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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Rome, GA Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Rome, GA Housing Market Trends

With 37,913 people, 14,501 houses or apartments, and a median cost of homes of $202,519, house prices in Rome are solidly below the national average.

Single-family detached homes are the single most common housing type in Rome, accounting for 64.05% of the city's housing units. Other types of housing that are prevalent in Rome include large apartment complexes or high rise apartments ( 20.85%), duplexes, homes converted to apartments or other small apartment buildings ( 11.91%), and a few row houses and other attached homes ( 2.64%).

The most prevalent building size and type in Rome are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.78% owning and 51.22% renting.

There is a lot of housing in Rome 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 Rome built between 1940-1969 ( 33.49%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.14%). There's also some housing in Rome built before 1939 ( 11.87%).

Vacant housing appears to be an issue in Rome. Fully 10.81% of the housing stock is classified as vacant. Left unchecked, vacant Rome homes and apartments can be a drag on the real estate market, holding Rome 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.

Rome Home Appreciation Rates

Appreciation rates for homes in Rome have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 104.26%, which ranks in the top 30% nationwide. This equates to an annual average Rome house appreciation rate of 7.40%.

Appreciation rates are so strong in Rome that despite a nationwide downturn in the housing market, Rome real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rome appreciation rates continue to be some of the highest in America, at 7.16%, which is higher than appreciation rates in 75.81% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rome. Rome appreciation rates in the latest quarter were at -0.62%, which equates to an annual appreciation rate of -2.46%.

Notably, Rome's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Georgia, our data show that Rome's latest annual appreciation rate is higher than 70% 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 Rome differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rome - 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 Rome real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$202,519

Rome, GA Home Prices
> $1,411,000
$1,058,001 - $1,411,000
$705,001 - $1,058,000
$564,001 - $705,000
$423,001 - $564,000
$282,001 - $423,000
$141,001 - $282,000
$71,001 - $141,000
$0 - $71,000
0.6%
0.6%
1.2%
1.2%
2.8%
2.8%
3.4%
3.4%
7.8%
7.8%
17.2%
17.2%
38.8%
38.8%
22.2%
22.2%
6.0%
6.0%
0% 100.0%
% of Homes
Average

for Georgia

Low

for nation

Number of Homes And Apartments:

14,501

Rome Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,394 / per month

Homeownership Rate

Owners
Renters
48.8%
48.8%
51.2%
51.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.8%
10.8%
89.2%
89.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
20.1%
20.1%
34.5%
34.5%
33.5%
33.5%
11.9%
11.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
64.0%
64.0%
2.6%
2.6%
11.9%
11.9%
20.9%
20.9%
0.6%
0.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.9%
4.9%
11.3%
11.3%
30.8%
30.8%
33.6%
33.6%
15.7%
15.7%
3.7%
3.7%
0% 100.0%
% of Homes