Smithville, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Smithville, TN Real Estate Data


Smithville Housing Market Information

With a population of 4,640, 1,767 total housing units (homes and apartments), and a median house value of $126,657, 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 73.62% 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 ( 12.04%), mobile homes or trailers ( 5.92%), and a few large apartment complexes or high rise apartments ( 5.92%).

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 45.17% owning and 54.83% 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 ( 32.55%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.10%). There's also some housing in Smithville built before 1939 ( 8.22%).

Vacant housing appears to be an issue in Smithville. Fully 13.51% 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 10.80%, which ranks in the top 40% nationwide. This equates to an annual average Smithville house appreciation rate of 1.03%.

NeighborhoodScout's data show that during the latest twelve months, Smithville's appreciation rate, at 4.71%, has been at or slightly above the national average. In the latest quarter, Smithville's appreciation rate has been 1.80%, which annualizes to a rate of 7.39%.

Relative to Tennessee, our data show that Smithville's latest annual appreciation rate is lower than 50% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$126,657

Smithville, TN HOME PRICES

Value Range
> $1,084,000 1.3
$813,001 - $1,084,000 0.0
$542,001 - $813,000 1.0
$434,001 - $542,000 3.7
$325,001 - $434,000 4.5
$217,001 - $325,000 12.0
$108,001 - $217,000 34.5
$54,001 - $108,000 33.9
$0 - $54,000 9.1

Average for TN
Low for Nation

Value Relative to Nation Value Relative to State
62.7217895414886 46.9387755102041

Number Of Homes And Apartments:
1,767

Rent & Ownership

 

Average Market Rent:
$678 / per month

Homeownership Rate

Homeownership
Owners 45.17
Renters 54.83
Vacant 13.51

Housing Market Details

 

Age of Homes

AGE OF Smithville HOMES
2000 or Newer 14.1
1970 - 1999 45.1
1940 - 1969 32.6
1939 or Older 8.2

Types of Homes

TYPE OF Smithville HOMES
Single-Family 73.6
Townhomes 2.5
Small Apt. Buildings 12.0
Apt. Complexes 5.9
Mobile Homes 5.9
Other 0.0

Home Size

SIZE OF Smithville HOMES
No Bedroom 0.64
1 Bedroom 11.21
2 Bedrooms 32.70
3 Bedrooms 47.09
4 Bedrooms 5.73
5 or more bedrooms 2.64

Smithville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
42.71% 2.11% 7 5
* 10 is highest

Popular Neighborhoods in Smithville

Zip Codes in Smithville, TN