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 | Unicoi County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $112,500 | $235,307 | $242,182 |
| Price Trend (Annual %) | 47.0% | 10.0% | 8.2% |
| Median Gross Rent | $665 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 1.1% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Unicoi County is about 52% lower than in Tennessee. Rent is about 41% 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 Unicoi County, up about 47.0% and 1.1% a year respectively. Home prices are changing faster.
Median rent in Unicoi County rose about 10.5% between 2015 and 2023, from $602 to $665. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 2.2 yearly household incomes in Unicoi County.
Buying the median-priced home in Unicoi County costs roughly 14.1 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 Unicoi County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Unicoi County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $112,500 | $235,307 | $242,182 |
| Median Household Income | $50,520 | $67,486 | $78,145 |
| Price-to-Income Ratio | 2.2 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Unicoi County rose about 283.8%, while median household income rose about 46.2% 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 | Unicoi County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.0% | 60.0% | 58.2% |
| Rental Rate | 24.3% | 29.5% | 31.3% |
| Vacancy Rate | 10.7% | 10.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Unicoi County has a homeownership rate of 65.0%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 10.7%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Unicoi County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.22 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1976 | 1985 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Unicoi County was built around 1976. On average, 2.2 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 Unicoi County, Tennessee.
What is the median home price in Unicoi County, Tennessee?
The median home price in Unicoi County, Tennessee is $112,500, lower than the Tennessee average of $235,307.
What is the average home price in Unicoi 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 Unicoi County, Tennessee?
The median gross rent in Unicoi County, Tennessee is $665 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Unicoi County in 2020?
In 2020, the median gross rent in Unicoi County, Tennessee was $628 per month.
What is the price-to-rent ratio in Unicoi County, Tennessee?
The price-to-rent ratio in Unicoi County, Tennessee is about 14.1, meaning it would take roughly 14.1 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 Unicoi County.
Are home prices or rent rising faster in Unicoi County, Tennessee?
Both home prices and rent are rising in Unicoi County, up about 47.0% and 1.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Unicoi County, Tennessee?
65.0% of households in Unicoi County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Unicoi County, Tennessee?
The housing vacancy rate in Unicoi County, Tennessee is 10.7%, higher than the Tennessee average of 10.6%.