Chattanooga TN

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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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Chattanooga Housing Market Information

With 180,557 people, 72,842 houses or apartments, and a median cost of homes of $208,298, Chattanooga real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Chattanooga, accounting for 59.50% of the city's housing units. Other types of housing that are prevalent in Chattanooga include large apartment complexes or high rise apartments ( 22.93%), duplexes, homes converted to apartments or other small apartment buildings ( 11.14%), and a few row houses and other attached homes ( 4.76%).

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 ( 34.17%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.38%). There's also some housing in Chattanooga built before 1939 ( 12.16%).

Vacant housing appears to be an issue in Chattanooga. Fully 12.72% 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 44.61%, which ranks in the top 30% nationwide. This equates to an annual average Chattanooga house appreciation rate of 3.76%.

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 8.82%, which is higher than appreciation rates in 90.01% 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 2.04%, which equates to an annual appreciation rate of 8.41%.

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 80% 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:

Chattanooga, TN HOME PRICES

Value Range
> $1,252,000 1.0
$939,001 - $1,252,000 0.6
$626,001 - $939,000 3.3
$501,001 - $626,000 2.8
$376,001 - $501,000 7.2
$250,001 - $376,000 16.1
$125,001 - $250,000 43.8
$63,001 - $125,000 19.1
$0 - $63,000 6.1

High for TN
High for Nation

Value Relative to Nation Value Relative to State
38.2306569343066 20.4081632653061

Number Of Homes And Apartments:

Chattanooga Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
94.10% 3.33%
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,019 / per month

Homeownership Rate

Owners 49.98
Renters 50.02
Vacant 12.72

Housing Market Details


Age of Homes

AGE OF Chattanooga HOMES
2000 or Newer 17.4
1970 - 1999 36.3
1940 - 1969 34.2
1939 or Older 12.2

Types of Homes

TYPE OF Chattanooga HOMES
Single-Family 59.5
Townhomes 4.8
Small Apt. Buildings 11.1
Apt. Complexes 22.9
Mobile Homes 1.5
Other 0.1

Home Size

SIZE OF Chattanooga HOMES
No Bedroom 2.87
1 Bedroom 11.70
2 Bedrooms 36.41
3 Bedrooms 34.85
4 Bedrooms 11.54
5 or more bedrooms 2.63