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 | Cocke County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $251,923 | $235,307 | $242,182 |
| Price Trend (Annual %) | 66.2% | 10.0% | 8.2% |
| Median Gross Rent | $786 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 5.0% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cocke County is about 7% higher than in Tennessee. Rent is about 30% 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 Cocke County, up about 66.2% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Cocke County rose about 41.4% between 2015 and 2023, from $556 to $786. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 5.2 yearly household incomes in Cocke County.
Buying the median-priced home in Cocke County costs roughly 26.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Cocke County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Cocke County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $251,923 | $235,307 | $242,182 |
| Median Household Income | $47,990 | $67,486 | $78,145 |
| Price-to-Income Ratio | 5.2 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Cocke County rose about 432.0%, while median household income rose about 59.8% 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 | Cocke County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.2% | 60.0% | 58.2% |
| Rental Rate | 24.4% | 29.5% | 31.3% |
| Vacancy Rate | 15.4% | 10.6% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Cocke County has a homeownership rate of 60.2%, about the same as the Tennessee average of 60.0%. Its housing vacancy rate is 15.4%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Cocke County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1985 | 1985 | 1978 |
| Median Number of Rooms | 5.2 | 5.7 | 5.5 |
The typical housing unit in Cocke County was built around 1985. On average, 2.4 people live in a home with about 5.2 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Cocke County, Tennessee.
What is the median home price in Cocke County, Tennessee?
The median home price in Cocke County, Tennessee is $251,923, higher than the Tennessee average of $235,307.
What is the average home price in Cocke 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 Cocke County, Tennessee?
The median gross rent in Cocke County, Tennessee is $786 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Cocke County in 2020?
In 2020, the median gross rent in Cocke County, Tennessee was $676 per month.
What is the price-to-rent ratio in Cocke County, Tennessee?
The price-to-rent ratio in Cocke County, Tennessee is about 26.7, meaning it would take roughly 26.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Cocke County.
Are home prices or rent rising faster in Cocke County, Tennessee?
Both home prices and rent are rising in Cocke County, up about 66.2% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Cocke County, Tennessee?
60.2% of households in Cocke County, Tennessee own their home, about the same as the Tennessee average.
What is the vacancy rate in Cocke County, Tennessee?
The housing vacancy rate in Cocke County, Tennessee is 15.4%, higher than the Tennessee average of 10.6%.