Wayne County, Tennessee Housing Market Prices
Wayne 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 92% below the Tennessee median Among the top 5 cheapest counties in Tennessee$19,832
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Median rent 48% below the Tennessee median Among the top 5 cheapest counties in Tennessee$618
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Wayne County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $19,832 | $255,786 | $248,835 |
| Price Trend (Annual %) | -10.3% | 9.9% | 7.5% |
| Median Gross Rent | $618 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 2.7% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wayne County is about 92% lower than in Tennessee. Rent is about 48% lower than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Wayne County: home prices fell about 10.3% a year while rent rose about 2.7% a year. That is an unusual pattern worth watching.
Median rent in Wayne County rose about 31.0% between 2015 and 2024, from $472 to $618. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 0.4 yearly household incomes in Wayne County.
Buying the median-priced home in Wayne County costs roughly 2.7 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 Wayne County. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Wayne County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $19,832 | $255,786 | $248,835 |
| Median Household Income | $51,543 | $69,901 | $80,455 |
| Price-to-Income Ratio | 0.4 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Wayne County fell about 85.1%, while median household income rose about 55.3% 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 | Wayne County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.5% | 60.1% | 58.5% |
| Rental Rate | 16.4% | 29.7% | 31.2% |
| Vacancy Rate | 17.0% | 10.2% | 10.2% |
| Median Tenure (years) | 19.0 | 14.0 | 15.0 |
| Median Year Moved In | 2007 | 2012 | 2011 |
Wayne County has a homeownership rate of 66.5%, higher than the Tennessee average of 60.1%. Its housing vacancy rate is 17.0%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Wayne County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1982 | 1986 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Wayne County was built around 1982. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 19.0 years on average.
Wayne County, TN Housing Compared With Nearby Counties
Wayne County, TN is the 3rd largest of the 4 counties compared here, 16,168 residents against a local median of 45,385. The measure that sets Wayne County, TN apart most is median home price: $19,832, 81% below the local median of $104,427.
Median rent tells the same story from another angle: $618 against a local median of $763, 19% below it. The counties themselves spread $241,487 on median home price, so Wayne County, TN sits at one end of an already wide local range rather than apart from it. Wayne County, TN has the 3rd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Wayne County, TN | 16,168 | $19,832 #3/4 | $618 #4/4 | 80.2% #1/4 |
| Lauderdale County, AL | 95,537 | $260,000 | $838 | 68.9% |
| Lawrence County, TN | 45,385 | $104,427 | $763 | 77.6% |
| Perry County, TN | 8,697 | $18,513 | $758 | 73.8% |
Frequently Asked Questions
Common questions about the housing market in Wayne County, Tennessee.
What is the median home price in Wayne County, Tennessee?
The median home price in Wayne County, Tennessee is $19,832, lower than the Tennessee average of $255,786.
What is the average home price in Wayne County, Tennessee?
The typical home price in Wayne County, Tennessee, reported as the median sale price, is $19,832. 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 Wayne County, Tennessee?
The median gross rent in Wayne County, Tennessee is $618 per month, lower than the Tennessee average of $1,188.
What was the median gross rent in Wayne County in 2020?
In 2020, the median gross rent in Wayne County, Tennessee was $516 per month.
What is the price-to-rent ratio in Wayne County, Tennessee?
The price-to-rent ratio in Wayne County, Tennessee is about 2.7, meaning it would take roughly 2.7 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 Wayne County.
Are home prices or rent rising faster in Wayne County, Tennessee?
Home prices and rent are moving in opposite directions in Wayne County: home prices fell about 10.3% a year while rent rose about 2.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Wayne County, Tennessee?
66.5% of households in Wayne County, Tennessee own their home, higher than the Tennessee average of 60.1%.
What is the vacancy rate in Wayne County, Tennessee?
The housing vacancy rate in Wayne County, Tennessee is 17.0%, higher than the Tennessee average of 10.2%.
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