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.
Housing Market Overview
| Metric | Clarksville | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $207,940 | $235,307 | $242,182 |
| Price Trend (Annual %) | 9.4% | 10.0% | 8.2% |
| Median Gross Rent | $1,207 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 4.6% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Clarksville is about 12% lower than in Tennessee. Rent is about 8% higher 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 Clarksville, up about 9.4% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Clarksville rose about 39.6% between 2015 and 2023, from $865 to $1,207. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Clarksville.
Buying the median-priced home in Clarksville costs roughly 14.4 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 Clarksville. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Clarksville | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $207,940 | $235,307 | $242,182 |
| Median Household Income | $68,425 | $67,486 | $78,145 |
| Price-to-Income Ratio | 3.0 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Clarksville rose about 80.4%, while median household income rose about 48.6% 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 | Clarksville | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.0% | 60.0% | 58.2% |
| Rental Rate | 40.1% | 29.5% | 31.3% |
| Vacancy Rate | 6.9% | 10.6% | 10.6% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
Clarksville has a homeownership rate of 53.0%, lower than the Tennessee average of 60.0%. Its housing vacancy rate is 6.9%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Clarksville | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.59 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1995 | 1985 | 1978 |
| Median Number of Rooms | 5.6 | 5.7 | 5.5 |
The typical housing unit in Clarksville was built around 1995. On average, 2.6 people live in a home with about 5.6 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Clarksville, Tennessee.
What is the median home price in Clarksville, Tennessee?
The median home price in Clarksville, Tennessee is $207,940, lower than the Tennessee average of $235,307.
What is the average home price in Clarksville, 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 Clarksville, Tennessee?
The median gross rent in Clarksville, Tennessee is $1,207 per month, higher than the Tennessee average of $1,121.
What was the median gross rent in Clarksville in 2020?
In 2020, the median gross rent in Clarksville, Tennessee was $954 per month.
What is the price-to-rent ratio in Clarksville, Tennessee?
The price-to-rent ratio in Clarksville, Tennessee is about 14.4, meaning it would take roughly 14.4 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 Clarksville.
Are home prices or rent rising faster in Clarksville, Tennessee?
Both home prices and rent are rising in Clarksville, up about 9.4% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Clarksville, Tennessee?
53.0% of households in Clarksville, Tennessee own their home, lower than the Tennessee average of 60.0%.
What is the vacancy rate in Clarksville, Tennessee?
The housing vacancy rate in Clarksville, Tennessee is 6.9%, lower than the Tennessee average of 10.6%.