Chattanooga appreciation rates and housing market information

Chattanooga housing market information

With a population of 155,509, 72,107 total housing units (homes and apartments), and a median house value of $143,096, Chattanooga real estate and house prices are near the national average for all cities and towns.

single-family detached homes are the single most common housing type in Chattanooga, accounting for 58.93% of the city's housing units. Other types of housing that are prevalent in Chattanooga include large apartment complexes or high rise apartments (21.43%), duplexes, homes converted to apartments, or other small apartment buildings (14.37%), row houses and other attached homes (3.66%), and a few mobile homes or trailers (1.53%).

People in Chattanooga primarily live in small (one, two, or no bedroom) single-family detached homes. Chattanooga has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Chattanooga's housing was primarily built during this period, from the '40s through the '60s. A full 46.40% of the city's housing hails from this era. Other housing ages represented in Chattanooga include homes built between 1970-1994 (34.07%), and housing constructed from 1939 and earlier (13.35%). There's also some housing in Chattanooga built between 1995 and later (6.18%).

Chattanooga home appreciation rates

Real estate appreciation rates in Chattanooga have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.25% during the period.

NeighborhoodScout's data show that during the latest twelve months, Chattanooga home appreciation rates, at 1.01%, have been at or slightly above the national average. In the latest quarter, Chattanooga's appreciation rate has been 2.21%, which annualizes to a rate of 8.84%.

Importantly, this makes Chattanooga one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Tennessee, our data show that Chattanooga's latest annual appreciation rate is higher than 12% of the other cities and towns in Tennessee.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Chattanooga differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Chattanooga - 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 1990, to assist you in making the best Chattanooga real estate investment or home purchase decisions.