Smith County, Tennessee Housing Market Prices
Smith 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 46% below the Tennessee median Cheaper than 73% of counties in Tennessee$136,979
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Median rent 22% below the Tennessee median More expensive than 74% of counties in Tennessee$922
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Smith County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $136,979 | $255,786 | $248,835 |
| Price Trend (Annual %) | 41.2% | 9.9% | 7.5% |
| Median Gross Rent | $922 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 6.6% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Smith County is about 46% lower than in Tennessee. Rent is about 22% 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 Smith County, up about 41.2% and 6.6% a year respectively. Home prices are changing faster.
Median rent in Smith County rose about 71.5% between 2015 and 2024, from $537 to $922. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Smith County.
Buying the median-priced home in Smith County costs roughly 12.4 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 Smith County. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Smith County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $136,979 | $255,786 | $248,835 |
| Median Household Income | $67,553 | $69,901 | $80,455 |
| Price-to-Income Ratio | 2.0 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Smith County rose about 32.2%, while median household income rose about 38.5% 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 | Smith County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.7% | 60.1% | 58.5% |
| Rental Rate | 20.9% | 29.7% | 31.2% |
| Vacancy Rate | 9.4% | 10.2% | 10.2% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Smith County has a homeownership rate of 69.7%, higher than the Tennessee average of 60.1%. Its housing vacancy rate is 9.4%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Smith County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1985 | 1986 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Smith County was built around 1985. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 17.0 years on average.
Smith County, TN Housing Compared With Nearby Counties
How Smith County, TN compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Smith County, TN | 20,389 | $136,979 #3/3 | $922 #2/3 | 76.9% #2/3 |
| Macon County, TN | 26,240 | $282,916 | $846 | 73.6% |
| Wilson County, TN | 157,828 | $463,718 | $1,485 | 76.9% |
Frequently Asked Questions
Common questions about the housing market in Smith County, Tennessee.
What is the median home price in Smith County, Tennessee?
The median home price in Smith County, Tennessee is $136,979, lower than the Tennessee average of $255,786.
What is the average home price in Smith County, Tennessee?
The typical home price in Smith County, Tennessee, reported as the median sale price, is $136,979. 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 Smith County, Tennessee?
The median gross rent in Smith County, Tennessee is $922 per month, lower than the Tennessee average of $1,188.
What was the median gross rent in Smith County in 2020?
In 2020, the median gross rent in Smith County, Tennessee was $662 per month.
What is the price-to-rent ratio in Smith County, Tennessee?
The price-to-rent ratio in Smith County, Tennessee is about 12.4, meaning it would take roughly 12.4 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 Smith County.
Are home prices or rent rising faster in Smith County, Tennessee?
Both home prices and rent are rising in Smith County, up about 41.2% and 6.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Smith County, Tennessee?
69.7% of households in Smith County, Tennessee own their home, higher than the Tennessee average of 60.1%.
What is the vacancy rate in Smith County, Tennessee?
The housing vacancy rate in Smith County, Tennessee is 9.4%, lower than the Tennessee average of 10.2%.
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