Rhea County, Tennessee Housing Market Prices
Rhea County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 8% above the Tennessee median More expensive than 74% of counties in Tennessee$276,685
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Median rent 29% below the Tennessee median$839
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Rhea County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $276,685 | $255,786 | $248,835 |
| Price Trend (Annual %) | 9.4% | 9.9% | 7.5% |
| Median Gross Rent | $839 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rhea County is about 8% higher than in Tennessee. Rent is about 29% lower than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Rhea County, up about 9.4% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Rhea County rose about 44.0% between 2015 and 2024, from $583 to $839. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 4.9 yearly household incomes in Rhea County.
Buying the median-priced home in Rhea County costs roughly 27.5 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 Rhea County. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Rhea County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $276,685 | $255,786 | $248,835 |
| Median Household Income | $55,956 | $69,901 | $80,455 |
| Price-to-Income Ratio | 4.9 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Rhea County rose about 32.8%, while median household income rose about 56.0% between 2009 and 2025 — 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 | Rhea County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.3% | 60.1% | 58.5% |
| Rental Rate | 24.9% | 29.7% | 31.2% |
| Vacancy Rate | 12.8% | 10.2% | 10.2% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Rhea County has a homeownership rate of 62.3%, higher than the Tennessee average of 60.1%. Its housing vacancy rate is 12.8%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Rhea County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1989 | 1986 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Rhea County was built around 1989. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Rhea County, TN Housing Compared With Nearby Counties
Rhea County, TN is the smallest of the 4 counties compared here, 33,992 residents against a local median of 63,553. Rhea County, TN's median home price, at $276,685, runs 24% above the $223,495 typical of the counties around it.
The counties themselves spread $132,040 on median home price, so Rhea County, TN sits at one end of an already wide local range rather than apart from it. Rhea County, TN has the 2nd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Rhea County, TN | 33,992 | $276,685 #2/4 | $839 #2/4 | 71.5% #3/4 |
| Cumberland County, TN | 63,553 | $278,289 | $838 | 80.2% |
| McMinn County, TN | 54,884 | $146,249 | $803 | 75.8% |
| Bradley County, TN | 110,691 | $223,495 | $1,029 | 67.3% |
Frequently Asked Questions
Common questions about the housing market in Rhea County, Tennessee.
What is the median home price in Rhea County, Tennessee?
The median home price in Rhea County, Tennessee is $276,685, higher than the Tennessee average of $255,786.
What is the average home price in Rhea County, Tennessee?
The typical home price in Rhea County, Tennessee, reported as the median sale price, is $276,685. 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 Rhea County, Tennessee?
The median gross rent in Rhea County, Tennessee is $839 per month, lower than the Tennessee average of $1,188.
What was the median gross rent in Rhea County in 2020?
In 2020, the median gross rent in Rhea County, Tennessee was $647 per month.
What is the price-to-rent ratio in Rhea County, Tennessee?
The price-to-rent ratio in Rhea County, Tennessee is about 27.5, meaning it would take roughly 27.5 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 Rhea County.
Are home prices or rent rising faster in Rhea County, Tennessee?
Both home prices and rent are rising in Rhea County, up about 9.4% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Rhea County, Tennessee?
62.3% of households in Rhea County, Tennessee own their home, higher than the Tennessee average of 60.1%.
What is the vacancy rate in Rhea County, Tennessee?
The housing vacancy rate in Rhea County, Tennessee is 12.8%, higher than the Tennessee average of 10.2%.
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