes For Sale)
- Sylvester (Photos | Homes For Sale)
What's the best place to buy a home in Georgia for 2020? According to our analysis, would the the ideal place to buy a home looking into the future.
The methodology that wen't into this can be a bit complicated, so we'll break it down for you in as much detail as we can below. If you're not worried about finding a deal on good places to live, check out the most expensive places to live in georgia and, for those of you on a budget, the cheapest places to live in georgia.
For more Georgia reading, check out:
- These Are The 10 Best Counties To Live In Georgia
- 10 Best Places To Raise A Family In Georgia
- These Are The 10 Best Places To Retire In Georgia
The 10 Best Cities To Buy A House In Georgia For 2020
Eastman was founded in 1871 as the seat of the newly formed Dodge County. It was incorporated as a town in 1873 and as a city in 1905. Eastman is named for W. P. Eastman, who, with W. E. Dodge, presented the county with a courthouse.
The original name of the city was Puddleville. The city's first postmaster, Joel "Uncle Jack" Parrish, wanted to change the name of the city. It is believed that he saw the name "Philadelphia" on a croaker sack and struck out the first and last four letters to create the present name of Adel.
Hawkinsville was founded by European Americans in 1830. That same year, the seat of Pulaski County was transferred to Hawkinsville from Hartford. The community was named for Benjamin Hawkins, delegate to the Continental Congress, and the United States Indian Agent in the Southeast, appointed by President George Washington.
Waynesboro is located in Burke County, one of the eight original counties of Georgia. The city was named after General Anthony Wayne, whose daring efforts during the Revolutionary War earned him the nickname "Mad Anthony Wayne".
The city's original name was Saundersville, after M. Saunders, a local store owner. The settlement was located at an intersection of Indian trails, and later the site of Saunders' general store. In 1796, the town was made the county seat of Washington County.
The vicinity of Dacula was one of the first areas in present-day metropolitan Atlanta to be settled by whites, but the area remained mostly undeveloped until the late 20th century. The Dacula area is home to some of the oldest buildings in greater Atlanta, such as the Elisha Winn House, which originally acted as the courthouse for Gwinnett County. Dacula itself began in the late 1800s near the community of Chinquapin Grove, where Dacula Elementary now stands. The town was originally named "Hoke", after a Seaboard Air Line Railroad executive, but that name was changed due to the Post Office Department's protest.. Dacula's name was formed from letters in Decatur and Atlanta, two cities to the west that were already prospering at the time of Dacula's founding. The city was once home to a train station on a CSX line through northeast Georgia, although the station closed in the mid-1950s.
Sylvester started as a "beautiful nowhere" in 1893 and was first called "Isabella Station". When the Brunswick and Albany Railroad came through southwest Georgia, the county seat was Isabella, which is located three miles north of the railroad. Slowly, however, the center of trade and commerce shifted south along the railroad. Two other towns, Poulan and Sumner, sprang up along the railroad in Worth County, but it was Isabella Station that grew and prospered the fastest. In 1894, the citizens voted to change the name to "Sylvester". In 1898, Sylvester voted to incorporate and on December 21 of that year the Georgia Legislature agreed to incorporate it as a city.
How do you determine the best places to buy a home in georgia for 2020?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we've put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we'd approach finding an up-and-coming place to live in Georgia. Put differently, the analysis will try to find places in Georgia with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2014-2018 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It's still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still "cheap" for Georgia with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 0 cities and towns in Georgia, only 123 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 123 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a "best place to buy" index with the place having the lowest index being the best. You can download the data here.
Turns out that Glennville is the best potential gem in the not-so-rough in the Peach State.
Read on for more on these places.
There You Have It - The Best Places To Purchase A House In georgia for 2020
There's our analysis of the best places to buy a house in Georgia. And, to be clear, we aren't necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.
So if we'd could rent or buy in these cities, we'd definitely buy.
For more georgia reading, check out: