Martin, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Martin, TN Real Estate Data


Martin Housing Market Information

With 10,959 people, 4,071 houses or apartments, and a median cost of homes of $115,179, house prices in Martin are solidly below the national average.

Single-family detached homes are the single most common housing type in Martin, accounting for 56.13% of the city's housing units. Other types of housing that are prevalent in Martin include duplexes, homes converted to apartments or other small apartment buildings ( 23.85%), large apartment complexes or high rise apartments ( 16.29%), and a few mobile homes or trailers ( 2.43%).

The most prevalent building size and type in Martin are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 36.16% owning and 63.84% renting.

There is a lot of housing in Martin 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 Martin built between 1940-1969 ( 24.13%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.77%). There's also some housing in Martin built before 1939 ( 6.09%).

Vacant housing appears to be an issue in Martin. Fully 12.38% of the housing stock is classified as vacant. Left unchecked, vacant Martin homes and apartments can be a drag on the real estate market, holding Martin 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.

Martin Home Appreciation Rates

Appreciation rates for homes in Martin have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.69%, which ranks in the top 50% nationwide. This equates to an annual average Martin house appreciation rate of 0.36%.

Over the last year, Martin appreciation rates have trailed the rest of the nation. In the last twelve months, Martin's appreciation rate has been 0.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Martin were at 0.13%, which equates to an annual appreciation rate of 0.51%.

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

Average Home Values

 

Median Home Value:
$115,179

Martin, TN HOME PRICES

Value Range
> $1,051,000 0.0
$788,001 - $1,051,000 0.0
$525,001 - $788,000 0.6
$420,001 - $525,000 0.5
$315,001 - $420,000 3.9
$210,001 - $315,000 9.1
$105,001 - $210,000 40.2
$52,001 - $105,000 36.3
$0 - $52,000 9.5

Average for TN
Low for Nation

Value Relative to Nation Value Relative to State
68.1032462205555 57.3979591836735

Number Of Homes And Apartments:
4,071

Rent & Ownership

 

Average Market Rent:
$736 / per month

Homeownership Rate

Homeownership
Owners 36.16
Renters 63.84
Vacant 12.38

Housing Market Details

 

Age of Homes

AGE OF Martin HOMES
2000 or Newer 14.8
1970 - 1999 55.0
1940 - 1969 24.1
1939 or Older 6.1

Types of Homes

TYPE OF Martin HOMES
Single-Family 56.1
Townhomes 1.3
Small Apt. Buildings 23.8
Apt. Complexes 16.3
Mobile Homes 2.4
Other 0.0

Home Size

SIZE OF Martin HOMES
No Bedroom 1.31
1 Bedroom 13.73
2 Bedrooms 30.54
3 Bedrooms 39.75
4 Bedrooms 12.91
5 or more bedrooms 1.74

Martin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
15.73% 0.85% 1 2
* 10 is highest