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 | Trousdale County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $8,610 | $235,307 | $242,182 |
| Price Trend (Annual %) | 9.0% | 10.0% | 8.2% |
| Median Gross Rent | $805 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 5.0% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Trousdale County is about 96% lower than in Tennessee. Rent is about 28% 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 Trousdale County, up about 9.0% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Trousdale County rose about 35.7% between 2015 and 2023, from $593 to $805. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 0.1 yearly household incomes in Trousdale County.
Buying the median-priced home in Trousdale County costs roughly 0.9 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 Trousdale County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Trousdale County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $8,610 | $235,307 | $242,182 |
| Median Household Income | $60,558 | $67,486 | $78,145 |
| Price-to-Income Ratio | 0.1 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Trousdale County fell about 89.8%, while median household income rose about 35.0% between 2009 and 2023 — 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 | Trousdale County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.5% | 60.0% | 58.2% |
| Rental Rate | 24.1% | 29.5% | 31.3% |
| Vacancy Rate | 5.4% | 10.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Trousdale County has a homeownership rate of 70.5%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 5.4%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Trousdale County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.52 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1988 | 1985 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Trousdale County was built around 1988. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Trousdale County, Tennessee.
What is the median home price in Trousdale County, Tennessee?
The median home price in Trousdale County, Tennessee is $8,610, lower than the Tennessee average of $235,307.
What is the average home price in Trousdale 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 Trousdale County, Tennessee?
The median gross rent in Trousdale County, Tennessee is $805 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Trousdale County in 2020?
In 2020, the median gross rent in Trousdale County, Tennessee was $793 per month.
What is the price-to-rent ratio in Trousdale County, Tennessee?
The price-to-rent ratio in Trousdale County, Tennessee is about 0.9, meaning it would take roughly 0.9 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 Trousdale County.
Are home prices or rent rising faster in Trousdale County, Tennessee?
Both home prices and rent are rising in Trousdale County, up about 9.0% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Trousdale County, Tennessee?
70.5% of households in Trousdale County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Trousdale County, Tennessee?
The housing vacancy rate in Trousdale County, Tennessee is 5.4%, lower than the Tennessee average of 10.6%.