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 Q2 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Chattanooga Housing Market Information

With 177,571 people, 70,730 houses or apartments, and a median cost of homes of $173,400, 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.

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 19.68%, which ranks in the top 30% nationwide. This equates to an annual average Chattanooga house appreciation rate of 1.81%.

NeighborhoodScout's data show that during the latest twelve months, Chattanooga's appreciation rate, at 5.69%, has been at or slightly above the national average. In the latest quarter, Chattanooga's appreciation rate has been -0.45%, which annualizes to a rate of -1.78%.

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

Relative to Tennessee, our data show that Chattanooga's latest annual appreciation rate is lower than 60% 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:
$173,400

Chattanooga, TN HOME PRICES

Value Range
> $1,194,000 0.9
$896,001 - $1,194,000 0.7
$597,001 - $896,000 2.2
$478,001 - $597,000 2.4
$358,001 - $478,000 5.7
$239,001 - $358,000 15.1
$120,001 - $239,000 43.5
$60,001 - $120,000 21.3
$0 - $60,000 8.1

High for TN
Average for Nation

Value Relative to Nation Value Relative to State
44.7941605839416 25.0

Number Of Homes And Apartments:
70,730

Chattanooga Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
66.46% 2.79%
9
7
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$1,041 / per month

Homeownership Rate

Homeownership
Owners 50.61
Renters 49.39
Vacant 13.64

Housing Market Details

 

Age of Homes

AGE OF Chattanooga HOMES
2000 or Newer 14.4
1970 - 1999 36.6
1940 - 1969 35.8
1939 or Older 13.3

Types of Homes

TYPE OF Chattanooga HOMES
Single-Family 60.0
Townhomes 4.0
Small Apt. Buildings 12.0
Apt. Complexes 22.2
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Chattanooga HOMES
No Bedroom 2.97
1 Bedroom 11.56
2 Bedrooms 35.72
3 Bedrooms 35.79
4 Bedrooms 11.39
5 or more bedrooms 2.57