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 | Grainger County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $148,025 | $235,307 | $242,182 |
| Price Trend (Annual %) | 5.3% | 10.0% | 8.2% |
| Median Gross Rent | $726 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Grainger County is about 37% lower than in Tennessee. Rent is about 35% 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 Grainger County, up about 5.3% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Grainger County rose about 33.3% between 2015 and 2023, from $544 to $726. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Grainger County.
Buying the median-priced home in Grainger County costs roughly 17.0 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 Grainger County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Grainger County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $148,025 | $235,307 | $242,182 |
| Median Household Income | $51,481 | $67,486 | $78,145 |
| Price-to-Income Ratio | 2.9 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Grainger County rose about 25.8%, while median household income rose about 59.8% 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 | Grainger County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.1% | 60.0% | 58.2% |
| Rental Rate | 17.4% | 29.5% | 31.3% |
| Vacancy Rate | 18.6% | 10.6% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Grainger County has a homeownership rate of 64.1%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 18.6%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Grainger County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1985 | 1985 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Grainger County was built around 1985. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Grainger County, Tennessee.
What is the median home price in Grainger County, Tennessee?
The median home price in Grainger County, Tennessee is $148,025, lower than the Tennessee average of $235,307.
What is the average home price in Grainger 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 Grainger County, Tennessee?
The median gross rent in Grainger County, Tennessee is $726 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Grainger County in 2020?
In 2020, the median gross rent in Grainger County, Tennessee was $627 per month.
What is the price-to-rent ratio in Grainger County, Tennessee?
The price-to-rent ratio in Grainger County, Tennessee is about 17.0, meaning it would take roughly 17.0 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 Grainger County.
Are home prices or rent rising faster in Grainger County, Tennessee?
Both home prices and rent are rising in Grainger County, up about 5.3% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Grainger County, Tennessee?
64.1% of households in Grainger County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Grainger County, Tennessee?
The housing vacancy rate in Grainger County, Tennessee is 18.6%, higher than the Tennessee average of 10.6%.