Smithville, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Smithville, 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

Smithville Housing Market Information

With 4,640 people, 1,741 houses or apartments, and a median cost of homes of $133,204, house prices in Smithville are solidly below the national average.

Single-family detached homes are the single most common housing type in Smithville, accounting for 74.57% of the city's housing units. Other types of housing that are prevalent in Smithville include duplexes, homes converted to apartments or other small apartment buildings ( 14.62%), large apartment complexes or high rise apartments ( 4.69%), and a few mobile homes or trailers ( 3.65%).

The most prevalent building size and type in Smithville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 44.06% owning and 55.94% renting.

There is a lot of housing in Smithville 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 Smithville built between 1940-1969 ( 36.79%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.96%). There's also some housing in Smithville built before 1939 ( 10.57%).

Vacant housing appears to be an issue in Smithville. Fully 14.02% of the housing stock is classified as vacant. Left unchecked, vacant Smithville homes and apartments can be a drag on the real estate market, holding Smithville 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.

Smithville Home Appreciation Rates

Appreciation rates for homes in Smithville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.88%, which ranks in the top 40% nationwide. This equates to an annual average Smithville house appreciation rate of 0.67%.

Appreciation rates are so strong in Smithville that despite a nationwide downturn in the housing market, Smithville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Smithville appreciation rates continue to be some of the highest in America, at 5.58%, which is higher than appreciation rates in 70.15% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Smithville. Smithville appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Tennessee, our data show that Smithville's latest annual appreciation rate is higher than 70% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$133,204

Smithville, TN HOME PRICES

Value Range
> $1,072,000 1.3
$804,001 - $1,072,000 0.0
$536,001 - $804,000 0.9
$429,001 - $536,000 2.7
$322,001 - $429,000 3.3
$214,001 - $322,000 11.4
$107,001 - $214,000 40.3
$54,001 - $107,000 31.3
$0 - $54,000 8.9

Average for TN
Average for Nation

Value Relative to Nation Value Relative to State
58.1741474276339 40.5612244897959

Number Of Homes And Apartments:
1,741

Smithville 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
45.76% 2.21% 8 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$705 / per month

Homeownership Rate

Homeownership
Owners 44.06
Renters 55.94
Vacant 14.02

Housing Market Details

 

Age of Homes

AGE OF Smithville HOMES
2000 or Newer 11.0
1970 - 1999 41.7
1940 - 1969 36.8
1939 or Older 10.6

Types of Homes

TYPE OF Smithville HOMES
Single-Family 74.6
Townhomes 2.5
Small Apt. Buildings 14.6
Apt. Complexes 4.7
Mobile Homes 3.7
Other 0.0

Home Size

SIZE OF Smithville HOMES
No Bedroom 0.69
1 Bedroom 9.43
2 Bedrooms 32.99
3 Bedrooms 44.89
4 Bedrooms 9.43
5 or more bedrooms 2.57

Popular Neighborhoods in Smithville

Zip Codes in Smithville, TN