McKenzie, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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McKenzie, 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

McKenzie Housing Market Information

With a population of 5,296, 2,134 total housing units (homes and apartments), and a median house value of $127,404, house prices in McKenzie are solidly below the national average.

Single-family detached homes are the single most common housing type in McKenzie, accounting for 74.30% of the city's housing units. Other types of housing that are prevalent in McKenzie include duplexes, homes converted to apartments or other small apartment buildings ( 15.14%), mobile homes or trailers ( 6.43%), and a few large apartment complexes or high rise apartments ( 4.14%).

The most prevalent building size and type in McKenzie are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.38% owning and 45.62% renting.

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. McKenzie's housing was primarily built during this period, from the '40s through the '60s. A full 40.04% of the city's housing hails from this era. Other housing ages represented in McKenzie include homes built between 1970-1999 ( 36.39%) and housing constructed before 1939 ( 11.97%). There's also some housing in McKenzie built between 2000 and later ( 11.61%).

Vacant housing appears to be an issue in McKenzie. Fully 14.30% of the housing stock is classified as vacant. Left unchecked, vacant McKenzie homes and apartments can be a drag on the real estate market, holding McKenzie 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.

McKenzie Home Appreciation Rates

Appreciation rates for homes in McKenzie have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.83%, which ranks in the top 40% nationwide. This equates to an annual average McKenzie house appreciation rate of 0.85%.

Appreciation rates are so strong in McKenzie that despite a nationwide downturn in the housing market, McKenzie real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, McKenzie appreciation rates continue to be some of the highest in America, at 6.21%, which is higher than appreciation rates in 75.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in McKenzie. McKenzie appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Tennessee, our data show that McKenzie's latest annual appreciation rate is higher than 70% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$127,404

McKenzie, TN HOME PRICES

Value Range
> $1,119,000 0.0
$839,001 - $1,119,000 0.0
$559,001 - $839,000 1.0
$447,001 - $559,000 0.8
$336,001 - $447,000 3.8
$224,001 - $336,000 7.4
$112,001 - $224,000 29.3
$56,001 - $112,000 39.8
$0 - $56,000 18.0

Average for TN
Low for Nation

Value Relative to Nation Value Relative to State
61.2211414508379 45.4081632653061

Number Of Homes And Apartments:
2,134

McKenzie 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
34.90% 1.75% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$929 / per month

Homeownership Rate

Homeownership
Owners 54.38
Renters 45.62
Vacant 14.30

Housing Market Details

 

Age of Homes

AGE OF McKenzie HOMES
2000 or Newer 11.6
1970 - 1999 36.4
1940 - 1969 40.0
1939 or Older 12.0

Types of Homes

TYPE OF McKenzie HOMES
Single-Family 74.3
Townhomes 0.0
Small Apt. Buildings 15.1
Apt. Complexes 4.1
Mobile Homes 6.4
Other 0.0

Home Size

SIZE OF McKenzie HOMES
No Bedroom 0.92
1 Bedroom 7.11
2 Bedrooms 35.66
3 Bedrooms 45.90
4 Bedrooms 10.40
5 or more bedrooms 0.00

Popular Neighborhoods in McKenzie

Zip Codes in McKenzie, TN