Erin, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Erin Neighborhoods Since 2000




Erin, 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

Erin Housing Market Information

With a population of 1,295, 510 total housing units (homes and apartments), and a median house value of $95,489, house prices in Erin are solidly below the national average.

Single-family detached homes are the single most common housing type in Erin, accounting for 70.00% of the city's housing units. Other types of housing that are prevalent in Erin include mobile homes or trailers ( 14.84%), duplexes, homes converted to apartments or other small apartment buildings ( 11.56%), and a few large apartment complexes or high rise apartments ( 3.13%).

The most prevalent building size and type in Erin are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.98% owning and 50.02% renting.

There is a lot of housing in Erin 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 Erin built between 1940-1969 ( 28.91%). A lesser amount of the housing stock also hails from before 1939 ( 19.38%). There's also some housing in Erin built between 2000 and later ( 6.25%).

Vacant housing appears to be an issue in Erin. Fully 20.31% of the housing stock is classified as vacant. Left unchecked, vacant Erin homes and apartments can be a drag on the real estate market, holding Erin 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.

Erin Home Appreciation Rates

Appreciation rates for homes in Erin have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.63%, which ranks in the top 40% nationwide. This equates to an annual average Erin house appreciation rate of 0.83%.

Over the last year, Erin appreciation rates have trailed the rest of the nation. In the last twelve months, Erin's appreciation rate has been 3.14%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Erin were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Tennessee, our data show that Erin's latest annual appreciation rate is lower than 60% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$95,489

Erin, TN HOME PRICES

Value Range
> $1,093,000 0.0
$820,001 - $1,093,000 2.4
$547,001 - $820,000 0.0
$437,001 - $547,000 0.1
$328,001 - $437,000 0.1
$219,001 - $328,000 6.8
$109,001 - $219,000 31.2
$55,001 - $109,000 43.1
$0 - $55,000 16.3

Low for TN
Very Low for Nation

Value Relative to Nation Value Relative to State
80.5226766670573 79.8469387755102

Number Of Homes And Apartments:
510

Erin 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
46.76% 2.25% 8 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$977 / per month

Homeownership Rate

Homeownership
Owners 49.98
Renters 50.02
Vacant 20.31

Housing Market Details

 

Age of Homes

AGE OF Erin HOMES
2000 or Newer 6.3
1970 - 1999 45.5
1940 - 1969 28.9
1939 or Older 19.4

Types of Homes

TYPE OF Erin HOMES
Single-Family 70.0
Townhomes 0.5
Small Apt. Buildings 11.6
Apt. Complexes 3.1
Mobile Homes 14.8
Other 0.0

Home Size

SIZE OF Erin HOMES
No Bedroom 1.56
1 Bedroom 16.25
2 Bedrooms 26.41
3 Bedrooms 43.44
4 Bedrooms 10.00
5 or more bedrooms 2.34