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
With a population of 177,571, 70,730 total housing units (homes and apartments), and a median house value of $179,526, 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 60.05% of the city's housing units. Other types of housing that are prevalent in Chattanooga include large apartment complexes or high rise apartments ( 22.23%), duplexes, homes converted to apartments or other small apartment buildings ( 12.03%), and a few row houses and other attached homes ( 3.99%).
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.
There is a lot of housing in Chattanooga 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 Chattanooga built between 1940-1969 ( 35.80%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.36%). There's also some housing in Chattanooga built before 1939 ( 13.28%).
Vacant housing appears to be an issue in Chattanooga. Fully 13.64% of the housing stock is classified as vacant. Left unchecked, vacant Chattanooga homes and apartments can be a drag on the real estate market, holding Chattanooga 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.
Appreciation rates for homes in Chattanooga have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 25.75%, which ranks in the top 30% nationwide. This equates to an annual average Chattanooga house appreciation rate of 2.32%.
Appreciation rates are so strong in Chattanooga that despite a nationwide downturn in the housing market, Chattanooga real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Chattanooga appreciation rates continue to be some of the highest in America, at 7.73%, which is higher than appreciation rates in 80.57% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Chattanooga. Chattanooga appreciation rates in the latest quarter were at 3.96%, which equates to an annual appreciation rate of 16.82%.
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 70% 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 2000, to assist you in making the best Chattanooga real estate investment or home purchase decisions.
|$927,001 - $1,236,000||0.7|
|$618,001 - $927,000||2.2|
|$495,001 - $618,000||2.4|
|$371,001 - $495,000||5.7|
|$247,001 - $371,000||15.1|
|$124,001 - $247,000||43.5|
|$62,001 - $124,000||21.3|
|$0 - $62,000||8.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2018 Q2 - 2018 Q3
Last 12 Months:
2017 Q3 - 2018 Q3
Last 2 Years:
2016 Q3 - 2018 Q3
Last 5 Years:
2013 Q3 - 2018 Q3
Last 10 Years:
2008 Q3 - 2018 Q3
2000 Q1 - 2018 Q3
|* 10 is highest|
|AGE OF Chattanooga HOMES|
|2000 or Newer||14.4|
|1970 - 1999||36.6|
|1940 - 1969||35.8|
|1939 or Older||13.3|
|TYPE OF Chattanooga HOMES|
|Small Apt. Buildings||12.0|
|SIZE OF Chattanooga HOMES|
|5 or more bedrooms||2.57|