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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Westmoreland, TN Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Westmoreland, TN Housing Market Trends

With 2,757 people, 929 houses or apartments, and a median cost of homes of $272,378, Westmoreland 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 Westmoreland, accounting for 65.81% of the town's housing units. Other types of housing that are prevalent in Westmoreland include mobile homes or trailers ( 16.70%), duplexes, homes converted to apartments or other small apartment buildings ( 8.25%), and a few large apartment complexes or high rise apartments ( 6.66%).

The most prevalent building size and type in Westmoreland are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 54.47% owning and 45.53% renting.

There is a lot of housing in Westmoreland 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 Westmoreland built between 2000 and later ( 31.11%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.90%). There's also some housing in Westmoreland built before 1939 ( 9.64%).

Westmoreland Home Appreciation Rates

In the last 10 years, Westmoreland has experienced some of the highest home appreciation rates of any community in the nation. Westmoreland real estate appreciated 118.31% over the last ten years, which is an average annual home appreciation rate of 8.12%, putting Westmoreland in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Westmoreland definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Westmoreland appreciation rates have trailed the rest of the nation. In the last twelve months, Westmoreland's appreciation rate has been 0.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Westmoreland were at -1.32%, which equates to an annual appreciation rate of -5.18%.

Notably, Westmoreland's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

Median Home Value

$272,378

Westmoreland, TN Home Prices
> $1,290,000
$968,001 - $1,290,000
$645,001 - $968,000
$516,001 - $645,000
$387,001 - $516,000
$258,001 - $387,000
$129,001 - $258,000
$65,001 - $129,000
$0 - $65,000
0.8%
0.8%
2.8%
2.8%
3.2%
3.2%
6.2%
6.2%
10.8%
10.8%
30.4%
30.4%
32.8%
32.8%
8.8%
8.8%
4.3%
4.3%
0% 100.0%
% of Homes
High

for Tennessee

Average

for nation

Number of Homes And Apartments:

929

Westmoreland Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,614 / per month

Homeownership Rate

Owners
Renters
54.5%
54.5%
45.5%
45.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.7%
7.7%
92.3%
92.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
31.1%
31.1%
42.3%
42.3%
16.9%
16.9%
9.6%
9.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
65.8%
65.8%
2.6%
2.6%
8.3%
8.3%
6.7%
6.7%
16.7%
16.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.3%
1.3%
6.9%
6.9%
26.3%
26.3%
58.3%
58.3%
6.7%
6.7%
0.6%
0.6%
0% 100.0%
% of Homes

Popular Neighborhoods in Westmoreland

Zip Codes in Westmoreland, TN