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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 678,851, 282,855 total housing units (homes and apartments), and a median house value of $423,493, Nashville real estate is some of the most expensive in Tennessee, although Nashville home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Nashville, accounting for 51.30% of the city's housing units. Other types of housing that are prevalent in Nashville include large apartment complexes or high rise apartments ( 31.68%), row houses and other attached homes ( 8.41%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.17%).
People in Nashville primarily live in small (one, two or no bedroom) single-family detached homes. Nashville has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Nashville 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 Nashville built between 2000 and later ( 27.98%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.33%). There's also some housing in Nashville built before 1939 ( 6.36%).
In the last 10 years, Nashville has experienced some of the highest home appreciation rates of any community in the nation. Nashville real estate appreciated 181.70% over the last ten years, which is an average annual home appreciation rate of 10.91%, putting Nashville in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Nashville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Nashville that despite a nationwide downturn in the housing market, Nashville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Nashville appreciation rates continue to be some of the highest in America, at 19.63%, which is higher than appreciation rates in 96.70% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Nashville. Nashville appreciation rates in the latest quarter were at 0.69%, which equates to an annual appreciation rate of 2.80%.
Relative to Tennessee, our data show that Nashville's latest annual appreciation rate is lower than 60% 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 Nashville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Nashville - 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 Nashville real estate investment or home purchase decisions.
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