Hendersonville, 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 Q2 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

Hendersonville, TN Housing Market Trends

With 58,113 people, 21,328 houses or apartments, and a median cost of homes of $294,532, Hendersonville real estate is some of the most expensive in Tennessee, although Hendersonville home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Hendersonville, accounting for 71.54% of the city's housing units. Other types of housing that are prevalent in Hendersonville include large apartment complexes or high rise apartments ( 21.25%), row houses and other attached homes ( 3.88%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.66%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hendersonville. Owner-occupied housing accounts for 69.74% of Hendersonville's homes, and 67.77% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Hendersonville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hendersonville built between 2000 and later ( 29.52%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.70%).

Hendersonville Home Appreciation Rates

In the last 10 years, Hendersonville has experienced some of the highest home appreciation rates of any community in the nation. Hendersonville real estate appreciated 70.11% over the last ten years, which is an average annual home appreciation rate of 5.46%, putting Hendersonville in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hendersonville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Hendersonville appreciation rates have trailed the rest of the nation. In the last twelve months, Hendersonville's appreciation rate has been 8.30%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hendersonville were at 2.94%, which equates to an annual appreciation rate of 12.28%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Hendersonville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hendersonville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Hendersonville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$294,532

Hendersonville, TN HOME PRICES

> $1,288,000
1.3%
1.3%
$966,001 - $1,288,000
2.3%
2.3%
$644,001 - $966,000
5.0%
5.0%
$515,001 - $644,000
6.1%
6.1%
$386,001 - $515,000
18.7%
18.7%
$258,001 - $386,000
33.1%
33.1%
$129,001 - $258,000
30.5%
30.5%
$64,001 - $129,000
2.0%
2.0%
$0 - $64,000
1.0%
1.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for TN

Value Relative To Nation

Number Of Homes And Apartments:
21,328

Hendersonville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
106.35% 3.43%
8
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,872 / per month

Homeownership Rate

Owners
69.7%
69.7%
Renters
30.3%
30.3%
Vacant
5.4%
5.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
29.5%
29.5%
1970 - 1999
50.5%
50.5%
1940 - 1969
19.7%
19.7%
1939 or Older
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
71.5%
71.5%
Townhomes
3.9%
3.9%
Small Apt. Buildings
2.7%
2.7%
Apt. Complexes
21.3%
21.3%
Mobile Homes
0.7%
0.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.7%
1.7%
1 Bedroom
9.1%
9.1%
2 Bedrooms
16.9%
16.9%
3 Bedrooms
43.7%
43.7%
4 Bedrooms
24.1%
24.1%
5 or more bedrooms
4.5%
4.5%
0.0% 100.0%
% OF HOMES