Jasper, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Jasper, TN Real Estate Data


Jasper Housing Market Information

With a population of 3,312, 1,221 total housing units (homes and apartments), and a median house value of $136,172, house prices in Jasper are solidly below the national average.

Single-family detached homes are the single most common housing type in Jasper, accounting for 80.42% of the town's housing units. Other types of housing that are prevalent in Jasper include duplexes, homes converted to apartments or other small apartment buildings ( 7.50%), large apartment complexes or high rise apartments ( 6.60%), and a few mobile homes or trailers ( 5.49%).

The most prevalent building size and type in Jasper are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 57.76% owning and 42.24% renting.

There is a lot of housing in Jasper 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 Jasper built between 1940-1969 ( 23.82%). A lesser amount of the housing stock also hails from before 1939 ( 12.22%). There's also some housing in Jasper built between 2000 and later ( 7.36%).

Vacant housing appears to be an issue in Jasper. Fully 15.21% of the housing stock is classified as vacant. Left unchecked, vacant Jasper homes and apartments can be a drag on the real estate market, holding Jasper 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.

Jasper Home Appreciation Rates

Appreciation rates for homes in Jasper have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.22%, which ranks in the top 40% nationwide. This equates to an annual average Jasper house appreciation rate of 0.89%.

NeighborhoodScout's data show that during the latest twelve months, Jasper's appreciation rate, at 4.59%, has been at or slightly above the national average. In the latest quarter, Jasper's appreciation rate has been 1.04%, which annualizes to a rate of 4.24%.

Relative to Tennessee, our data show that Jasper's latest annual appreciation rate is lower than 50% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$136,172

Jasper, TN HOME PRICES

Value Range
> $1,107,000 0.0
$830,001 - $1,107,000 0.0
$553,001 - $830,000 1.7
$443,001 - $553,000 1.5
$332,001 - $443,000 3.5
$221,001 - $332,000 12.1
$111,001 - $221,000 42.2
$55,001 - $111,000 29.2
$0 - $55,000 9.8

High for TN
Average for Nation

Value Relative to Nation Value Relative to State
57.6037945775019 37.7551020408163

Number Of Homes And Apartments:
1,221

Rent & Ownership

 

Average Market Rent:
$707 / per month

Homeownership Rate

Homeownership
Owners 57.76
Renters 42.24
Vacant 15.21

Housing Market Details

 

Age of Homes

AGE OF Jasper HOMES
2000 or Newer 7.4
1970 - 1999 56.6
1940 - 1969 23.8
1939 or Older 12.2

Types of Homes

TYPE OF Jasper HOMES
Single-Family 80.4
Townhomes 0.0
Small Apt. Buildings 7.5
Apt. Complexes 6.6
Mobile Homes 5.5
Other 0.0

Home Size

SIZE OF Jasper HOMES
No Bedroom 1.04
1 Bedroom 6.94
2 Bedrooms 24.17
3 Bedrooms 46.39
4 Bedrooms 19.44
5 or more bedrooms 2.01

Jasper Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
39.88% 1.99% 6 5
* 10 is highest

Popular Neighborhoods in Jasper

Zip Codes in Jasper, TN