Carter County, Tennessee Housing Market Prices
Carter County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 43% below the Tennessee median$144,997
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Median rent 38% below the Tennessee median Cheaper than 82% of counties in Tennessee$739
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Carter County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $144,997 | $255,786 | $248,835 |
| Price Trend (Annual %) | 3.1% | 9.9% | 7.5% |
| Median Gross Rent | $739 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 2.9% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Carter County is about 43% lower than in Tennessee. Rent is about 38% lower than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Carter County, up about 3.1% and 2.9% a year respectively. Home prices are changing faster.
Median rent in Carter County rose about 30.7% between 2015 and 2024, from $565 to $739. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Carter County.
Buying the median-priced home in Carter County costs roughly 16.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Carter County. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Carter County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $144,997 | $255,786 | $248,835 |
| Median Household Income | $50,141 | $69,901 | $80,455 |
| Price-to-Income Ratio | 2.9 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Carter County rose about 63.1%, while median household income rose about 40.4% between 2009 and 2025 — 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 | Carter County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.3% | 60.1% | 58.5% |
| Rental Rate | 21.6% | 29.7% | 31.2% |
| Vacancy Rate | 13.1% | 10.2% | 10.2% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Carter County has a homeownership rate of 65.3%, higher than the Tennessee average of 60.1%. Its housing vacancy rate is 13.1%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Carter County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1977 | 1986 | 1978 |
| Median Number of Rooms | 5.6 | 5.7 | 5.5 |
The typical housing unit in Carter County was built around 1977. On average, 2.3 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Carter County, TN Housing Compared With Nearby Counties
Carter County, TN is the 2nd largest of the 4 counties compared here, 56,703 residents against a local median of 17,672. Where Carter County, TN breaks from the counties next to it is median home price, sitting 33% below the local median of $215,151 at $144,997.
The counties themselves spread $92,924 on median home price, so Carter County, TN sits at one end of an already wide local range rather than apart from it. Carter County, TN has the 4th highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Carter County, TN | 56,703 | $144,997 #4/4 | $739 #4/4 | 75.2% #3/4 |
| Mitchell County, NC | 14,959 | $278,731 | $813 | 76.3% |
| Sullivan County, TN | 160,624 | $215,151 | $888 | 72.1% |
| Avery County, NC | 17,672 | $185,807 | $772 | 83.0% |
Frequently Asked Questions
Common questions about the housing market in Carter County, Tennessee.
What is the median home price in Carter County, Tennessee?
The median home price in Carter County, Tennessee is $144,997, lower than the Tennessee average of $255,786.
What is the average home price in Carter County, Tennessee?
The typical home price in Carter County, Tennessee, reported as the median sale price, is $144,997. 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 Carter County, Tennessee?
The median gross rent in Carter County, Tennessee is $739 per month, lower than the Tennessee average of $1,188.
What was the median gross rent in Carter County in 2020?
In 2020, the median gross rent in Carter County, Tennessee was $643 per month.
What is the price-to-rent ratio in Carter County, Tennessee?
The price-to-rent ratio in Carter County, Tennessee is about 16.4, meaning it would take roughly 16.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Carter County.
Are home prices or rent rising faster in Carter County, Tennessee?
Both home prices and rent are rising in Carter County, up about 3.1% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Carter County, Tennessee?
65.3% of households in Carter County, Tennessee own their home, higher than the Tennessee average of 60.1%.
What is the vacancy rate in Carter County, Tennessee?
The housing vacancy rate in Carter County, Tennessee is 13.1%, higher than the Tennessee average of 10.2%.
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