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 | Coffee County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $533,088 | $235,307 | $242,182 |
| Price Trend (Annual %) | 39.7% | 10.0% | 8.2% |
| Median Gross Rent | $884 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Coffee County is about 127% higher than in Tennessee. Rent is about 21% 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 Coffee County, up about 39.7% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Coffee County rose about 32.1% between 2015 and 2023, from $669 to $884. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 8.8 yearly household incomes in Coffee County.
Buying the median-priced home in Coffee County costs roughly 50.2 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 Coffee County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Coffee County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $533,088 | $235,307 | $242,182 |
| Median Household Income | $60,764 | $67,486 | $78,145 |
| Price-to-Income Ratio | 8.8 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Coffee County rose about 482.6%, while median household income rose about 54.1% 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 | Coffee County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.6% | 60.0% | 58.2% |
| Rental Rate | 26.9% | 29.5% | 31.3% |
| Vacancy Rate | 9.5% | 10.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Coffee County has a homeownership rate of 63.6%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 9.5%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Coffee County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1988 | 1985 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Coffee County was built around 1988. On average, 2.6 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Coffee County, Tennessee.
What is the median home price in Coffee County, Tennessee?
The median home price in Coffee County, Tennessee is $533,088, higher than the Tennessee average of $235,307.
What is the average home price in Coffee 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 Coffee County, Tennessee?
The median gross rent in Coffee County, Tennessee is $884 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Coffee County in 2020?
In 2020, the median gross rent in Coffee County, Tennessee was $715 per month.
What is the price-to-rent ratio in Coffee County, Tennessee?
The price-to-rent ratio in Coffee County, Tennessee is about 50.2, meaning it would take roughly 50.2 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 Coffee County.
Are home prices or rent rising faster in Coffee County, Tennessee?
Both home prices and rent are rising in Coffee County, up about 39.7% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Coffee County, Tennessee?
63.6% of households in Coffee County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Coffee County, Tennessee?
The housing vacancy rate in Coffee County, Tennessee is 9.5%, lower than the Tennessee average of 10.6%.