Lenoir City, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lenoir City, 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

Lenoir City Housing Market Information

With 9,091 people, 3,289 houses or apartments, and a median cost of homes of $116,329, house prices in Lenoir City are solidly below the national average.

Single-family detached homes are the single most common housing type in Lenoir City, accounting for 63.50% of the city's housing units. Other types of housing that are prevalent in Lenoir City include large apartment complexes or high rise apartments ( 15.56%), mobile homes or trailers ( 9.34%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.36%).

The most prevalent building size and type in Lenoir City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.80% owning and 44.20% renting.

There is a lot of housing in Lenoir City 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 Lenoir City built between 1940-1969 ( 28.41%). A lesser amount of the housing stock also hails from between 2000 and later ( 28.27%). There's also some housing in Lenoir City built before 1939 ( 7.95%).

Lenoir City Home Appreciation Rates

Appreciation rates for homes in Lenoir City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.34%, which ranks in the top 50% nationwide. This equates to an annual average Lenoir City house appreciation rate of 0.13%.

NeighborhoodScout's data show that during the latest twelve months, Lenoir City's appreciation rate, at 3.71%, has been at or slightly above the national average. In the latest quarter, Lenoir City's appreciation rate has been 0.56%, which annualizes to a rate of 2.26%.

Relative to Tennessee, our data show that Lenoir City's latest annual appreciation rate is higher than 50% 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 Lenoir City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lenoir City - 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 Lenoir City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$116,329

Lenoir City, TN HOME PRICES

Value Range
> $1,063,000 1.2
$797,001 - $1,063,000 0.1
$531,001 - $797,000 0.8
$425,001 - $531,000 0.7
$319,001 - $425,000 3.7
$213,001 - $319,000 15.1
$106,001 - $213,000 35.2
$53,001 - $106,000 31.9
$0 - $53,000 11.2

Average for TN
Low for Nation

Value Relative to Nation Value Relative to State
67.5583030587132 55.3571428571429

Number Of Homes And Apartments:
3,289

Lenoir City 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
31.72% 1.61% 4 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$936 / per month

Homeownership Rate

Homeownership
Owners 55.80
Renters 44.20
Vacant 6.93

Housing Market Details

 

Age of Homes

AGE OF Lenoir City HOMES
2000 or Newer 28.3
1970 - 1999 35.4
1940 - 1969 28.4
1939 or Older 8.0

Types of Homes

TYPE OF Lenoir City HOMES
Single-Family 63.5
Townhomes 4.2
Small Apt. Buildings 7.4
Apt. Complexes 15.6
Mobile Homes 9.3
Other 0.0

Home Size

SIZE OF Lenoir City HOMES
No Bedroom 1.39
1 Bedroom 9.71
2 Bedrooms 31.01
3 Bedrooms 47.59
4 Bedrooms 9.79
5 or more bedrooms 0.51