Elizabethton, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Elizabethton, TN Housing Market Trends

With 13,509 people, 5,448 houses or apartments, and a median cost of homes of $177,285, Elizabethton 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 Elizabethton, accounting for 67.45% of the city's housing units. Other types of housing that are prevalent in Elizabethton include large apartment complexes or high rise apartments ( 18.46%), duplexes, homes converted to apartments or other small apartment buildings ( 8.74%), and a few mobile homes or trailers ( 3.28%).

The most prevalent building size and type in Elizabethton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.23% owning and 48.77% 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. Elizabethton's housing was primarily built during this period, from the '40s through the '60s. A full 37.32% of the city's housing hails from this era. Other housing ages represented in Elizabethton include homes built between 1970-1999 ( 34.01%) and housing constructed before 1939 ( 18.42%). There's also some housing in Elizabethton built between 2000 and later ( 10.24%).

Vacant housing appears to be an issue in Elizabethton. Fully 10.31% of the housing stock is classified as vacant. Left unchecked, vacant Elizabethton homes and apartments can be a drag on the real estate market, holding Elizabethton real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Elizabethton Home Appreciation Rates

Real estate appreciation rates in Elizabethton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.57% during the period.

NeighborhoodScout's data show that during the latest twelve months, Elizabethton's appreciation rate, at 5.78%, has been at or slightly above the national average. In the latest quarter, Elizabethton's appreciation rate has been 1.50%, which annualizes to a rate of 6.12%.

Notably, Elizabethton's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Tennessee, our data show that Elizabethton's latest annual appreciation rate is lower than 90% 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 Elizabethton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Elizabethton - 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 Elizabethton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$177,285

Elizabethton, TN HOME PRICES

> $1,204,000
1.0%
1.0%
$903,001 - $1,204,000
0.0%
0.0%
$602,001 - $903,000
0.0%
0.0%
$481,001 - $602,000
0.5%
0.5%
$361,001 - $481,000
3.1%
3.1%
$241,001 - $361,000
14.8%
14.8%
$121,001 - $241,000
48.8%
48.8%
$60,001 - $121,000
25.0%
25.0%
$0 - $60,000
6.7%
6.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for TN

Value Relative To Nation

Number Of Homes And Apartments:
5,448

Elizabethton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
74.16% 2.68%
5
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$782 / per month

Homeownership Rate

Owners
51.2%
51.2%
Renters
48.8%
48.8%
Vacant
10.3%
10.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.2%
10.2%
1970 - 1999
34.0%
34.0%
1940 - 1969
37.3%
37.3%
1939 or Older
18.4%
18.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.5%
67.5%
Townhomes
2.1%
2.1%
Small Apt. Buildings
8.7%
8.7%
Apt. Complexes
18.5%
18.5%
Mobile Homes
3.3%
3.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.2%
1.2%
1 Bedroom
12.7%
12.7%
2 Bedrooms
32.8%
32.8%
3 Bedrooms
39.2%
39.2%
4 Bedrooms
11.7%
11.7%
5 or more bedrooms
2.3%
2.3%
0.0% 100.0%
% OF HOMES