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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



East Ridge, TN Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

East Ridge, TN Housing Market Trends

With 21,936 people, 9,558 houses or apartments, and a median cost of homes of $243,204, East Ridge real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in East Ridge, accounting for 68.31% of the city's housing units. Other types of housing that are prevalent in East Ridge include large apartment complexes or high rise apartments ( 13.46%), duplexes, homes converted to apartments or other small apartment buildings ( 12.53%), and a few row houses and other attached homes ( 5.00%).

The most prevalent building size and type in East Ridge are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.93% owning and 40.07% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. East Ridge's housing was primarily built during this period, from the '40s through the '60s. A full 55.35% of the city's housing hails from this era. Other housing ages represented in East Ridge include homes built between 1970-1999 ( 32.14%) and housing constructed between 2000 and later ( 8.54%). There's also some housing in East Ridge built before 1939 ( 3.97%).

East Ridge Home Appreciation Rates

In the last 10 years, East Ridge has experienced some of the highest home appreciation rates of any community in the nation. East Ridge real estate appreciated 130.88% over the last ten years, which is an average annual home appreciation rate of 8.73%, putting East Ridge in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, East Ridge definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in East Ridge that despite a nationwide downturn in the housing market, East Ridge real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Ridge appreciation rates continue to be some of the highest in America, at 8.06%, which is higher than appreciation rates in 87.32% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in East Ridge. East Ridge appreciation rates in the latest quarter were at 2.70%, which equates to an annual appreciation rate of 11.26%.

Importantly, this makes East Ridge one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Tennessee, our data show that East Ridge's latest annual appreciation rate is higher than 80% of the other cities and towns in Tennessee.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within East Ridge differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in East Ridge - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best East Ridge real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$243,204

East Ridge, TN Home Prices
> $1,446,000
$1,084,001 - $1,446,000
$723,001 - $1,084,000
$578,001 - $723,000
$434,001 - $578,000
$289,001 - $434,000
$145,001 - $289,000
$72,001 - $145,000
$0 - $72,000
0.5%
0.5%
0.2%
0.2%
0.5%
0.5%
1.1%
1.1%
4.0%
4.0%
21.6%
21.6%
59.8%
59.8%
10.9%
10.9%
1.6%
1.6%
0% 100.0%
% of Homes
Average

for Tennessee

Average

for nation

Number of Homes And Apartments:

9,558

East Ridge Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,915 / per month

Homeownership Rate

Owners
Renters
59.9%
59.9%
40.1%
40.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.9%
7.9%
92.1%
92.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.5%
8.5%
32.1%
32.1%
55.4%
55.4%
4.0%
4.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
68.3%
68.3%
5.0%
5.0%
12.5%
12.5%
13.5%
13.5%
0.7%
0.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
10.6%
10.6%
34.2%
34.2%
40.0%
40.0%
10.6%
10.6%
2.7%
2.7%
0% 100.0%
% of Homes