Sweetwater, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Sweetwater, 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

Sweetwater Housing Market Information

With a population of 5,931, 2,351 total housing units (homes and apartments), and a median house value of $144,203, Sweetwater real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Sweetwater, accounting for 76.44% of the city's housing units. Other types of housing that are prevalent in Sweetwater include large apartment complexes or high rise apartments ( 8.61%), mobile homes or trailers ( 8.46%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.68%).

The most prevalent building size and type in Sweetwater are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.22% owning and 40.78% renting.

There is a lot of housing in Sweetwater 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 Sweetwater built between 1940-1969 ( 28.98%). A lesser amount of the housing stock also hails from before 1939 ( 16.10%). There's also some housing in Sweetwater built between 2000 and later ( 12.39%).

Vacant housing appears to be an issue in Sweetwater. Fully 12.76% of the housing stock is classified as vacant. Left unchecked, vacant Sweetwater homes and apartments can be a drag on the real estate market, holding Sweetwater 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.

Sweetwater Home Appreciation Rates

Appreciation rates for homes in Sweetwater have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.18%, which ranks in the top 40% nationwide. This equates to an annual average Sweetwater house appreciation rate of 0.60%.

NeighborhoodScout's data show that during the latest twelve months, Sweetwater's appreciation rate, at 4.58%, has been at or slightly above the national average. In the latest quarter, Sweetwater's appreciation rate has been 0.56%, which annualizes to a rate of 2.26%.

Relative to Tennessee, our data show that Sweetwater's latest annual appreciation rate is higher than 60% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$144,203

Sweetwater, TN HOME PRICES

Value Range
> $1,125,000 0.7
$844,001 - $1,125,000 1.0
$562,001 - $844,000 1.3
$450,001 - $562,000 1.7
$338,001 - $450,000 5.2
$225,001 - $338,000 9.3
$112,001 - $225,000 36.7
$57,001 - $112,000 27.0
$0 - $57,000 17.1

High for TN
Average for Nation

Value Relative to Nation Value Relative to State
52.6602601664128 33.1632653061224

Number Of Homes And Apartments:
2,351

Sweetwater 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
45.86% 2.21% 8 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$767 / per month

Homeownership Rate

Homeownership
Owners 59.22
Renters 40.78
Vacant 12.76

Housing Market Details

 

Age of Homes

AGE OF Sweetwater HOMES
2000 or Newer 12.4
1970 - 1999 42.5
1940 - 1969 29.0
1939 or Older 16.1

Types of Homes

TYPE OF Sweetwater HOMES
Single-Family 76.4
Townhomes 0.8
Small Apt. Buildings 5.7
Apt. Complexes 8.6
Mobile Homes 8.5
Other 0.0

Home Size

SIZE OF Sweetwater HOMES
No Bedroom 2.60
1 Bedroom 6.46
2 Bedrooms 32.21
3 Bedrooms 41.78
4 Bedrooms 13.80
5 or more bedrooms 3.15

Popular Neighborhoods in Sweetwater

Zip Codes in Sweetwater, TN