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 | Decatur County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $174,553 | $235,307 | $242,182 |
| Price Trend (Annual %) | 53.6% | 10.0% | 8.2% |
| Median Gross Rent | $716 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 4.1% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Decatur County is about 26% lower than in Tennessee. Rent is about 36% 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 Decatur County, up about 53.6% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Decatur County rose about 34.5% between 2015 and 2023, from $532 to $716. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Decatur County.
Buying the median-priced home in Decatur County costs roughly 20.3 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 Decatur County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Decatur County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $174,553 | $235,307 | $242,182 |
| Median Household Income | $45,806 | $67,486 | $78,145 |
| Price-to-Income Ratio | 3.8 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Decatur County rose about 86.0%, while median household income rose about 80.0% 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 | Decatur County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.5% | 60.0% | 58.2% |
| Rental Rate | 16.9% | 29.5% | 31.3% |
| Vacancy Rate | 32.6% | 10.6% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Decatur County has a homeownership rate of 50.5%, lower than the Tennessee average of 60.0%. Its housing vacancy rate is 32.6%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Decatur County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1983 | 1985 | 1978 |
| Median Number of Rooms | 5.6 | 5.7 | 5.5 |
The typical housing unit in Decatur County was built around 1983. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Decatur County, Tennessee.
What is the median home price in Decatur County, Tennessee?
The median home price in Decatur County, Tennessee is $174,553, lower than the Tennessee average of $235,307.
What is the average home price in Decatur 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 Decatur County, Tennessee?
The median gross rent in Decatur County, Tennessee is $716 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Decatur County in 2020?
In 2020, the median gross rent in Decatur County, Tennessee was $572 per month.
What is the price-to-rent ratio in Decatur County, Tennessee?
The price-to-rent ratio in Decatur County, Tennessee is about 20.3, meaning it would take roughly 20.3 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 Decatur County.
Are home prices or rent rising faster in Decatur County, Tennessee?
Both home prices and rent are rising in Decatur County, up about 53.6% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Decatur County, Tennessee?
50.5% of households in Decatur County, Tennessee own their home, lower than the Tennessee average of 60.0%.
What is the vacancy rate in Decatur County, Tennessee?
The housing vacancy rate in Decatur County, Tennessee is 32.6%, higher than the Tennessee average of 10.6%.