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 | Giles County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $114,423 | $235,307 | $242,182 |
| Price Trend (Annual %) | 10.2% | 10.0% | 8.2% |
| Median Gross Rent | $836 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 4.7% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Giles County is about 51% lower than in Tennessee. Rent is about 25% 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 Giles County, up about 10.2% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Giles County rose about 38.5% between 2015 and 2023, from $603 to $836. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Giles County.
Buying the median-priced home in Giles County costs roughly 11.4 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 Giles County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Giles County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $114,423 | $235,307 | $242,182 |
| Median Household Income | $61,650 | $67,486 | $78,145 |
| Price-to-Income Ratio | 1.9 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Giles County rose about 30.2%, while median household income rose about 57.1% 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 | Giles County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.4% | 60.0% | 58.2% |
| Rental Rate | 21.6% | 29.5% | 31.3% |
| Vacancy Rate | 17.0% | 10.6% | 10.6% |
| Median Tenure (years) | 19.0 | 14.0 | 15.0 |
| Median Year Moved In | 2007 | 2012 | 2011 |
Giles County has a homeownership rate of 61.4%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 17.0%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Giles County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1983 | 1985 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Giles County was built around 1983. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Giles County, Tennessee.
What is the median home price in Giles County, Tennessee?
The median home price in Giles County, Tennessee is $114,423, lower than the Tennessee average of $235,307.
What is the average home price in Giles 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 Giles County, Tennessee?
The median gross rent in Giles County, Tennessee is $836 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Giles County in 2020?
In 2020, the median gross rent in Giles County, Tennessee was $678 per month.
What is the price-to-rent ratio in Giles County, Tennessee?
The price-to-rent ratio in Giles County, Tennessee is about 11.4, meaning it would take roughly 11.4 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 Giles County.
Are home prices or rent rising faster in Giles County, Tennessee?
Both home prices and rent are rising in Giles County, up about 10.2% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Giles County, Tennessee?
61.4% of households in Giles County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Giles County, Tennessee?
The housing vacancy rate in Giles County, Tennessee is 17.0%, higher than the Tennessee average of 10.6%.