Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 1,378, 604 total housing units (homes and apartments), and a median house value of $242,398, New Market 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 New Market, accounting for 85.43% of the town's housing units. Other types of housing that are prevalent in New Market include mobile homes or trailers ( 14.57%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Market. Owner-occupied housing accounts for 77.15% of New Market's homes, and 84.05% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in New Market built from 1970 to 1999 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 New Market built between 1940-1969 ( 21.78%). A lesser amount of the housing stock also hails from before 1939 ( 17.18%). There's also some housing in New Market built between 2000 and later ( 9.82%).
Appreciation rates for homes in New Market have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 107.90%, which ranks in the top 30% nationwide. This equates to an annual average New Market house appreciation rate of 7.59%.
Over the last year, New Market appreciation rates have trailed the rest of the nation. In the last twelve months, New Market's appreciation rate has been 3.65%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Market were at 0.00%, which equates to an annual appreciation rate of 0.00%.
Relative to Tennessee, our data show that New Market's latest annual appreciation rate is lower than 70% of the other cities and towns in Tennessee.
$242,398
for Tennessee
for nation
604
$1,748 / per month