East Ridge, Tennessee Housing Market Prices
East Ridge 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 6% above the Tennessee median$272,305
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Median rent 3% below the Tennessee median$1,155
Housing Market Overview
| Metric | East Ridge | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $272,305 | $255,786 | $248,835 |
| Price Trend (Annual %) | 14.2% | 9.9% | 7.5% |
| Median Gross Rent | $1,155 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 5.3% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in East Ridge is about 6% higher than in Tennessee. Rent is about 3% lower than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in East Ridge, up about 14.2% and 5.3% a year respectively. Home prices are changing faster.
Median rent in East Ridge rose about 54.2% between 2015 and 2024, from $749 to $1,155. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in East Ridge.
Buying the median-priced home in East Ridge costs roughly 19.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in East Ridge. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | East Ridge | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $272,305 | $255,786 | $248,835 |
| Median Household Income | $62,733 | $69,901 | $80,455 |
| Price-to-Income Ratio | 4.3 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in East Ridge rose about 116.6%, while median household income rose about 42.4% between 2009 and 2025 — 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 | East Ridge | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.1% | 60.1% | 58.5% |
| Rental Rate | 38.3% | 29.7% | 31.2% |
| Vacancy Rate | 8.6% | 10.2% | 10.2% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
East Ridge has a homeownership rate of 53.1%, lower than the Tennessee average of 60.1%. Its housing vacancy rate is 8.6%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | East Ridge | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1965 | 1986 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in East Ridge was built around 1965. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 11.0 years on average.
East Ridge, TN Housing Compared With Nearby Cities
How East Ridge, TN compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| East Ridge, TN | 21,177 | $272,305 #2/2 | $1,155 #2/2 | 58.1% #1/2 |
| Chattanooga, TN | 187,055 | $319,605 | $1,256 | 52.6% |
Frequently Asked Questions
Common questions about the housing market in East Ridge, Tennessee.
What is the median home price in East Ridge, Tennessee?
The median home price in East Ridge, Tennessee is $272,305, higher than the Tennessee average of $255,786.
What is the average home price in East Ridge, Tennessee?
The typical home price in East Ridge, Tennessee, reported as the median sale price, is $272,305. 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 East Ridge, Tennessee?
The median gross rent in East Ridge, Tennessee is $1,155 per month, lower than the Tennessee average of $1,188.
What was the median gross rent in East Ridge in 2020?
In 2020, the median gross rent in East Ridge, Tennessee was $911 per month.
What is the price-to-rent ratio in East Ridge, Tennessee?
The price-to-rent ratio in East Ridge, Tennessee is about 19.6, meaning it would take roughly 19.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in East Ridge.
Are home prices or rent rising faster in East Ridge, Tennessee?
Both home prices and rent are rising in East Ridge, up about 14.2% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in East Ridge, Tennessee?
53.1% of households in East Ridge, Tennessee own their home, lower than the Tennessee average of 60.1%.
What is the vacancy rate in East Ridge, Tennessee?
The housing vacancy rate in East Ridge, Tennessee is 8.6%, lower than the Tennessee average of 10.2%.
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