Red Boiling Springs, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Red Boiling Springs Neighborhoods Since 2000




Red Boiling 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

Red Boiling Springs Housing Market Information

With a population of 1,140, 483 total housing units (homes and apartments), and a median house value of $116,923, house prices in Red Boiling Springs are solidly below the national average.

Single-family detached homes are the single most common housing type in Red Boiling Springs, accounting for 66.79% of the city's housing units. Other types of housing that are prevalent in Red Boiling Springs include large apartment complexes or high rise apartments ( 13.32%), duplexes, homes converted to apartments or other small apartment buildings ( 11.72%), and a few mobile homes or trailers ( 5.51%).

The most prevalent building size and type in Red Boiling Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 38.76% owning and 61.24% renting.

There is a lot of housing in Red Boiling Springs 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 Red Boiling Springs built between 1940-1969 ( 28.95%). A lesser amount of the housing stock also hails from before 1939 ( 8.88%). There's also some housing in Red Boiling Springs built between 2000 and later ( 6.39%).

Vacant housing appears to be an issue in Red Boiling Springs. Fully 14.21% of the housing stock is classified as vacant. Left unchecked, vacant Red Boiling Springs homes and apartments can be a drag on the real estate market, holding Red Boiling 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.

Red Boiling Springs Home Appreciation Rates

In the last 10 years, Red Boiling Springs has experienced some of the highest home appreciation rates of any community in the nation. Red Boiling Springs real estate appreciated 30.99% over the last ten years, which is an average annual home appreciation rate of 2.74%, putting Red Boiling Springs in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Red Boiling Springs 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 Red Boiling Springs that despite a nationwide downturn in the housing market, Red Boiling Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Red Boiling Springs appreciation rates continue to be some of the highest in America, at 9.81%, which is higher than appreciation rates in 93.33% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Red Boiling Springs. Red Boiling Springs appreciation rates in the latest quarter were at 2.76%, which equates to an annual appreciation rate of 11.51%.

Importantly, this makes Red Boiling Springs 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 Red Boiling Springs's latest annual appreciation rate is higher than 90% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$116,923

Red Boiling Springs, TN HOME PRICES

Value Range
> $1,286,000 0.0
$964,001 - $1,286,000 0.0
$643,001 - $964,000 0.0
$514,001 - $643,000 0.8
$386,001 - $514,000 3.9
$257,001 - $386,000 6.3
$129,001 - $257,000 36.0
$64,001 - $129,000 28.9
$0 - $64,000 24.1

Average for TN
Low for Nation

Value Relative to Nation Value Relative to State
67.1979374194304 54.8469387755102

Number Of Homes And Apartments:
483

Red Boiling 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
98.60% 4.06% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$720 / per month

Homeownership Rate

Homeownership
Owners 38.76
Renters 61.24
Vacant 14.21

Housing Market Details

 

Age of Homes

AGE OF Red Boiling Springs HOMES
2000 or Newer 6.4
1970 - 1999 55.8
1940 - 1969 29.0
1939 or Older 8.9

Types of Homes

TYPE OF Red Boiling Springs HOMES
Single-Family 66.8
Townhomes 2.7
Small Apt. Buildings 11.7
Apt. Complexes 13.3
Mobile Homes 5.5
Other 0.0

Home Size

SIZE OF Red Boiling Springs HOMES
No Bedroom 4.97
1 Bedroom 14.74
2 Bedrooms 29.84
3 Bedrooms 42.81
4 Bedrooms 6.93
5 or more bedrooms 0.71

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Zip Codes in Red Boiling Springs, TN