Forest Hills, TN Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Forest Hills, TN Housing Market Trends

With 4,820 people, 1,796 houses or apartments, and a median cost of homes of $900,462, Forest Hills house prices are not only among the most expensive in Tennessee, Forest Hills real estate also is some of the most expensive in all of America.

Forest Hills is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Forest Hills than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Forest Hills. Owner-occupied housing accounts for 95.04% of Forest Hills's homes, and 74.47% have either three or four bedrooms, which is average sized relative to America.

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. Forest Hills's housing was primarily built during this period, from the '40s through the '60s. A full 48.10% of the city's housing hails from this era. Other housing ages represented in Forest Hills include homes built between 1970-1999 ( 34.76%) and housing constructed between 2000 and later ( 14.82%). There's also some housing in Forest Hills built before 1939 ( 2.32%).

Forest Hills Home Appreciation Rates

Appreciation rates for homes in Forest Hills have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 58.40%, which ranks in the top 30% nationwide. This equates to an annual average Forest Hills house appreciation rate of 4.71%.

Over the last year, Forest Hills appreciation rates have trailed the rest of the nation. In the last twelve months, Forest Hills's appreciation rate has been 4.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Forest Hills were at 1.47%, which equates to an annual appreciation rate of 5.99%.

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

Average Home Values

 

Median Home Value:
$900,462

Forest Hills, TN HOME PRICES

> $1,186,000
30.5%
30.5%
$890,001 - $1,186,000
25.9%
25.9%
$593,001 - $890,000
33.7%
33.7%
$475,001 - $593,000
3.9%
3.9%
$356,001 - $475,000
3.8%
3.8%
$237,001 - $356,000
0.0%
0.0%
$119,001 - $237,000
1.4%
1.4%
$59,001 - $119,000
0.2%
0.2%
$0 - $59,000
0.6%
0.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for TN

Value Relative To Nation

Number Of Homes And Apartments:
1,796

Forest Hills Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
146.15% 4.33%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$5,084 / per month

Homeownership Rate

Owners
95.0%
95.0%
Renters
5.0%
5.0%
Vacant
5.3%
5.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
14.8%
14.8%
1970 - 1999
34.8%
34.8%
1940 - 1969
48.1%
48.1%
1939 or Older
2.3%
2.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
97.3%
97.3%
Townhomes
0.5%
0.5%
Small Apt. Buildings
1.5%
1.5%
Apt. Complexes
0.0%
0.0%
Mobile Homes
0.7%
0.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.7%
0.7%
1 Bedroom
0.0%
0.0%
2 Bedrooms
1.2%
1.2%
3 Bedrooms
26.1%
26.1%
4 Bedrooms
48.4%
48.4%
5 or more bedrooms
23.7%
23.7%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Forest Hills

Zip Codes in Forest Hills, TN