Erwin, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Erwin, TN Real Estate Data


Erwin Housing Market Information

With 5,979 people, 2,460 houses or apartments, and a median cost of homes of $104,029, 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 -0.19% 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 0.88%, 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 -0.84%, which equates to an annual appreciation rate of -3.32%.

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:
$104,029

Erwin, TN HOME PRICES

Value Range
> $1,020,000 0.3
$765,001 - $1,020,000 0.3
$510,001 - $765,000 0.8
$408,001 - $510,000 0.3
$306,001 - $408,000 2.3
$204,001 - $306,000 6.6
$102,001 - $204,000 40.9
$51,001 - $102,000 37.8
$0 - $51,000 10.6

Low for TN
Low for Nation

Value Relative to Nation Value Relative to State
74.909176139693 68.3673469387755

Number Of Homes And Apartments:
2,460

Rent & Ownership

 

Average Market Rent:
$653 / 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

Erwin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
29.52% 1.51% 4 3
* 10 is highest

Popular Neighborhoods in Erwin

Zip Codes in Erwin, TN