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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Pigeon Forge, TN Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Pigeon Forge, TN Housing Market Trends

With 6,215 people, 2,277 houses or apartments, and a median cost of homes of $336,498, Pigeon Forge real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Pigeon Forge, accounting for 53.76% of the city's housing units. Other types of housing that are prevalent in Pigeon Forge include large apartment complexes or high rise apartments ( 26.45%), duplexes, homes converted to apartments or other small apartment buildings ( 10.22%), and a few mobile homes or trailers ( 8.94%).

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

There is a lot of housing in Pigeon Forge 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 Pigeon Forge built between 2000 and later ( 36.54%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.03%).

Vacant housing appears to be an issue in Pigeon Forge. Fully 56.24% of the housing stock is classified as vacant. Left unchecked, vacant Pigeon Forge homes and apartments can be a drag on the real estate market, holding Pigeon Forge real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Pigeon Forge Home Appreciation Rates

In the last 10 years, Pigeon Forge has experienced some of the highest home appreciation rates of any community in the nation. Pigeon Forge real estate appreciated 167.83% over the last ten years, which is an average annual home appreciation rate of 10.35%, putting Pigeon Forge in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pigeon Forge definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Pigeon Forge's appreciation rate, at 4.87%, has been at or slightly above the national average. In the latest quarter, Pigeon Forge's appreciation rate has been 0.34%, which annualizes to a rate of 1.36%.

Relative to Tennessee, our data show that Pigeon Forge's latest annual appreciation rate is higher than 60% of the other cities and towns in Tennessee.

Average Home Values

Median Home Value

$336,498

Pigeon Forge, TN Home Prices
> $1,524,000
$1,143,001 - $1,524,000
$763,001 - $1,143,000
$610,001 - $763,000
$458,001 - $610,000
$305,001 - $458,000
$152,001 - $305,000
$76,001 - $152,000
$0 - $76,000
1.8%
1.8%
0.8%
0.8%
3.9%
3.9%
4.1%
4.1%
16.6%
16.6%
26.4%
26.4%
33.1%
33.1%
4.3%
4.3%
8.8%
8.8%
0% 100.0%
% of Homes
High

for Tennessee

High

for nation

Number of Homes And Apartments:

2,277

Pigeon Forge Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,490 / per month

Homeownership Rate

Owners
Renters
47.4%
47.4%
52.6%
52.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
56.2%
56.2%
43.8%
43.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
36.5%
36.5%
51.9%
51.9%
11.0%
11.0%
0.5%
0.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
53.8%
53.8%
0.4%
0.4%
10.2%
10.2%
26.4%
26.4%
8.9%
8.9%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.8%
1.8%
14.1%
14.1%
36.7%
36.7%
38.1%
38.1%
7.0%
7.0%
2.2%
2.2%
0% 100.0%
% of Homes

Zip Codes in Pigeon Forge, TN