Erwin, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Erwin, 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

Erwin Housing Market Information

With a population of 5,979, 2,460 total housing units (homes and apartments), and a median house value of $102,959, house prices in Erwin are solidly below the national average.

Single-family detached homes are the single most common housing type in Erwin, accounting for 69.89% of the town's housing units. Other types of housing that are prevalent in Erwin include mobile homes or trailers ( 14.63%), large apartment complexes or high rise apartments ( 10.85%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.14%).

The most prevalent building size and type in Erwin are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.70% owning and 37.30% renting.

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. Erwin's housing was primarily built during this period, from the '40s through the '60s. A full 35.20% of the town's housing hails from this era. Other housing ages represented in Erwin include homes built between 1970-1999 ( 30.88%) and housing constructed before 1939 ( 25.67%). There's also some housing in Erwin built between 2000 and later ( 8.25%).

Erwin Home Appreciation Rates

Real estate appreciation rates in Erwin's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.40% during the period.

Over the last year, Erwin appreciation rates have trailed the rest of the nation. In the last twelve months, Erwin's appreciation rate has been 1.96%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Erwin were at -0.93%, which equates to an annual appreciation rate of -3.69%.

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

Relative to Tennessee, our data show that Erwin's latest annual appreciation rate is lower than 80% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$102,959

Erwin, TN HOME PRICES

Value Range
> $1,010,000 0.3
$757,001 - $1,010,000 0.3
$505,001 - $757,000 0.8
$404,001 - $505,000 0.3
$303,001 - $404,000 2.3
$202,001 - $303,000 6.6
$101,001 - $202,000 40.9
$51,001 - $101,000 37.8
$0 - $51,000 10.6

Low for TN
Low for Nation

Value Relative to Nation Value Relative to State
75.6650650416032 69.1326530612245

Number Of Homes And Apartments:
2,460

Erwin 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
28.25% 1.45% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$670 / per month

Homeownership Rate

Homeownership
Owners 62.70
Renters 37.30
Vacant 9.79

Housing Market Details

 

Age of Homes

AGE OF Erwin HOMES
2000 or Newer 8.3
1970 - 1999 30.9
1940 - 1969 35.2
1939 or Older 25.7

Types of Homes

TYPE OF Erwin HOMES
Single-Family 69.9
Townhomes 0.5
Small Apt. Buildings 4.1
Apt. Complexes 10.9
Mobile Homes 14.6
Other 0.0

Home Size

SIZE OF Erwin HOMES
No Bedroom 1.43
1 Bedroom 6.82
2 Bedrooms 33.70
3 Bedrooms 47.74
4 Bedrooms 7.81
5 or more bedrooms 2.49

Popular Neighborhoods in Erwin

Zip Codes in Erwin, TN