Leoma, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Leoma, 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

Leoma Housing Market Information

With a population of 5,711, 1,148 total housing units (homes and apartments), and a median house value of $101,736, house prices in Leoma are solidly below the national average.

Single-family detached homes are the single most common housing type in Leoma, accounting for 76.15% of the town's housing units. Other types of housing that are prevalent in Leoma include mobile homes or trailers ( 23.85%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Leoma. Owner-occupied housing accounts for 85.99% of Leoma's homes, and 73.08% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Leoma 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 Leoma built between 1940-1969 ( 23.03%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.21%). There's also some housing in Leoma built before 1939 ( 6.33%).

Vacant housing appears to be an issue in Leoma. Fully 14.83% of the housing stock is classified as vacant. Left unchecked, vacant Leoma homes and apartments can be a drag on the real estate market, holding Leoma 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.

Leoma Home Appreciation Rates

Appreciation rates for homes in Leoma have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.53%, which ranks in the top 40% nationwide. This equates to an annual average Leoma house appreciation rate of 0.54%.

Over the last year, Leoma appreciation rates have trailed the rest of the nation. In the last twelve months, Leoma's appreciation rate has been 2.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Leoma were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Tennessee, our data show that Leoma's latest annual appreciation rate is lower than 60% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$101,736

Leoma, TN HOME PRICES

Value Range
> $1,080,000 1.1
$810,001 - $1,080,000 0.7
$540,001 - $810,000 1.3
$432,001 - $540,000 0.0
$324,001 - $432,000 0.8
$216,001 - $324,000 10.5
$108,001 - $216,000 33.2
$54,001 - $108,000 33.1
$0 - $54,000 19.3

Low for TN
Low for Nation

Value Relative to Nation Value Relative to State
76.4736903785304 70.6632653061224

Number Of Homes And Apartments:
1,148

Leoma 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
44.55% 2.16% 7 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$933 / per month

Homeownership Rate

Homeownership
Owners 85.99
Renters 14.01
Vacant 14.83

Housing Market Details

 

Age of Homes

AGE OF Leoma HOMES
2000 or Newer 20.2
1970 - 1999 50.4
1940 - 1969 23.0
1939 or Older 6.3

Types of Homes

TYPE OF Leoma HOMES
Single-Family 76.1
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 23.9
Other 0.0

Home Size

SIZE OF Leoma HOMES
No Bedroom 1.88
1 Bedroom 1.87
2 Bedrooms 19.87
3 Bedrooms 59.50
4 Bedrooms 13.59
5 or more bedrooms 3.30

Popular Neighborhoods in Leoma

Zip Codes in Leoma, TN