Chattanooga, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Chattanooga, TN Real Estate Data


Chattanooga Housing Market Information

With 176,588 people, 69,890 houses or apartments, and a median cost of homes of $169,152, 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 60.26% of the city's housing units. Other types of housing that are prevalent in Chattanooga include large apartment complexes or high rise apartments ( 22.37%), duplexes, homes converted to apartments or other small apartment buildings ( 12.02%), and a few row houses and other attached homes ( 3.64%).

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.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Chattanooga's housing was primarily built during this period, from the '40s through the '60s. A full 37.30% of the city's housing hails from this era. Other housing ages represented in Chattanooga include homes built between 1970-1999 ( 34.86%) and housing constructed before 1939 ( 15.09%). There's also some housing in Chattanooga built between 2000 and later ( 12.75%).

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 10.40%, which ranks in the top 40% nationwide. This equates to an annual average Chattanooga house appreciation rate of 0.99%.

NeighborhoodScout's data show that during the latest twelve months, Chattanooga's appreciation rate, at 4.56%, has been at or slightly above the national average. In the latest quarter, Chattanooga's appreciation rate has been 1.04%, which annualizes to a rate of 4.24%.

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:
$169,152

Chattanooga, TN HOME PRICES

Value Range
> $1,111,000 0.7
$834,001 - $1,111,000 0.9
$556,001 - $834,000 2.4
$445,001 - $556,000 2.9
$333,001 - $445,000 4.7
$222,001 - $333,000 13.5
$111,001 - $222,000 42.5
$56,001 - $111,000 22.8
$0 - $56,000 9.7

High for TN
Average for Nation

Value Relative to Nation Value Relative to State
43.0520583240616 21.6836734693878

Number Of Homes And Apartments:
69,890

Rent & Ownership

 

Average Market Rent:
$950 / per month

Homeownership Rate

Homeownership
Owners 50.91
Renters 49.09
Vacant 13.22

Housing Market Details

 

Age of Homes

AGE OF Chattanooga HOMES
2000 or Newer 12.8
1970 - 1999 34.9
1940 - 1969 37.3
1939 or Older 15.1

Types of Homes

TYPE OF Chattanooga HOMES
Single-Family 60.3
Townhomes 3.6
Small Apt. Buildings 12.0
Apt. Complexes 22.4
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Chattanooga HOMES
No Bedroom 2.94
1 Bedroom 12.01
2 Bedrooms 33.93
3 Bedrooms 36.81
4 Bedrooms 11.53
5 or more bedrooms 2.78

Chattanooga Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
48.37% 2.35% 8 6
* 10 is highest