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 | Rutherford County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $365,804 | $235,307 | $242,182 |
| Price Trend (Annual %) | 14.3% | 10.0% | 8.2% |
| Median Gross Rent | $1,404 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 6.2% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rutherford County is about 55% higher than in Tennessee. Rent is about 25% higher 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 Rutherford County, up about 14.3% and 6.2% a year respectively. Home prices are changing faster.
Median rent in Rutherford County rose about 58.0% between 2015 and 2023, from $889 to $1,404. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 4.4 yearly household incomes in Rutherford County.
Buying the median-priced home in Rutherford County costs roughly 21.7 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 Rutherford County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Rutherford County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $365,804 | $235,307 | $242,182 |
| Median Household Income | $83,166 | $67,486 | $78,145 |
| Price-to-Income Ratio | 4.4 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Rutherford County rose about 175.7%, while median household income rose about 56.1% 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 | Rutherford County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.5% | 60.0% | 58.2% |
| Rental Rate | 32.5% | 29.5% | 31.3% |
| Vacancy Rate | 7.0% | 10.6% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Rutherford County has a homeownership rate of 60.5%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 7.0%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Rutherford County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.76 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1996 | 1985 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Rutherford County was built around 1996. On average, 2.8 people live in a home with about 5.8 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Rutherford County, Tennessee.
What is the median home price in Rutherford County, Tennessee?
The median home price in Rutherford County, Tennessee is $365,804, higher than the Tennessee average of $235,307.
What is the average home price in Rutherford 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 Rutherford County, Tennessee?
The median gross rent in Rutherford County, Tennessee is $1,404 per month, higher than the Tennessee average of $1,121.
What was the median gross rent in Rutherford County in 2020?
In 2020, the median gross rent in Rutherford County, Tennessee was $1,116 per month.
What is the price-to-rent ratio in Rutherford County, Tennessee?
The price-to-rent ratio in Rutherford County, Tennessee is about 21.7, meaning it would take roughly 21.7 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 Rutherford County.
Are home prices or rent rising faster in Rutherford County, Tennessee?
Both home prices and rent are rising in Rutherford County, up about 14.3% and 6.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Rutherford County, Tennessee?
60.5% of households in Rutherford County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Rutherford County, Tennessee?
The housing vacancy rate in Rutherford County, Tennessee is 7.0%, lower than the Tennessee average of 10.6%.