Germantown, Tennessee Housing Market Prices
Germantown 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 95% above the Tennessee median$498,811
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Median rent 43% above the Tennessee median$1,697
Housing Market Overview
| Metric | Germantown | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $498,811 | $255,786 | $248,835 |
| Price Trend (Annual %) | 10.3% | 9.9% | 7.5% |
| Median Gross Rent | $1,697 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 5.1% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Germantown is about 95% higher than in Tennessee. Rent is about 43% 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 Germantown, up about 10.3% and 5.1% a year respectively. Home prices are changing faster.
Median rent in Germantown rose about 49.1% between 2015 and 2024, from $1,138 to $1,697. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Germantown.
Buying the median-priced home in Germantown costs roughly 24.5 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 Germantown. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Germantown | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $498,811 | $255,786 | $248,835 |
| Median Household Income | $141,738 | $69,901 | $80,455 |
| Price-to-Income Ratio | 3.5 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Germantown rose about 109.3%, while median household income rose about 27.4% 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 | Germantown | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 77.2% | 60.1% | 58.5% |
| Rental Rate | 18.3% | 29.7% | 31.2% |
| Vacancy Rate | 4.5% | 10.2% | 10.2% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Germantown has a homeownership rate of 77.2%, higher than the Tennessee average of 60.1%. Its housing vacancy rate is 4.5%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Germantown | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.52 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1986 | 1986 | 1978 |
| Median Number of Rooms | 7.9 | 5.7 | 5.5 |
The typical housing unit in Germantown was built around 1986. On average, 2.5 people live in a home with about 7.9 rooms, staying for about 15.0 years on average.
Germantown, TN Housing Compared With Nearby Cities
How Germantown, TN compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Germantown, TN | 42,327 | $498,811 #1/2 | $1,697 #1/2 | 80.9% #1/2 |
| Collierville, TN | 52,351 | $156,257 | $1,644 | 77.4% |
Frequently Asked Questions
Common questions about the housing market in Germantown, Tennessee.
What is the median home price in Germantown, Tennessee?
The median home price in Germantown, Tennessee is $498,811, higher than the Tennessee average of $255,786.
What is the average home price in Germantown, Tennessee?
The typical home price in Germantown, Tennessee, reported as the median sale price, is $498,811. 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 Germantown, Tennessee?
The median gross rent in Germantown, Tennessee is $1,697 per month, higher than the Tennessee average of $1,188.
What was the median gross rent in Germantown in 2020?
In 2020, the median gross rent in Germantown, Tennessee was $1,237 per month.
What is the price-to-rent ratio in Germantown, Tennessee?
The price-to-rent ratio in Germantown, Tennessee is about 24.5, meaning it would take roughly 24.5 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 Germantown.
Are home prices or rent rising faster in Germantown, Tennessee?
Both home prices and rent are rising in Germantown, up about 10.3% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Germantown, Tennessee?
77.2% of households in Germantown, Tennessee own their home, higher than the Tennessee average of 60.1%.
What is the vacancy rate in Germantown, Tennessee?
The housing vacancy rate in Germantown, Tennessee is 4.5%, lower than the Tennessee average of 10.2%.
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