East Ridge, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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East Ridge, 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

East Ridge Housing Market Information

With a population of 21,260, 8,949 total housing units (homes and apartments), and a median house value of $131,299, house prices in East Ridge are solidly below the national average.

Single-family detached homes are the single most common housing type in East Ridge, accounting for 63.14% of the city's housing units. Other types of housing that are prevalent in East Ridge include large apartment complexes or high rise apartments ( 18.80%), duplexes, homes converted to apartments or other small apartment buildings ( 14.98%), and a few row houses and other attached homes ( 2.51%).

People in East Ridge primarily live in small (one, two or no bedroom) single-family detached homes. East Ridge 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. East Ridge's housing was primarily built during this period, from the '40s through the '60s. A full 60.96% of the city's housing hails from this era. Other housing ages represented in East Ridge include homes built between 1970-1999 ( 28.73%) and housing constructed between 2000 and later ( 6.45%). There's also some housing in East Ridge built before 1939 ( 3.87%).

Vacant housing appears to be an issue in East Ridge. Fully 11.08% of the housing stock is classified as vacant. Left unchecked, vacant East Ridge homes and apartments can be a drag on the real estate market, holding East Ridge 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.

East Ridge Home Appreciation Rates

Real estate appreciation rates in East Ridge's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.15% during the period.

Over the last year, East Ridge appreciation rates have trailed the rest of the nation. In the last twelve months, East Ridge's appreciation rate has been 3.12%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in East Ridge were at 1.00%, which equates to an annual appreciation rate of 4.07%.

Relative to Tennessee, our data show that East Ridge'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 East Ridge differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in East Ridge - 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 East Ridge real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$131,299

East Ridge, TN HOME PRICES

Value Range
> $1,105,000 0.0
$829,001 - $1,105,000 0.1
$553,001 - $829,000 1.0
$442,001 - $553,000 0.0
$331,001 - $442,000 0.6
$221,001 - $331,000 8.3
$110,001 - $221,000 53.6
$55,001 - $110,000 33.3
$0 - $55,000 3.0

Average for TN
Average for Nation

Value Relative to Nation Value Relative to State
59.1527012773936 42.8571428571429

Number Of Homes And Apartments:
8,949

East Ridge Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
25.97% 1.35% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$985 / per month

Homeownership Rate

Homeownership
Owners 52.50
Renters 47.50
Vacant 11.08

Housing Market Details

 

Age of Homes

AGE OF East Ridge HOMES
2000 or Newer 6.4
1970 - 1999 28.7
1940 - 1969 61.0
1939 or Older 3.9

Types of Homes

TYPE OF East Ridge HOMES
Single-Family 63.1
Townhomes 2.5
Small Apt. Buildings 15.0
Apt. Complexes 18.8
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF East Ridge HOMES
No Bedroom 2.05
1 Bedroom 11.64
2 Bedrooms 38.42
3 Bedrooms 37.97
4 Bedrooms 8.14
5 or more bedrooms 1.79