In order to analyze the market value of owned homes by type of area we have broken the national home ownership data into the following categories:
The results of this analysis were of course not surprising at all. On average a home in an urban area was worth $141,803 in 2014 and a home in a rural area was worth $109,405. What is surprising however is the fact that homes in rural areas are showing a slightly higher appreciation of 12.9% during the time frame of 2004 to 2013 as compared to a 11.3% appreciation in the value of urban homes.
This appreciation in the value of rural homes can be attributed to the fact that homes in urban areas did see a huge spike up in their valuation during the real estate bubble of 2006. However some of the steepest falls in in home values have been recorded in the same urban areas which have also seen very high rates of foreclosures and properties being under water where homeowners actually owe more on their mortgages than the value of their properties.
The difference in the market value of homes in rural areas versus home in urban areas is 30% on average - thus homes in urban areas over the years have been 30% higher in market value than their rural counterparts.
Anthony, Christine and Sofia of Spotless Homes will be focusing much of their marketing efforts in urban areas within the target market of Cobb county. The reason for this is that homes in urban areas have higher market values and homeowners are better positioned to afford house cleaning services. That is not to say that the homes located in rural settings do not offer any opportunity - for example a wealthy client may have 2 homes, one of which belongs in the rural countryside - taking on a full contract to clean both their homes may actually be very lucrative for Spotless Homes as long as they factor in the additional time taken to travel to the rural destination.
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