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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.



McMinnville, 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

McMinnville, TN Housing Market Trends

With a population of 13,787, 5,571 total housing units (homes and apartments), and a median house value of $184,021, house prices in McMinnville are solidly below the national average.

Single-family detached homes are the single most common housing type in McMinnville, accounting for 62.87% of the city's housing units. Other types of housing that are prevalent in McMinnville include duplexes, homes converted to apartments or other small apartment buildings ( 20.19%), large apartment complexes or high rise apartments ( 13.09%), and a few row houses and other attached homes ( 3.40%).

The most prevalent building size and type in McMinnville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.22% owning and 52.78% 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. McMinnville's housing was primarily built during this period, from the '40s through the '60s. A full 43.98% of the city's housing hails from this era. Other housing ages represented in McMinnville include homes built between 1970-1999 ( 42.71%) and housing constructed between 2000 and later ( 6.69%). There's also some housing in McMinnville built before 1939 ( 6.62%).

Vacant housing appears to be an issue in McMinnville. Fully 12.75% of the housing stock is classified as vacant. Left unchecked, vacant McMinnville homes and apartments can be a drag on the real estate market, holding McMinnville 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.

McMinnville Home Appreciation Rates

In the last 10 years, McMinnville has experienced some of the highest home appreciation rates of any community in the nation. McMinnville real estate appreciated 116.78% over the last ten years, which is an average annual home appreciation rate of 8.04%, putting McMinnville in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, McMinnville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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

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

Average Home Values

Median Home Value

$184,021

McMinnville, TN Home Prices
> $1,413,000
$1,060,001 - $1,413,000
$706,001 - $1,060,000
$565,001 - $706,000
$424,001 - $565,000
$282,001 - $424,000
$141,001 - $282,000
$71,001 - $141,000
$0 - $71,000
0.5%
0.5%
0.0%
0.0%
1.3%
1.3%
2.2%
2.2%
6.7%
6.7%
12.4%
12.4%
48.4%
48.4%
22.1%
22.1%
6.4%
6.4%
0% 100.0%
% of Homes
Low

for Tennessee

Low

for nation

Number of Homes And Apartments:

5,571

McMinnville Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,214 / per month

Homeownership Rate

Owners
Renters
47.2%
47.2%
52.8%
52.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
12.7%
12.7%
87.3%
87.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.7%
6.7%
42.7%
42.7%
44.0%
44.0%
6.6%
6.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.9%
62.9%
3.4%
3.4%
20.2%
20.2%
13.1%
13.1%
0.5%
0.5%
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
2.2%
2.2%
9.7%
9.7%
34.3%
34.3%
40.7%
40.7%
10.0%
10.0%
3.1%
3.1%
0% 100.0%
% of Homes