Farragut, Tennessee Housing Market Prices
Farragut 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 35% below the Tennessee median$167,047
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Median rent 57% above the Tennessee median$1,869
Housing Market Overview
| Metric | Farragut | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $167,047 | $255,786 | $248,835 |
| Price Trend (Annual %) | 4.7% | 9.9% | 7.5% |
| Median Gross Rent | $1,869 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 6.9% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Farragut is about 35% lower than in Tennessee. Rent is about 57% higher 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 Farragut, up about 4.7% and 6.9% a year respectively. Rent is changing faster.
Median rent in Farragut rose about 79.9% between 2015 and 2024, from $1,039 to $1,869. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 1.2 yearly household incomes in Farragut.
Buying the median-priced home in Farragut costs roughly 7.4 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 Farragut. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Farragut | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $167,047 | $255,786 | $248,835 |
| Median Household Income | $137,090 | $69,901 | $80,455 |
| Price-to-Income Ratio | 1.2 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Farragut fell about 15.2%, while median household income rose about 35.0% 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 | Farragut | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 84.5% | 60.1% | 58.5% |
| Rental Rate | 14.0% | 29.7% | 31.2% |
| Vacancy Rate | 1.5% | 10.2% | 10.2% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Farragut has a homeownership rate of 84.5%, higher than the Tennessee average of 60.1%. Its housing vacancy rate is 1.5%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Farragut | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.67 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1993 | 1986 | 1978 |
| Median Number of Rooms | 7.9 | 5.7 | 5.5 |
The typical housing unit in Farragut was built around 1993. On average, 2.7 people live in a home with about 7.9 rooms, staying for about 14.0 years on average.
Farragut, TN Housing Compared With Nearby Cities
How Farragut, TN compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Farragut, TN | 24,078 | $167,047 #1/2 | $1,869 #1/2 | 85.8% #1/2 |
| Oak Ridge, TN | 30,080 | $149,636 | $1,122 | 65.1% |
Frequently Asked Questions
Common questions about the housing market in Farragut, Tennessee.
What is the median home price in Farragut, Tennessee?
The median home price in Farragut, Tennessee is $167,047, lower than the Tennessee average of $255,786.
What is the average home price in Farragut, Tennessee?
The typical home price in Farragut, Tennessee, reported as the median sale price, is $167,047. 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 Farragut, Tennessee?
The median gross rent in Farragut, Tennessee is $1,869 per month, higher than the Tennessee average of $1,188.
What was the median gross rent in Farragut in 2020?
In 2020, the median gross rent in Farragut, Tennessee was $1,177 per month.
What is the price-to-rent ratio in Farragut, Tennessee?
The price-to-rent ratio in Farragut, Tennessee is about 7.4, meaning it would take roughly 7.4 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 Farragut.
Are home prices or rent rising faster in Farragut, Tennessee?
Both home prices and rent are rising in Farragut, up about 4.7% and 6.9% a year respectively. Rent is changing faster.
What is the homeownership rate in Farragut, Tennessee?
84.5% of households in Farragut, Tennessee own their home, higher than the Tennessee average of 60.1%.
What is the vacancy rate in Farragut, Tennessee?
The housing vacancy rate in Farragut, Tennessee is 1.5%, lower than the Tennessee average of 10.2%.
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