Oliver Springs, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Oliver Springs, 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

Oliver Springs Housing Market Information

With 3,237 people, 1,349 houses or apartments, and a median cost of homes of $95,980, house prices in Oliver Springs are solidly below the national average.

Single-family detached homes are the single most common housing type in Oliver Springs, accounting for 84.19% of the town's housing units. Other types of housing that are prevalent in Oliver Springs include duplexes, homes converted to apartments or other small apartment buildings ( 9.52%), mobile homes or trailers ( 4.30%), and a few large apartment complexes or high rise apartments ( 1.98%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Oliver Springs. Owner-occupied housing accounts for 70.79% of Oliver Springs's homes, and 69.11% 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. Oliver Springs's housing was primarily built during this period, from the '40s through the '60s. A full 51.52% of the town's housing hails from this era. Other housing ages represented in Oliver Springs include homes built between 1970-1999 ( 44.51%) and housing constructed between 2000 and later ( 2.18%). There's also some housing in Oliver Springs built before 1939 ( 1.79%).

Vacant housing appears to be an issue in Oliver Springs. Fully 10.78% of the housing stock is classified as vacant. Left unchecked, vacant Oliver Springs homes and apartments can be a drag on the real estate market, holding Oliver Springs 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.

Oliver Springs Home Appreciation Rates

Oliver Springs's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Oliver Springs during the period has been just -0.94%, which is lower than 70% of US communities.

Over the last year, Oliver Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Oliver Springs's appreciation rate has been -1.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Oliver Springs were at 0.56%, which equates to an annual appreciation rate of 2.26%.

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

Average Home Values

 

Median Home Value:
$95,980

Oliver Springs, TN HOME PRICES

Value Range
> $977,000 0.8
$733,001 - $977,000 0.0
$489,001 - $733,000 3.2
$391,001 - $489,000 0.7
$293,001 - $391,000 4.0
$195,001 - $293,000 10.5
$98,001 - $195,000 32.1
$49,001 - $98,000 30.4
$0 - $49,000 18.2

Low for TN
Very Low for Nation

Value Relative to Nation Value Relative to State
80.2238368686277 79.0816326530612

Number Of Homes And Apartments:
1,349

Oliver Springs 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
16.24% 0.88% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$820 / per month

Homeownership Rate

Homeownership
Owners 70.79
Renters 29.21
Vacant 10.78

Housing Market Details

 

Age of Homes

AGE OF Oliver Springs HOMES
2000 or Newer 2.2
1970 - 1999 44.5
1940 - 1969 51.5
1939 or Older 1.8

Types of Homes

TYPE OF Oliver Springs HOMES
Single-Family 84.2
Townhomes 0.0
Small Apt. Buildings 9.5
Apt. Complexes 2.0
Mobile Homes 4.3
Other 0.0

Home Size

SIZE OF Oliver Springs HOMES
No Bedroom 4.83
1 Bedroom 2.18
2 Bedrooms 21.89
3 Bedrooms 54.03
4 Bedrooms 15.08
5 or more bedrooms 1.98

Popular Neighborhoods in Oliver Springs

Zip Codes in Oliver Springs, TN