Gainesville, Ga., is about an hour northeast of the state’s capital, Atlanta. Government jobs account for only 15 percent of the employment base in the area, however. The area is best known for its poultry processing plants, earning it the nickname “Poultry Capital of the World.”
Three of the top five employers for Hall County, which comprises the Gainesville metro area, are chicken producers: Fieldale Farms Corp., Mar Jac Poultry Inc. and Pilgrims Pride Corp. The other two are staffing company Willstaff Inc. and Northeast Georgia Medical Center Inc. The area has an 8.5 percent unemployment rate and is expected to see 28.3 percent job growth in the next 10 years.
Gainesville saw the highest jump in population among the 10 markets between 2000 and 2010: 29 percent. SmartZip projects it will roughly match that growth in the next 10 years, rising 29.3 percent. That is projected as the second-highest population growth among the 10 markets in this report.
The area’s median sales price in fourth-quarter 2010 was $138,000, a 5.5 percent decrease from fourth-quarter 2009. That boosted the area’s affordability — 74.4 percent of homes were affordable to households making the median income. Homes in the area are expected to appreciate 19.1 percent in the next 10 years, with a projected ROI of 140.8 percent.
Gainesville has the highest share of noncurrent loans among the 10 markets: 13.8 percent compared with 12 percent nationally.
| Gainesville, Ga. | Metro | U.S. |
|---|---|---|
| Population (2010) | 179,684 | 308,745,538 |
| % ch. population (2000-2010) | 29% | 9.7% |
| 10-year projected population growth % | 29.3% | |
| Unemployment rate (March 2011) | 8.5% | 9.2% |
| % pt. chg. in unemployment rate (March 2011 vs. March 2010) | -0.7% | -1% |
| 10-year projected job growth % | 28.3% | |
| Median sales price (Q4 ’10) | $138,000 | $175,000 |
| % ch. median sales price (Q4 ’10 vs. Q4 ’09) | -5.5% | -2.8% |
| Median list price (March 2011) | N/A | $189,900 |
| % ch. median list price (March 2011 vs. March 2010) | N/A | -4.8% |
| Projected 10-year appreciation % | 19.1% | |
| % homes affordable at median income (Q4 ’10) | 74.4% | 73.9% |
| SmartZip Affordability Index | 143 | |
| Total cost of ownership/rent ratio | 0.92 | |
| Share of foreclosure sales (Q4 2010) | 35.3% | 26.5% |
| % ch. share of foreclosure sales (Q4 2010 vs. Q4 2009) | -17.1% | 4.1% |
| Average foreclosure discount (Q4 2010) | 23% | 28.2% |
| % active loans noncurrent (as of March 31, 2011) | 13.8% | 12% |
| % active investor loans (as of March 31, 2011) | 4.3% | 5.5% |
| SmartZip InvestorScore | 51 | |
| 10-year return on investment (ROI) % | 140.8% | |
| Median age of inventory on Realtor.com in days (March 2011) | N/A | 108 |
| Search ranking on Realtor.com (March 2011) | N/A | |
| Walk Score | 46 |
From Inman News
A multi-million dollar producer focusing on resort properties from golf course properties to the North Georgia mountains, and homes on and near Lake Lanier, northern Gwinnett County and Buford, Georgia, James Lyons joins Atlanta Fine Homes Sotheby’s International Realty in the North Atlanta Office.
With more than a dozen listings and more than 16 years selling homes on Lake Lanier, James represents some of the most beautiful lake properties in northeast Georgia and is considered to be a local expert in lakefront homes.
James Lyons
(678)414-8791
(770)442-7300
Gainesville Ga is growing in quantity and quality!