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 | Sevier County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $255,120 | $235,307 | $242,182 |
| Price Trend (Annual %) | 8.3% | 10.0% | 8.2% |
| Median Gross Rent | $1,013 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 5.0% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sevier County is about 8% higher than in Tennessee. Rent is about 10% 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 Sevier County, up about 8.3% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Sevier County rose about 40.4% between 2015 and 2023, from $722 to $1,013. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Sevier County.
Buying the median-priced home in Sevier County costs roughly 21.0 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 Sevier County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Sevier County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $255,120 | $235,307 | $242,182 |
| Median Household Income | $63,346 | $67,486 | $78,145 |
| Price-to-Income Ratio | 4.0 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sevier County rose about 83.9%, while median household income rose about 51.8% 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 | Sevier County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.8% | 60.0% | 58.2% |
| Rental Rate | 19.0% | 29.5% | 31.3% |
| Vacancy Rate | 32.2% | 10.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Sevier County has a homeownership rate of 48.8%, lower than the Tennessee average of 60.0%. Its housing vacancy rate is 32.2%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Sevier County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1993 | 1985 | 1978 |
| Median Number of Rooms | 5.3 | 5.7 | 5.5 |
The typical housing unit in Sevier County was built around 1993. On average, 2.5 people live in a home with about 5.3 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sevier County, Tennessee.
What is the median home price in Sevier County, Tennessee?
The median home price in Sevier County, Tennessee is $255,120, higher than the Tennessee average of $235,307.
What is the average home price in Sevier 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 Sevier County, Tennessee?
The median gross rent in Sevier County, Tennessee is $1,013 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Sevier County in 2020?
In 2020, the median gross rent in Sevier County, Tennessee was $810 per month.
What is the price-to-rent ratio in Sevier County, Tennessee?
The price-to-rent ratio in Sevier County, Tennessee is about 21.0, meaning it would take roughly 21.0 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 Sevier County.
Are home prices or rent rising faster in Sevier County, Tennessee?
Both home prices and rent are rising in Sevier County, up about 8.3% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sevier County, Tennessee?
48.8% of households in Sevier County, Tennessee own their home, lower than the Tennessee average of 60.0%.
What is the vacancy rate in Sevier County, Tennessee?
The housing vacancy rate in Sevier County, Tennessee is 32.2%, higher than the Tennessee average of 10.6%.