Smyrna, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Smyrna Neighborhoods Since 2000




Smyrna, 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

Smyrna Housing Market Information

With 46,607 people, 15,818 houses or apartments, and a median cost of homes of $181,607, Smyrna real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Smyrna, accounting for 62.32% of the town's housing units. Other types of housing that are prevalent in Smyrna include large apartment complexes or high rise apartments ( 18.39%), row houses and other attached homes ( 8.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.80%).

The most prevalent building size and type in Smyrna are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.42% owning and 36.58% renting.

There is a lot of housing in Smyrna 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 Smyrna built between 2000 and later ( 34.55%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.41%).

Smyrna Home Appreciation Rates

In the last 10 years, Smyrna has experienced some of the highest home appreciation rates of any community in the nation. Smyrna real estate appreciated 14.93% over the last ten years, which is an average annual home appreciation rate of 1.40%, putting Smyrna in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Smyrna 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 Smyrna that despite a nationwide downturn in the housing market, Smyrna real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Smyrna appreciation rates continue to be some of the highest in America, at 10.17%, which is higher than appreciation rates in 94.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Smyrna. Smyrna appreciation rates in the latest quarter were at 2.76%, which equates to an annual appreciation rate of 11.51%.

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

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

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Smyrna differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Smyrna - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Smyrna real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$181,607

Smyrna, TN HOME PRICES

Value Range
> $1,262,000 0.0
$947,001 - $1,262,000 0.0
$631,001 - $947,000 0.4
$505,001 - $631,000 1.1
$379,001 - $505,000 2.1
$252,001 - $379,000 12.9
$126,001 - $252,000 69.7
$63,001 - $126,000 7.8
$0 - $63,000 5.9

Very High for TN
High for Nation

Value Relative to Nation Value Relative to State
37.6069377710067 17.0918367346939

Number Of Homes And Apartments:
15,818

Smyrna 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
45.87% 2.21% 8 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,232 / per month

Homeownership Rate

Homeownership
Owners 63.42
Renters 36.58
Vacant 5.45

Housing Market Details

 

Age of Homes

AGE OF Smyrna HOMES
2000 or Newer 34.6
1970 - 1999 54.2
1940 - 1969 10.4
1939 or Older 0.8

Types of Homes

TYPE OF Smyrna HOMES
Single-Family 62.3
Townhomes 8.1
Small Apt. Buildings 6.8
Apt. Complexes 18.4
Mobile Homes 4.3
Other 0.1

Home Size

SIZE OF Smyrna HOMES
No Bedroom 2.15
1 Bedroom 6.40
2 Bedrooms 22.47
3 Bedrooms 55.59
4 Bedrooms 11.54
5 or more bedrooms 1.85