La Follette, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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La Follette, TN Real Estate Data

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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

La Follette Housing Market Information

With a population of 7,053, 2,912 total housing units (homes and apartments), and a median house value of $117,596, house prices in La Follette are solidly below the national average.

Single-family detached homes are the single most common housing type in La Follette, accounting for 68.76% of the city's housing units. Other types of housing that are prevalent in La Follette include large apartment complexes or high rise apartments ( 18.36%), duplexes, homes converted to apartments or other small apartment buildings ( 8.72%), and a few mobile homes or trailers ( 3.50%).

People in La Follette primarily live in small (one, two or no bedroom) single-family detached homes. La Follette has a mixture of owner-occupied and renter-occupied housing.

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. La Follette's housing was primarily built during this period, from the '40s through the '60s. A full 41.74% of the city's housing hails from this era. Other housing ages represented in La Follette include homes built between 1970-1999 ( 41.71%) and housing constructed before 1939 ( 10.18%). There's also some housing in La Follette built between 2000 and later ( 6.37%).

Vacant housing appears to be an issue in La Follette. Fully 16.47% of the housing stock is classified as vacant. Left unchecked, vacant La Follette homes and apartments can be a drag on the real estate market, holding La Follette 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.

La Follette Home Appreciation Rates

Appreciation rates for homes in La Follette have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.45%, which ranks in the top 40% nationwide. This equates to an annual average La Follette house appreciation rate of 0.81%.

Appreciation rates are so strong in La Follette that despite a nationwide downturn in the housing market, La Follette real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, La Follette appreciation rates continue to be some of the highest in America, at 8.31%, which is higher than appreciation rates in 88.16% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in La Follette. La Follette appreciation rates in the latest quarter were at 0.56%, which equates to an annual appreciation rate of 2.26%.

Relative to Tennessee, our data show that La Follette's latest annual appreciation rate is higher than 80% 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 La Follette differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in La Follette - 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 La Follette real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$117,596

La Follette, TN HOME PRICES

Value Range
> $1,113,000 0.0
$835,001 - $1,113,000 0.1
$556,001 - $835,000 0.3
$445,001 - $556,000 0.8
$334,001 - $445,000 1.1
$223,001 - $334,000 5.1
$111,001 - $223,000 29.6
$56,001 - $111,000 34.1
$0 - $56,000 29.0

Average for TN
Low for Nation

Value Relative to Nation Value Relative to State
66.8932380171101 54.3367346938776

Number Of Homes And Apartments:
2,912

La Follette Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
46.13% 2.22% 8 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$778 / per month

Homeownership Rate

Homeownership
Owners 44.81
Renters 55.19
Vacant 16.47

Housing Market Details

 

Age of Homes

AGE OF La Follette HOMES
2000 or Newer 6.4
1970 - 1999 41.7
1940 - 1969 41.7
1939 or Older 10.2

Types of Homes

TYPE OF La Follette HOMES
Single-Family 68.8
Townhomes 0.7
Small Apt. Buildings 8.7
Apt. Complexes 18.4
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF La Follette HOMES
No Bedroom 4.10
1 Bedroom 12.88
2 Bedrooms 38.15
3 Bedrooms 34.39
4 Bedrooms 9.81
5 or more bedrooms 0.66

Zip Codes in La Follette, TN