Mountain City, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Mountain City Neighborhoods Since 2000




Mountain City, TN Real Estate Data


Mountain City Housing Market Information

With 2,475 people, 1,202 houses or apartments, and a median cost of homes of $140,089, house prices in Mountain City are solidly below the national average.

Single-family detached homes are the single most common housing type in Mountain City, accounting for 72.90% of the town's housing units. Other types of housing that are prevalent in Mountain City include duplexes, homes converted to apartments or other small apartment buildings ( 11.50%), large apartment complexes or high rise apartments ( 9.41%), and a few mobile homes or trailers ( 5.78%).

The most prevalent building size and type in Mountain City are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 51.78% owning and 48.22% renting.

There is a lot of housing in Mountain City 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 Mountain City built between 1940-1969 ( 35.98%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.82%). There's also some housing in Mountain City built before 1939 ( 4.24%).

Vacant housing appears to be an issue in Mountain City. Fully 19.17% of the housing stock is classified as vacant. Left unchecked, vacant Mountain City homes and apartments can be a drag on the real estate market, holding Mountain City 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.

Mountain City Home Appreciation Rates

In the last 10 years, Mountain City has experienced some of the highest home appreciation rates of any community in the nation. Mountain City real estate appreciated 23.35% over the last ten years, which is an average annual home appreciation rate of 2.12%, putting Mountain City in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Mountain City 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, Mountain City's appreciation rate, at 4.65%, has been at or slightly above the national average. In the latest quarter, Mountain City's appreciation rate has been 1.80%, which annualizes to a rate of 7.39%.

Relative to Tennessee, our data show that Mountain City's latest annual appreciation rate is lower than 50% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$140,089

Mountain City, TN HOME PRICES

Value Range
> $1,121,000 0.0
$840,001 - $1,121,000 1.6
$560,001 - $840,000 0.7
$448,001 - $560,000 1.3
$336,001 - $448,000 0.8
$224,001 - $336,000 14.1
$112,001 - $224,000 42.7
$56,001 - $112,000 25.7
$0 - $56,000 13.0

High for TN
Average for Nation

Value Relative to Nation Value Relative to State
55.7006499970721 35.969387755102

Number Of Homes And Apartments:
1,202

Rent & Ownership

 

Average Market Rent:
$613 / per month

Homeownership Rate

Homeownership
Owners 51.78
Renters 48.22
Vacant 19.17

Housing Market Details

 

Age of Homes

AGE OF Mountain City HOMES
2000 or Newer 9.8
1970 - 1999 50.0
1940 - 1969 36.0
1939 or Older 4.2

Types of Homes

TYPE OF Mountain City HOMES
Single-Family 72.9
Townhomes 0.4
Small Apt. Buildings 11.5
Apt. Complexes 9.4
Mobile Homes 5.8
Other 0.0

Home Size

SIZE OF Mountain City HOMES
No Bedroom 0.00
1 Bedroom 12.04
2 Bedrooms 25.89
3 Bedrooms 46.40
4 Bedrooms 14.73
5 or more bedrooms 0.94

Mountain City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
53.02% 2.53% 9 6
* 10 is highest

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Zip Codes in Mountain City, TN