Gainesboro, 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

Gainesboro, TN Housing Market Trends

With 959 people, 347 houses or apartments, and a median cost of homes of $214,752, Gainesboro real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Gainesboro, accounting for 69.09% of the town's housing units. Other types of housing that are prevalent in Gainesboro include large apartment complexes or high rise apartments ( 13.41%), duplexes, homes converted to apartments or other small apartment buildings ( 10.45%), and a few mobile homes or trailers ( 6.36%).

The most prevalent building size and type in Gainesboro are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 43.11% owning and 56.89% 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. Gainesboro's housing was primarily built during this period, from the '40s through the '60s. A full 44.77% of the town's housing hails from this era. Other housing ages represented in Gainesboro include homes built between 1970-1999 ( 33.64%) and housing constructed before 1939 ( 14.77%). There's also some housing in Gainesboro built between 2000 and later ( 6.82%).

Vacant housing appears to be an issue in Gainesboro. Fully 21.14% of the housing stock is classified as vacant. Left unchecked, vacant Gainesboro homes and apartments can be a drag on the real estate market, holding Gainesboro 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.

Gainesboro Home Appreciation Rates

Appreciation rates for homes in Gainesboro have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 42.13%, which ranks in the top 40% nationwide. This equates to an annual average Gainesboro house appreciation rate of 3.58%.

Over the last year, Gainesboro appreciation rates have trailed the rest of the nation. In the last twelve months, Gainesboro's appreciation rate has been 4.70%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gainesboro were at 2.03%, which equates to an annual appreciation rate of 8.39%.

Relative to Tennessee, our data show that Gainesboro's latest annual appreciation rate is lower than 90% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$214,752

Gainesboro, TN HOME PRICES

> $1,266,000
1.4%
1.4%
$949,001 - $1,266,000
1.1%
1.1%
$633,001 - $949,000
3.7%
3.7%
$506,001 - $633,000
3.0%
3.0%
$380,001 - $506,000
6.3%
6.3%
$253,001 - $380,000
17.6%
17.6%
$127,001 - $253,000
28.0%
28.0%
$63,001 - $127,000
24.2%
24.2%
$0 - $63,000
14.7%
14.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for TN

Value Relative To Nation

Number Of Homes And Apartments:
347

Gainesboro 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
71.39% 2.57%
4
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$714 / per month

Homeownership Rate

Owners
43.1%
43.1%
Renters
56.9%
56.9%
Vacant
21.1%
21.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
6.8%
6.8%
1970 - 1999
33.6%
33.6%
1940 - 1969
44.8%
44.8%
1939 or Older
14.8%
14.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
69.1%
69.1%
Townhomes
0.7%
0.7%
Small Apt. Buildings
10.5%
10.5%
Apt. Complexes
13.4%
13.4%
Mobile Homes
6.4%
6.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.5%
0.5%
1 Bedroom
14.8%
14.8%
2 Bedrooms
32.7%
32.7%
3 Bedrooms
42.5%
42.5%
4 Bedrooms
8.0%
8.0%
5 or more bedrooms
1.6%
1.6%
0.0% 100.0%
% OF HOMES