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 | Haywood County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,317 | $235,307 | $242,182 |
| Price Trend (Annual %) | 13.7% | 10.0% | 8.2% |
| Median Gross Rent | $724 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 2.9% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Haywood County is about 49% 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 Haywood County, up about 13.7% and 2.9% a year respectively. Home prices are changing faster.
Median rent in Haywood County rose about 21.4% between 2015 and 2023, from $597 to $725. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Haywood County.
Buying the median-priced home in Haywood County costs roughly 13.7 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 Haywood County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Haywood County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,317 | $235,307 | $242,182 |
| Median Household Income | $43,760 | $67,486 | $78,145 |
| Price-to-Income Ratio | 2.7 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Haywood County rose about 83.2%, while median household income rose about 42.9% 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 | Haywood County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.8% | 60.0% | 58.2% |
| Rental Rate | 37.1% | 29.5% | 31.3% |
| Vacancy Rate | 13.1% | 10.6% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Haywood County has a homeownership rate of 49.8%, lower than the Tennessee average of 60.0%. Its housing vacancy rate is 13.1%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Haywood County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1979 | 1985 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Haywood County was built around 1979. On average, 2.4 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 Haywood County, Tennessee.
What is the median home price in Haywood County, Tennessee?
The median home price in Haywood County, Tennessee is $119,317, lower than the Tennessee average of $235,307.
What is the average home price in Haywood 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 Haywood County, Tennessee?
The median gross rent in Haywood County, Tennessee is $725 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Haywood County in 2020?
In 2020, the median gross rent in Haywood County, Tennessee was $648 per month.
What is the price-to-rent ratio in Haywood County, Tennessee?
The price-to-rent ratio in Haywood County, Tennessee is about 13.7, meaning it would take roughly 13.7 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 Haywood County.
Are home prices or rent rising faster in Haywood County, Tennessee?
Both home prices and rent are rising in Haywood County, up about 13.7% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Haywood County, Tennessee?
49.8% of households in Haywood County, Tennessee own their home, lower than the Tennessee average of 60.0%.
What is the vacancy rate in Haywood County, Tennessee?
The housing vacancy rate in Haywood County, Tennessee is 13.1%, higher than the Tennessee average of 10.6%.