Chattanooga, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Chattanooga, TN Real Estate Data

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 Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Chattanooga Housing Market Information

With a population of 179,139, 71,190 total housing units (homes and apartments), and a median house value of $181,646, 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 59.73% of the city's housing units. Other types of housing that are prevalent in Chattanooga include large apartment complexes or high rise apartments ( 22.31%), duplexes, homes converted to apartments or other small apartment buildings ( 11.65%), and a few row houses and other attached homes ( 4.52%).

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 ( 34.82%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.12%). There's also some housing in Chattanooga built before 1939 ( 12.43%).

Vacant housing appears to be an issue in Chattanooga. Fully 13.22% 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.

Chattanooga Home Appreciation Rates

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 26.67%, which ranks in the top 30% nationwide. This equates to an annual average Chattanooga house appreciation rate of 2.39%.

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 7.58%, which is higher than appreciation rates in 79.40% 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 1.21%, which equates to an annual appreciation rate of 4.93%.

Relative to Tennessee, our data show that Chattanooga's latest annual appreciation rate is higher than 50% 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.

Average Home Values

 

Median Home Value:
$181,646

Chattanooga, TN HOME PRICES

Value Range
> $1,209,000 0.8
$907,001 - $1,209,000 0.6
$604,001 - $907,000 2.6
$484,001 - $604,000 2.6
$363,001 - $484,000 6.5
$242,001 - $363,000 17.8
$121,001 - $242,000 44.7
$60,001 - $121,000 18.9
$0 - $60,000 5.6

High for TN
Average for Nation

Value Relative to Nation Value Relative to State
43.8248175182482 26.530612244898

Number Of Homes And Apartments:
71,190

Chattanooga Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
76.84% 3.01%
9
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,042 / per month

Homeownership Rate

Homeownership
Owners 50.01
Renters 49.99
Vacant 13.22

Housing Market Details

 

Age of Homes

AGE OF Chattanooga HOMES
2000 or Newer 16.1
1970 - 1999 36.6
1940 - 1969 34.8
1939 or Older 12.4

Types of Homes

TYPE OF Chattanooga HOMES
Single-Family 59.7
Townhomes 4.5
Small Apt. Buildings 11.7
Apt. Complexes 22.3
Mobile Homes 1.7
Other 0.1

Home Size

SIZE OF Chattanooga HOMES
No Bedroom 2.96
1 Bedroom 11.58
2 Bedrooms 36.56
3 Bedrooms 35.05
4 Bedrooms 11.30
5 or more bedrooms 2.55