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 | Fentress County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $116,810 | $235,307 | $242,182 |
| Price Trend (Annual %) | 18.8% | 10.0% | 8.2% |
| Median Gross Rent | $614 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 3.2% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fentress County is about 50% lower than in Tennessee. Rent is about 45% 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 Fentress County, up about 18.8% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Fentress County rose about 21.2% between 2015 and 2023, from $506 to $614. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Fentress County.
Buying the median-priced home in Fentress County costs roughly 15.9 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 Fentress County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Fentress County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $116,810 | $235,307 | $242,182 |
| Median Household Income | $51,091 | $67,486 | $78,145 |
| Price-to-Income Ratio | 2.3 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Fentress County rose about 52.5%, while median household income rose about 82.2% between 2009 and 2023 — 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 | Fentress County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.3% | 60.0% | 58.2% |
| Rental Rate | 16.2% | 29.5% | 31.3% |
| Vacancy Rate | 16.5% | 10.6% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Fentress County has a homeownership rate of 67.3%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 16.5%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Fentress County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1985 | 1985 | 1978 |
| Median Number of Rooms | 5.6 | 5.7 | 5.5 |
The typical housing unit in Fentress County was built around 1985. On average, 2.4 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 Fentress County, Tennessee.
What is the median home price in Fentress County, Tennessee?
The median home price in Fentress County, Tennessee is $116,810, lower than the Tennessee average of $235,307.
What is the average home price in Fentress 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 Fentress County, Tennessee?
The median gross rent in Fentress County, Tennessee is $614 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Fentress County in 2020?
In 2020, the median gross rent in Fentress County, Tennessee was $528 per month.
What is the price-to-rent ratio in Fentress County, Tennessee?
The price-to-rent ratio in Fentress County, Tennessee is about 15.9, meaning it would take roughly 15.9 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 Fentress County.
Are home prices or rent rising faster in Fentress County, Tennessee?
Both home prices and rent are rising in Fentress County, up about 18.8% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fentress County, Tennessee?
67.3% of households in Fentress County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Fentress County, Tennessee?
The housing vacancy rate in Fentress County, Tennessee is 16.5%, higher than the Tennessee average of 10.6%.