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 | Bledsoe County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $97,272 | $235,307 | $242,182 |
| Price Trend (Annual %) | 6.1% | 10.0% | 8.2% |
| Median Gross Rent | $778 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bledsoe County is about 59% lower than in Tennessee. Rent is about 31% 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 Bledsoe County, up about 6.1% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Bledsoe County rose about 44.2% between 2015 and 2023, from $540 to $778. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Bledsoe County.
Buying the median-priced home in Bledsoe County costs roughly 10.4 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 Bledsoe County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Bledsoe County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $97,272 | $235,307 | $242,182 |
| Median Household Income | $49,705 | $67,486 | $78,145 |
| Price-to-Income Ratio | 2.0 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bledsoe County fell about 38.1%, while median household income rose about 52.5% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bledsoe County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.6% | 60.0% | 58.2% |
| Rental Rate | 17.0% | 29.5% | 31.3% |
| Vacancy Rate | 18.4% | 10.6% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Bledsoe County has a homeownership rate of 64.6%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 18.4%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Bledsoe County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.85 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1990 | 1985 | 1978 |
| Median Number of Rooms | 5.6 | 5.7 | 5.5 |
The typical housing unit in Bledsoe County was built around 1990. On average, 2.9 people live in a home with about 5.6 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bledsoe County, Tennessee.
What is the median home price in Bledsoe County, Tennessee?
The median home price in Bledsoe County, Tennessee is $97,272, lower than the Tennessee average of $235,307.
What is the average home price in Bledsoe 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 Bledsoe County, Tennessee?
The median gross rent in Bledsoe County, Tennessee is $778 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Bledsoe County in 2020?
In 2020, the median gross rent in Bledsoe County, Tennessee was $675 per month.
What is the price-to-rent ratio in Bledsoe County, Tennessee?
The price-to-rent ratio in Bledsoe County, Tennessee is about 10.4, meaning it would take roughly 10.4 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 Bledsoe County.
Are home prices or rent rising faster in Bledsoe County, Tennessee?
Both home prices and rent are rising in Bledsoe County, up about 6.1% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bledsoe County, Tennessee?
64.6% of households in Bledsoe County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Bledsoe County, Tennessee?
The housing vacancy rate in Bledsoe County, Tennessee is 18.4%, higher than the Tennessee average of 10.6%.