Murfreesboro appreciation rates and housing market information

Murfreesboro housing market information

With 68,957 people, 28,952 houses or apartments, and a median cost of homes of $204,242, Murfreesboro real estate is some of the most expensive in Tennessee, although Murfreesboro home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Murfreesboro, accounting for 52.17% of the city's housing units. Other types of housing that are prevalent in Murfreesboro include large apartment complexes or high rise apartments (28.92%), duplexes, homes converted to apartments, or other small apartment buildings (10.97%), row houses and other attached homes (5.49%), and a few mobile homes or trailers (2.41%).

The most prevalent building size and type in Murfreesboro are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 48.16% owning, and 43.95% renting.

There is a lot of housing in Murfreesboro built from 1970-1994, 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 Murfreesboro built from 1995 and later (25.58%). A lesser amount of the housing stock also hails from 1940-1969 (23.43%), and some were built from 1939 and earlier (23.43%).

Murfreesboro home appreciation rates

Murfreesboro's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Murfreesboro during the period has been just 5.33%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, Murfreesboro home appreciation rates, at 0.14%, have been at or slightly above the national average. In the latest quarter, Murfreesboro's appreciation rate has been -0.74%, which annualizes to a rate of -2.96%.

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

Relative to Tennessee, our data show that Murfreesboro's latest annual appreciation rate is higher than 6% 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 Murfreesboro differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Murfreesboro - 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 Murfreesboro real estate investment or home purchase decisions.