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 | Van Buren County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $258,333 | $235,307 | $242,182 |
| Price Trend (Annual %) | 114.2% | 10.0% | 8.2% |
| Median Gross Rent | $705 | $1,121 | $1,342 |
| Rent Trend (Annual %) | 7.9% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Van Buren County is about 10% higher than in Tennessee. Rent is about 37% 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 Van Buren County, up about 114.2% and 7.9% a year respectively. Home prices are changing faster.
Median rent in Van Buren County rose about 39.3% between 2015 and 2023, from $506 to $705. Over the same span, rent in Tennessee rose about 46.9%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in Van Buren County.
Buying the median-priced home in Van Buren County costs roughly 30.5 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 Van Buren County. The price-to-rent ratio in Tennessee is about 17.5.
| Metric | Van Buren County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $258,333 | $235,307 | $242,182 |
| Median Household Income | $60,456 | $67,486 | $78,145 |
| Price-to-Income Ratio | 4.3 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Van Buren County rose about 632.6%, while median household income rose about 98.2% 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 | Van Buren County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.6% | 60.0% | 58.2% |
| Rental Rate | 12.9% | 29.5% | 31.3% |
| Vacancy Rate | 15.5% | 10.6% | 10.6% |
| Median Tenure (years) | 19.0 | 14.0 | 15.0 |
| Median Year Moved In | 2007 | 2012 | 2011 |
Van Buren County has a homeownership rate of 71.6%, higher than the Tennessee average of 60.0%. Its housing vacancy rate is 15.5%, compared with 10.6% in Tennessee.
Housing Stock
| Metric | Van Buren County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.52 people | 2.47 people | 2.54 people |
| Median Structure Built Year | 1981 | 1985 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Van Buren County was built around 1981. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Van Buren County, Tennessee.
What is the median home price in Van Buren County, Tennessee?
The median home price in Van Buren County, Tennessee is $258,333, higher than the Tennessee average of $235,307.
What is the average home price in Van Buren 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 Van Buren County, Tennessee?
The median gross rent in Van Buren County, Tennessee is $705 per month, lower than the Tennessee average of $1,121.
What was the median gross rent in Van Buren County in 2020?
In 2020, the median gross rent in Van Buren County, Tennessee was $507 per month.
What is the price-to-rent ratio in Van Buren County, Tennessee?
The price-to-rent ratio in Van Buren County, Tennessee is about 30.5, meaning it would take roughly 30.5 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 Van Buren County.
Are home prices or rent rising faster in Van Buren County, Tennessee?
Both home prices and rent are rising in Van Buren County, up about 114.2% and 7.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Van Buren County, Tennessee?
71.6% of households in Van Buren County, Tennessee own their home, higher than the Tennessee average of 60.0%.
What is the vacancy rate in Van Buren County, Tennessee?
The housing vacancy rate in Van Buren County, Tennessee is 15.5%, higher than the Tennessee average of 10.6%.