menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



McKenzie, TN Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

McKenzie, TN Housing Market Trends

With a population of 5,531, 2,063 total housing units (homes and apartments), and a median house value of $239,656, 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 65.12% 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 ( 19.72%), mobile homes or trailers ( 9.17%), and a few large apartment complexes or high rise apartments ( 5.47%).

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 50.07% owning and 49.93% renting.

There is a lot of housing in McKenzie 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 McKenzie built between 1940-1969 ( 32.15%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.51%). There's also some housing in McKenzie built before 1939 ( 9.99%).

Vacant housing appears to be an issue in McKenzie. Fully 10.38% 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

McKenzie's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in McKenzie during the period has been just 5.17%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, McKenzie's appreciation rate, at 4.87%, has been at or slightly above the national average. In the latest quarter, McKenzie's appreciation rate has been 0.34%, which annualizes to a rate of 1.36%.

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

Average Home Values

Median Home Value

$239,656

McKenzie, TN Home Prices
> $1,269,000
$952,001 - $1,269,000
$634,001 - $952,000
$508,001 - $634,000
$381,001 - $508,000
$254,001 - $381,000
$127,001 - $254,000
$63,001 - $127,000
$0 - $63,000
2.8%
2.8%
0.0%
0.0%
1.4%
1.4%
0.2%
0.2%
10.4%
10.4%
27.4%
27.4%
29.8%
29.8%
21.9%
21.9%
6.1%
6.1%
0% 100.0%
% of Homes
Average

for Tennessee

Average

for nation

Number of Homes And Apartments:

2,063

McKenzie Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,284 / per month

Homeownership Rate

Owners
Renters
50.1%
50.1%
49.9%
49.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.4%
10.4%
89.6%
89.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
10.5%
10.5%
47.4%
47.4%
32.1%
32.1%
10.0%
10.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
65.1%
65.1%
0.5%
0.5%
19.7%
19.7%
5.5%
5.5%
9.2%
9.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.3%
1.3%
11.7%
11.7%
26.8%
26.8%
46.6%
46.6%
10.7%
10.7%
2.9%
2.9%
0% 100.0%
% of Homes

Zip Codes in McKenzie, TN