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 | Hamblen County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $176,744 | $235,307 | $242,182 |
| Price Trend (Annual %) | 4.7% | 10.0% | 8.2% |
| Median Gross Rent | $837 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hamblen County is about 25% 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 Hamblen County, up about 4.7% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Hamblen County rose about 28.0% between 2015 and 2023, from $654 to $837. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Hamblen County.
Buying the median-priced home in Hamblen County costs roughly 17.6 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 Hamblen County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Hamblen County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $176,744 | $235,307 | $242,182 |
| Median Household Income | $52,869 | $67,486 | $78,145 |
| Price-to-Income Ratio | 3.3 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Hamblen County rose about 66.7%, while median household income rose about 34.0% 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 | Hamblen County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.3% | 60.0% | 58.2% |
| Rental Rate | 29.3% | 29.5% | 31.3% |
| Vacancy Rate | 7.4% | 10.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Hamblen County has a homeownership rate of 63.3%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 7.4%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Hamblen County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.49 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1982 | 1985 | 1978 |
| Median Number of Rooms | 5.6 | 5.7 | 5.5 |
The typical housing unit in Hamblen County was built around 1982. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hamblen County, Tennessee.
What is the median home price in Hamblen County, Tennessee?
The median home price in Hamblen County, Tennessee is $176,744, lower than the Tennessee average of $235,307.
What is the average home price in Hamblen 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 Hamblen County, Tennessee?
The median gross rent in Hamblen County, Tennessee is $837 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Hamblen County in 2020?
In 2020, the median gross rent in Hamblen County, Tennessee was $720 per month.
What is the price-to-rent ratio in Hamblen County, Tennessee?
The price-to-rent ratio in Hamblen County, Tennessee is about 17.6, meaning it would take roughly 17.6 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 Hamblen County.
Are home prices or rent rising faster in Hamblen County, Tennessee?
Both home prices and rent are rising in Hamblen County, up about 4.7% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hamblen County, Tennessee?
63.3% of households in Hamblen County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Hamblen County, Tennessee?
The housing vacancy rate in Hamblen County, Tennessee is 7.4%, lower than the Tennessee average of 10.6%.