Clay County, Tennessee Housing Market Prices
Clay 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 98% below the Tennessee median Cheapest county in Tennessee$5,000
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Median rent 53% below the Tennessee median Among the top 3 cheapest counties in Tennessee$557
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Clay County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $5,000 | $255,786 | $248,835 |
| Price Trend (Annual %) | -15.6% | 9.9% | 7.5% |
| Median Gross Rent | $557 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 1.5% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Clay County is about 98% lower than in Tennessee. Rent is about 53% lower than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Clay County: home prices fell about 15.6% a year while rent rose about 1.5% a year. That is an unusual pattern worth watching.
Median rent in Clay County rose about 10.2% between 2015 and 2024, from $505 to $557. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 0.1 yearly household incomes in Clay County.
Buying the median-priced home in Clay County costs roughly 0.7 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 Clay County. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Clay County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $5,000 | $255,786 | $248,835 |
| Median Household Income | $39,958 | $69,901 | $80,455 |
| Price-to-Income Ratio | 0.1 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Clay County fell about 95.9%, while median household income rose about 21.8% between 2009 and 2025 — 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 | Clay County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.7% | 60.1% | 58.5% |
| Rental Rate | 22.3% | 29.7% | 31.2% |
| Vacancy Rate | 13.0% | 10.2% | 10.2% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Clay County has a homeownership rate of 64.7%, higher than the Tennessee average of 60.1%. Its housing vacancy rate is 13.0%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Clay County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.17 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1985 | 1986 | 1978 |
| Median Number of Rooms | 5.3 | 5.7 | 5.5 |
The typical housing unit in Clay County was built around 1985. On average, 2.2 people live in a home with about 5.3 rooms, staying for about 18.0 years on average.
Clay County, TN Housing Compared With Nearby Counties
How Clay County, TN compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Clay County, TN | 7,670 | $5,000 #3/3 | $557 #3/3 | 74.4% #2/3 |
| Overton County, TN | 23,065 | $136,818 | $832 | 76.9% |
| Putnam County, TN | 82,558 | $218,410 | $908 | 61.2% |
Frequently Asked Questions
Common questions about the housing market in Clay County, Tennessee.
What is the median home price in Clay County, Tennessee?
The median home price in Clay County, Tennessee is $5,000, lower than the Tennessee average of $255,786.
What is the average home price in Clay County, Tennessee?
The typical home price in Clay County, Tennessee, reported as the median sale price, is $5,000. 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 Clay County, Tennessee?
The median gross rent in Clay County, Tennessee is $557 per month, lower than the Tennessee average of $1,188.
What was the median gross rent in Clay County in 2020?
In 2020, the median gross rent in Clay County, Tennessee was $521 per month.
What is the price-to-rent ratio in Clay County, Tennessee?
The price-to-rent ratio in Clay County, Tennessee is about 0.7, meaning it would take roughly 0.7 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 Clay County.
Are home prices or rent rising faster in Clay County, Tennessee?
Home prices and rent are moving in opposite directions in Clay County: home prices fell about 15.6% a year while rent rose about 1.5% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Clay County, Tennessee?
64.7% of households in Clay County, Tennessee own their home, higher than the Tennessee average of 60.1%.
What is the vacancy rate in Clay County, Tennessee?
The housing vacancy rate in Clay County, Tennessee is 13.0%, higher than the Tennessee average of 10.2%.
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