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 | Stewart County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $193,518 | $235,307 | $242,182 |
| Price Trend (Annual %) | 19.1% | 10.0% | 8.2% |
| Median Gross Rent | $837 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Stewart County is about 18% lower than in Tennessee. Rent is about 25% 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 Stewart County, up about 19.1% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Stewart County rose about 37.4% between 2015 and 2023, from $609 to $837. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Stewart County.
Buying the median-priced home in Stewart County costs roughly 19.3 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Stewart County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Stewart County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $193,518 | $235,307 | $242,182 |
| Median Household Income | $62,949 | $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 Stewart County rose about 183.0%, while median household income rose about 65.9% 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 | Stewart County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.5% | 60.0% | 58.2% |
| Rental Rate | 12.7% | 29.5% | 31.3% |
| Vacancy Rate | 22.8% | 10.6% | 10.6% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Stewart County has a homeownership rate of 64.5%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 22.8%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Stewart County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.65 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1988 | 1985 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Stewart County was built around 1988. On average, 2.7 people live in a home with about 5.4 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Stewart County, Tennessee.
What is the median home price in Stewart County, Tennessee?
The median home price in Stewart County, Tennessee is $193,518, lower than the Tennessee average of $235,307.
What is the average home price in Stewart 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 Stewart County, Tennessee?
The median gross rent in Stewart County, Tennessee is $837 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Stewart County in 2020?
In 2020, the median gross rent in Stewart County, Tennessee was $674 per month.
What is the price-to-rent ratio in Stewart County, Tennessee?
The price-to-rent ratio in Stewart County, Tennessee is about 19.3, meaning it would take roughly 19.3 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Stewart County.
Are home prices or rent rising faster in Stewart County, Tennessee?
Both home prices and rent are rising in Stewart County, up about 19.1% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Stewart County, Tennessee?
64.5% of households in Stewart County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Stewart County, Tennessee?
The housing vacancy rate in Stewart County, Tennessee is 22.8%, higher than the Tennessee average of 10.6%.