Tazewell, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Tazewell, 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

Tazewell Housing Market Information

With a population of 2,288, 884 total housing units (homes and apartments), and a median house value of $124,846, house prices in Tazewell are solidly below the national average.

Single-family detached homes are the single most common housing type in Tazewell, accounting for 66.12% of the town's housing units. Other types of housing that are prevalent in Tazewell include duplexes, homes converted to apartments or other small apartment buildings ( 14.68%), large apartment complexes or high rise apartments ( 10.34%), and a few mobile homes or trailers ( 8.43%).

The most prevalent building size and type in Tazewell are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 57.77% owning and 42.23% renting.

There is a lot of housing in Tazewell 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 Tazewell built between 1940-1969 ( 30.41%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.86%). There's also some housing in Tazewell built before 1939 ( 4.60%).

Vacant housing appears to be an issue in Tazewell. Fully 23.20% of the housing stock is classified as vacant. Left unchecked, vacant Tazewell homes and apartments can be a drag on the real estate market, holding Tazewell 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.

Tazewell Home Appreciation Rates

In the last 10 years, Tazewell has experienced some of the highest home appreciation rates of any community in the nation. Tazewell real estate appreciated 16.80% over the last ten years, which is an average annual home appreciation rate of 1.56%, putting Tazewell in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Tazewell definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Tazewell's appreciation rate, at 3.88%, has been at or slightly above the national average. In the latest quarter, Tazewell's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$124,846

Tazewell, TN HOME PRICES

Value Range
> $1,098,000 0.0
$824,001 - $1,098,000 0.1
$549,001 - $824,000 1.1
$440,001 - $549,000 0.6
$329,001 - $440,000 1.7
$220,001 - $329,000 4.3
$110,001 - $220,000 46.2
$55,001 - $110,000 31.8
$0 - $55,000 14.2

Average for TN
Low for Nation

Value Relative to Nation Value Relative to State
62.6450251962967 48.2142857142857

Number Of Homes And Apartments:
884

Tazewell 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
50.23% 2.39% 9 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$611 / per month

Homeownership Rate

Homeownership
Owners 57.77
Renters 42.23
Vacant 23.20

Housing Market Details

 

Age of Homes

AGE OF Tazewell HOMES
2000 or Newer 10.9
1970 - 1999 54.1
1940 - 1969 30.4
1939 or Older 4.6

Types of Homes

TYPE OF Tazewell HOMES
Single-Family 66.1
Townhomes 0.4
Small Apt. Buildings 14.7
Apt. Complexes 10.3
Mobile Homes 8.4
Other 0.0

Home Size

SIZE OF Tazewell HOMES
No Bedroom 0.78
1 Bedroom 12.68
2 Bedrooms 28.58
3 Bedrooms 45.09
4 Bedrooms 10.51
5 or more bedrooms 2.35

Popular Neighborhoods in Tazewell

Zip Codes in Tazewell, TN