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 | Grundy County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $177,778 | $235,307 | $242,182 |
| Price Trend (Annual %) | 12.8% | 10.0% | 8.2% |
| Median Gross Rent | $723 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 4.1% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Grundy County is about 24% lower than in Tennessee. Rent is about 36% 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 Grundy County, up about 12.8% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Grundy County rose about 37.8% between 2015 and 2023, from $525 to $723. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Grundy County.
Buying the median-priced home in Grundy County costs roughly 20.5 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 Grundy County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Grundy County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $177,778 | $235,307 | $242,182 |
| Median Household Income | $45,410 | $67,486 | $78,145 |
| Price-to-Income Ratio | 3.9 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Grundy County rose about 166.3%, while median household income rose about 71.1% between 2009 and 2023 — 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 | Grundy County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.4% | 60.0% | 58.2% |
| Rental Rate | 13.8% | 29.5% | 31.3% |
| Vacancy Rate | 17.8% | 10.6% | 10.6% |
| Median Tenure (years) | 20.0 | 14.0 | 15.0 |
| Median Year Moved In | 2006 | 2012 | 2011 |
Grundy County has a homeownership rate of 68.4%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 17.8%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Grundy County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.64 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 Grundy County was built around 1985. On average, 2.6 people live in a home with about 5.5 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Grundy County, Tennessee.
What is the median home price in Grundy County, Tennessee?
The median home price in Grundy County, Tennessee is $177,778, lower than the Tennessee average of $235,307.
What is the average home price in Grundy 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 Grundy County, Tennessee?
The median gross rent in Grundy County, Tennessee is $723 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Grundy County in 2020?
In 2020, the median gross rent in Grundy County, Tennessee was $642 per month.
What is the price-to-rent ratio in Grundy County, Tennessee?
The price-to-rent ratio in Grundy County, Tennessee is about 20.5, meaning it would take roughly 20.5 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 Grundy County.
Are home prices or rent rising faster in Grundy County, Tennessee?
Both home prices and rent are rising in Grundy County, up about 12.8% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Grundy County, Tennessee?
68.4% of households in Grundy County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Grundy County, Tennessee?
The housing vacancy rate in Grundy County, Tennessee is 17.8%, higher than the Tennessee average of 10.6%.