Monterey, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Monterey, 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

Monterey Housing Market Information

With 2,860 people, 1,063 houses or apartments, and a median cost of homes of $100,814, house prices in Monterey are solidly below the national average.

Single-family detached homes are the single most common housing type in Monterey, accounting for 69.04% of the town's housing units. Other types of housing that are prevalent in Monterey include large apartment complexes or high rise apartments ( 11.79%), mobile homes or trailers ( 10.43%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.74%).

The most prevalent building size and type in Monterey are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 47.93% owning and 52.07% renting.

There is a lot of housing in Monterey 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 Monterey built between 1940-1969 ( 39.19%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.80%). There's also some housing in Monterey built before 1939 ( 7.12%).

Monterey Home Appreciation Rates

Real estate appreciation rates in Monterey's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.01% during the period.

NeighborhoodScout's data show that during the latest twelve months, Monterey's appreciation rate, at 5.03%, has been at or slightly above the national average. In the latest quarter, Monterey's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$100,814

Monterey, TN HOME PRICES

Value Range
> $1,064,000 0.0
$798,001 - $1,064,000 0.0
$532,001 - $798,000 0.0
$426,001 - $532,000 0.0
$319,001 - $426,000 8.2
$213,001 - $319,000 9.4
$107,001 - $213,000 26.0
$53,001 - $107,000 43.8
$0 - $53,000 12.7

Low for TN
Low for Nation

Value Relative to Nation Value Relative to State
77.0713699753897 71.9387755102041

Number Of Homes And Apartments:
1,063

Monterey 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
24.74% 1.29% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$668 / per month

Homeownership Rate

Homeownership
Owners 47.93
Renters 52.07
Vacant 9.84

Housing Market Details

 

Age of Homes

AGE OF Monterey HOMES
2000 or Newer 7.8
1970 - 1999 45.9
1940 - 1969 39.2
1939 or Older 7.1

Types of Homes

TYPE OF Monterey HOMES
Single-Family 69.0
Townhomes 0.0
Small Apt. Buildings 8.7
Apt. Complexes 11.8
Mobile Homes 10.4
Other 0.0

Home Size

SIZE OF Monterey HOMES
No Bedroom 0.00
1 Bedroom 10.35
2 Bedrooms 37.91
3 Bedrooms 43.17
4 Bedrooms 8.14
5 or more bedrooms 0.42

Popular Neighborhoods in Monterey

Zip Codes in Monterey, TN