Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Anderson County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $148,541 | $235,307 | $242,182 |
| Price Trend (Annual %) | 11.2% | 10.0% | 8.2% |
| Median Gross Rent | $959 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 4.6% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Anderson County is about 37% lower than in Tennessee. Rent is about 14% lower than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Anderson County, up about 11.2% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Anderson County rose about 40.1% between 2015 and 2023, from $685 to $959. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Anderson County.
Buying the median-priced home in Anderson County costs roughly 12.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Anderson County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Anderson County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $148,541 | $235,307 | $242,182 |
| Median Household Income | $63,107 | $67,486 | $78,145 |
| Price-to-Income Ratio | 2.4 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Anderson County rose about 90.4%, while median household income rose about 48.3% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Anderson County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.1% | 60.0% | 58.2% |
| Rental Rate | 26.1% | 29.5% | 31.3% |
| Vacancy Rate | 9.8% | 10.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Anderson County has a homeownership rate of 64.1%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 9.8%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Anderson County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1984 | 1985 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Anderson County was built around 1984. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Anderson County, Tennessee.
What is the median home price in Anderson County, Tennessee?
The median home price in Anderson County, Tennessee is $148,541, lower than the Tennessee average of $235,307.
What is the average home price in Anderson County, Tennessee?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Anderson County, Tennessee?
The median gross rent in Anderson County, Tennessee is $959 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Anderson County in 2020?
In 2020, the median gross rent in Anderson County, Tennessee was $787 per month.
What is the price-to-rent ratio in Anderson County, Tennessee?
The price-to-rent ratio in Anderson County, Tennessee is about 12.9, meaning it would take roughly 12.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Anderson County.
Are home prices or rent rising faster in Anderson County, Tennessee?
Both home prices and rent are rising in Anderson County, up about 11.2% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Anderson County, Tennessee?
64.1% of households in Anderson County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Anderson County, Tennessee?
The housing vacancy rate in Anderson County, Tennessee is 9.8%, lower than the Tennessee average of 10.6%.