Oak Hill, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Oak Hill, 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

Oak Hill Housing Market Information

With 4,700 people, 1,753 houses or apartments, and a median cost of homes of $797,949, Oak Hill house prices are not only among the most expensive in Tennessee, Oak Hill real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Oak Hill, accounting for 96.78% of the city's housing units. Other types of housing that are prevalent in Oak Hill include duplexes, homes converted to apartments or other small apartment buildings ( 1.26%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Oak Hill. Owner-occupied housing accounts for 88.71% of Oak Hill's homes, and 79.97% have either three or four bedrooms, which is average sized relative to America.

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. Oak Hill's housing was primarily built during this period, from the '40s through the '60s. A full 72.00% of the city's housing hails from this era. Other housing ages represented in Oak Hill include homes built between 1970-1999 ( 15.34%) and housing constructed before 1939 ( 6.93%). There's also some housing in Oak Hill built between 2000 and later ( 5.73%).

Oak Hill Home Appreciation Rates

In the last 10 years, Oak Hill has experienced some of the highest home appreciation rates of any community in the nation. Oak Hill real estate appreciated 46.91% over the last ten years, which is an average annual home appreciation rate of 3.92%, putting Oak Hill in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Oak Hill 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 Oak Hill that despite a nationwide downturn in the housing market, Oak Hill real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Oak Hill appreciation rates continue to be some of the highest in America, at 10.00%, which is higher than appreciation rates in 93.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Oak Hill. Oak Hill appreciation rates in the latest quarter were at 2.76%, which equates to an annual appreciation rate of 11.51%.

Importantly, this makes Oak Hill one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Tennessee, our data show that Oak Hill's latest annual appreciation rate is higher than 90% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$797,949

Oak Hill, TN HOME PRICES

Value Range
> $1,326,000 13.6
$994,001 - $1,326,000 14.8
$663,001 - $994,000 23.8
$530,001 - $663,000 13.5
$398,001 - $530,000 21.7
$265,001 - $398,000 7.0
$133,001 - $265,000 3.0
$66,001 - $133,000 1.0
$0 - $66,000 1.7

Very High for TN
Very High for Nation

Value Relative to Nation Value Relative to State
1.94538849173796 0.510204081632653

Number Of Homes And Apartments:
1,753

Oak Hill 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
117.79% 4.62% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,828 / per month

Homeownership Rate

Homeownership
Owners 88.71
Renters 11.29
Vacant 4.31

Housing Market Details

 

Age of Homes

AGE OF Oak Hill HOMES
2000 or Newer 5.7
1970 - 1999 15.3
1940 - 1969 72.0
1939 or Older 6.9

Types of Homes

TYPE OF Oak Hill HOMES
Single-Family 96.8
Townhomes 0.9
Small Apt. Buildings 1.3
Apt. Complexes 0.3
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Oak Hill HOMES
No Bedroom 0.00
1 Bedroom 0.93
2 Bedrooms 6.88
3 Bedrooms 46.23
4 Bedrooms 33.73
5 or more bedrooms 12.23

Popular Neighborhoods in Oak Hill

Zip Codes in Oak Hill, TN