Hinesville, GA
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Home to Fort Stewart, one of the country's largest U.S. Army installations, Hinesville, Georgia, provides real estate investors with significant housing demand for active-duty and retired military personnel.
Hinesville is a growing metro, with a population of 82,354 and a growth rate of 2.01% over the last year. The area’s growth is largely due to the robust military base and the extra efforts city officials have made to attract new businesses to the area. In 2023 alone, Hinesville welcomed 152 new businesses, including retail, service, and technology companies, along with a new small business incubator, demonstrating the city's commitment to supporting small companies and vendors.
The Hinesville housing market offers real estate investors a promising opportunity. With a median home price of $236,399, a 8.2% change from last year, and a median rent of $1,574, a change of 2.1% from the previous year, the market continues to grow.
The largest demand for rentals comes from military families, and the market ensures a steady stream of tenants, making it an attractive investment prospect. In addition, the area’s rent-to-price ratio is 0.7%, which is an attractive number for today’s economy.
All this growth, along with the stability of Fort Stewart, which provides 20,000 jobs for military personnel and civilians, contributes to Hinesville's growing economy. This stability is reflected in the city's low unemployment rate of 3.2% and a workforce of more than 33,000 employed people, providing a secure environment for real estate investors.
The median household income in Hinesville is $55,427, and the cost of living is low compared to other Georgia cities. The cost of living index in Hinesville MSA is 82.5, while in Atlanta, it's 100.4. This is primarily due to the lower property taxes and competitive local real estate market pricing, making Hinesville an attractive option for those moving to the area.
The area is no stranger to economic downturns but has consistently demonstrated the ability to bounce back. For instance, during the pandemic, it lost only 9% of its jobs, whereas the U.S. as a whole lost 14%. This is a testament to the city's diverse economy and its ability to adapt to changing circumstances.
A large part of Hinesville's economy is government jobs, but there are even more private-sector jobs. This balance helps to mitigate the impact of economic fluctuations and ensures a stable job market for residents.
Hinesville is conveniently located near many major highways, and the Liberty County Transit service provides public transportation. However, most residents use their private cars to commute in Hinesville, creating an average 25-minute commute, slightly lower than the national average. The city also boasts a range of amenities, including dining, boutique shops, historic sites, and museums, contributing to its livability and attractiveness to potential tenants.
Overall, the strong military presence in Hinesville, GA, creates high demand for rental housing, somewhat frequent turnover, and a stable economy. The bustling private sector and government jobs ensure a low unemployment rate, and the low cost of living keeps people in the area, giving investors a larger audience for their rental properties.
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