Waverly, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Waverly, 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

Waverly Housing Market Information

With a population of 4,090, 1,560 total housing units (homes and apartments), and a median house value of $133,228, house prices in Waverly are solidly below the national average.

Single-family detached homes are the single most common housing type in Waverly, accounting for 80.92% of the city's housing units. Other types of housing that are prevalent in Waverly include large apartment complexes or high rise apartments ( 7.54%), duplexes, homes converted to apartments or other small apartment buildings ( 6.93%), and a few mobile homes or trailers ( 3.77%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Waverly. Owner-occupied housing accounts for 73.36% of Waverly's homes, and 71.49% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Waverly's housing was primarily built during this period, from the '40s through the '60s. A full 46.92% of the city's housing hails from this era. Other housing ages represented in Waverly include homes built between 1970-1999 ( 38.44%) and housing constructed between 2000 and later ( 12.76%). There's also some housing in Waverly built before 1939 ( 1.89%).

Vacant housing appears to be an issue in Waverly. Fully 13.48% of the housing stock is classified as vacant. Left unchecked, vacant Waverly homes and apartments can be a drag on the real estate market, holding Waverly 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.

Waverly Home Appreciation Rates

Appreciation rates for homes in Waverly have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.75%, which ranks in the top 50% nationwide. This equates to an annual average Waverly house appreciation rate of 0.07%.

Appreciation rates are so strong in Waverly that despite a nationwide downturn in the housing market, Waverly real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Waverly appreciation rates continue to be some of the highest in America, at 5.96%, which is higher than appreciation rates in 73.67% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Waverly. Waverly 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 Waverly's latest annual appreciation rate is higher than 70% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$133,228

Waverly, TN HOME PRICES

Value Range
> $1,109,000 0.5
$832,001 - $1,109,000 0.0
$555,001 - $832,000 0.9
$444,001 - $555,000 0.7
$333,001 - $444,000 1.3
$222,001 - $333,000 9.9
$111,001 - $222,000 39.5
$55,001 - $111,000 37.4
$0 - $55,000 9.9

Average for TN
Average for Nation

Value Relative to Nation Value Relative to State
58.1565686159616 40.3061224489796

Number Of Homes And Apartments:
1,560

Waverly 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
24.88% 1.30% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$860 / per month

Homeownership Rate

Homeownership
Owners 73.36
Renters 26.64
Vacant 13.48

Housing Market Details

 

Age of Homes

AGE OF Waverly HOMES
2000 or Newer 12.8
1970 - 1999 38.4
1940 - 1969 46.9
1939 or Older 1.9

Types of Homes

TYPE OF Waverly HOMES
Single-Family 80.9
Townhomes 0.8
Small Apt. Buildings 6.9
Apt. Complexes 7.5
Mobile Homes 3.8
Other 0.0

Home Size

SIZE OF Waverly HOMES
No Bedroom 0.00
1 Bedroom 4.71
2 Bedrooms 21.30
3 Bedrooms 52.80
4 Bedrooms 18.69
5 or more bedrooms 2.50

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Zip Codes in Waverly, TN