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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Harriman, 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Harriman, TN Housing Market Trends

With 6,094 people, 2,542 houses or apartments, and a median cost of homes of $239,154, house prices in Harriman are solidly below the national average.

Single-family detached homes are the single most common housing type in Harriman, accounting for 76.22% of the city's housing units. Other types of housing that are prevalent in Harriman include large apartment complexes or high rise apartments ( 10.27%), duplexes, homes converted to apartments or other small apartment buildings ( 7.96%), and a few row houses and other attached homes ( 2.94%).

The most prevalent building size and type in Harriman are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.33% owning and 37.67% 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. Harriman's housing was primarily built during this period, from the '40s through the '60s. A full 40.62% of the city's housing hails from this era. Other housing ages represented in Harriman include homes built between 1970-1999 ( 38.80%) and housing constructed before 1939 ( 17.47%). There's also some housing in Harriman built between 2000 and later ( 3.10%).

Vacant housing appears to be an issue in Harriman. Fully 16.05% of the housing stock is classified as vacant. Left unchecked, vacant Harriman homes and apartments can be a drag on the real estate market, holding Harriman 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.

Harriman Home Appreciation Rates

In the last 10 years, Harriman has experienced some of the highest home appreciation rates of any community in the nation. Harriman real estate appreciated 129.59% over the last ten years, which is an average annual home appreciation rate of 8.67%, putting Harriman in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Harriman definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Harriman that despite a nationwide downturn in the housing market, Harriman real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Harriman appreciation rates continue to be some of the highest in America, at 10.48%, which is higher than appreciation rates in 95.88% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Harriman. Harriman appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.66%.

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

Average Home Values

Median Home Value

$239,154

Harriman, TN Home Prices
> $1,629,000
$1,222,001 - $1,629,000
$814,001 - $1,222,000
$652,001 - $814,000
$488,001 - $652,000
$326,001 - $488,000
$163,001 - $326,000
$82,001 - $163,000
$0 - $82,000
1.0%
1.0%
0.0%
0.0%
0.7%
0.7%
0.2%
0.2%
1.9%
1.9%
16.1%
16.1%
47.5%
47.5%
13.7%
13.7%
18.8%
18.8%
0% 100.0%
% of Homes
Average

for Tennessee

Average

for nation

Number of Homes And Apartments:

2,542

Harriman Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,386 / per month

Homeownership Rate

Owners
Renters
62.3%
62.3%
37.7%
37.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
16.1%
16.1%
83.9%
83.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.1%
3.1%
38.8%
38.8%
40.6%
40.6%
17.5%
17.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
76.2%
76.2%
2.9%
2.9%
8.0%
8.0%
10.3%
10.3%
2.6%
2.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
14.4%
14.4%
31.0%
31.0%
41.3%
41.3%
10.1%
10.1%
3.2%
3.2%
0% 100.0%
% of Homes