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 | Marshall County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $222,368 | $235,307 | $242,182 |
| Price Trend (Annual %) | 26.5% | 10.0% | 8.2% |
| Median Gross Rent | $924 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 4.9% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Marshall County is about 5% lower than in Tennessee. Rent is about 18% 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 Marshall County, up about 26.5% and 4.9% a year respectively. Home prices are changing faster.
Median rent in Marshall County rose about 41.5% between 2015 and 2023, from $653 to $924. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Marshall County.
Buying the median-priced home in Marshall County costs roughly 20.1 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 Marshall County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Marshall County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $222,368 | $235,307 | $242,182 |
| Median Household Income | $71,054 | $67,486 | $78,145 |
| Price-to-Income Ratio | 3.1 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Marshall County rose about 138.5%, while median household income rose about 76.7% 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 | Marshall County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.8% | 60.0% | 58.2% |
| Rental Rate | 20.6% | 29.5% | 31.3% |
| Vacancy Rate | 8.6% | 10.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Marshall County has a homeownership rate of 70.8%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 8.6%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Marshall County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.63 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1988 | 1985 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Marshall County was built around 1988. On average, 2.6 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Marshall County, Tennessee.
What is the median home price in Marshall County, Tennessee?
The median home price in Marshall County, Tennessee is $222,368, lower than the Tennessee average of $235,307.
What is the average home price in Marshall 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 Marshall County, Tennessee?
The median gross rent in Marshall County, Tennessee is $924 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Marshall County in 2020?
In 2020, the median gross rent in Marshall County, Tennessee was $809 per month.
What is the price-to-rent ratio in Marshall County, Tennessee?
The price-to-rent ratio in Marshall County, Tennessee is about 20.1, meaning it would take roughly 20.1 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 Marshall County.
Are home prices or rent rising faster in Marshall County, Tennessee?
Both home prices and rent are rising in Marshall County, up about 26.5% and 4.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Marshall County, Tennessee?
70.8% of households in Marshall County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Marshall County, Tennessee?
The housing vacancy rate in Marshall County, Tennessee is 8.6%, lower than the Tennessee average of 10.6%.