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 Locust Grove according to our analysis.
Here’s a look at the top ten places to buy a home in Georgia for 2019:
- Locust Grove (Photos | Homes For Sale)
- Hampton (Homes For Sale)
- Stone Mountain (Photos | Homes For Sale)
- Clarkston (Photos | Homes For Sale)
- Morrow (Photos | Homes For Sale)
- Buford (Photos | Homes For Sale)
- Garden City (Photos | Homes For Sale)
- Stockbridge (Photos | Homes For Sale)
- Lovejoy (Photos | Homes For Sale)
- Braselton (Photos | Homes For Sale)
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.
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How do you determine the best places to buy a home in Georgia for 2019?
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 2013-2017 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 620 cities and towns in Georgia, only 125 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 125 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.
Turns out that Locust Grove is the best potential gem in the not-so-rough in the Peach State.
Read on for more on these places.
The city of Locust Grove derived its name from a grove of locust trees that could be seen throughout the town. Locust Grove was a major rail distribution center for cotton, peaches and other farm products. The city had three cotton gins and several warehouses. In 1870, the first store was built on Main Street. Since that time many new businesses have moved to Locust Grove.
The city was once known as “Bear Creek” or “Bear Creek Station”, named after a creek that runs through the area. The town was moved, established and renamed in 1873 when the Central Railroad of Georgia was built approx. one mile to the east. It was named after Brig. General Wade Hampton, an American soldier in the Revolutionary War and War of 1812.
In 1822, the area that now makes up the city of Stone Mountain was made a part of the newly formed DeKalb County. A post office was created in 1834 on the old Augusta Road, and Andrew Johnson built a hotel along the road in 1836. At around the same time, Aaron Cloud built an observation tower at the summit of the mountain. Visitors to the mountain would travel to the area by rail and road, and then hike up the 1.1-mile mountaintop trail to the top, where Cloud also had a restaurant and club.
Morrow was founded in 1846 with the advent of the railroad into the area. It was incorporated as a city in 1943.
Buford appears in historical records beginning in the early 19th century. The area that is now Buford was originally part of Cherokee territory. Despite the treaty in 1817 that ceded the territory to the United States and Gwinnett County’s legislative establishment in 1818, the area was still largely inhabited by the Cherokee until the 1830s. The first non-Native Americans moved to the Buford area in the late 1820s or early 1830s, although the Buford area was not largely settled by them until the 1860s.
From the Reconstruction Era until the 1930s, the area was home to three major plantations: Brampton, Givens and Telfair. Garden City was incorporated on February 8, 1939, as “Industrial City Gardens”. It received its current name on March 24, 1941.
The area was settled in 1829 when Concord Methodist Church was organized near present-day Old Stagecoach Road. It was granted a post office on April 5, 1847, named for a traveling professor, Levi Stockbridge, who passed through the area many times before the post office was built. He was said to be well known and respected in his namesake community. Others contend that the city was named after Thomas Stock, who was State Surveyor and president of the Georgia State Senate in the 1820s.
The town is named after Harrison Braselton, a poor dirt farmer who married Susan Hosch, the daughter of a rich plantation owner. Braselton built a home on 786 acres of land he purchased north of the Hosch Plantation. The land he purchased was later called Braselton.
There You Have It – The Best Places To Purchase A House In Georgia for 2019
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 620 places in the state.
So if we’d could rent or buy in these cities, we’d definitely buy.
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