Red Boiling Springs, 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

Red Boiling Springs, TN Housing Market Trends

With a population of 1,132, 463 total housing units (homes and apartments), and a median house value of $128,403, house prices in Red Boiling Springs are solidly below the national average.

Single-family detached homes are the single most common housing type in Red Boiling Springs, accounting for 57.67% of the city's housing units. Other types of housing that are prevalent in Red Boiling Springs include duplexes, homes converted to apartments or other small apartment buildings ( 26.99%), large apartment complexes or high rise apartments ( 8.50%), and a few mobile homes or trailers ( 6.10%).

People in Red Boiling Springs primarily live in small (one, two or no bedroom) single-family detached homes. Red Boiling Springs has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Red Boiling Springs built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Red Boiling Springs built between 1940-1969 ( 28.28%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.69%). There's also some housing in Red Boiling Springs built before 1939 ( 8.13%).

Vacant housing appears to be an issue in Red Boiling Springs. Fully 14.42% of the housing stock is classified as vacant. Left unchecked, vacant Red Boiling Springs homes and apartments can be a drag on the real estate market, holding Red Boiling Springs 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.

Red Boiling Springs Home Appreciation Rates

In the last 10 years, Red Boiling Springs has experienced some of the highest home appreciation rates of any community in the nation. Red Boiling Springs real estate appreciated 63.33% over the last ten years, which is an average annual home appreciation rate of 5.03%, putting Red Boiling Springs in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Red Boiling Springs definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Red Boiling Springs's appreciation rate, at 6.25%, has been at or slightly above the national average. In the latest quarter, Red Boiling Springs's appreciation rate has been 2.01%, which annualizes to a rate of 8.30%.

Relative to Tennessee, our data show that Red Boiling Springs's latest annual appreciation rate is lower than 80% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$128,403

Red Boiling Springs, TN HOME PRICES

> $1,187,000
0.0%
0.0%
$890,001 - $1,187,000
0.8%
0.8%
$594,001 - $890,000
1.1%
1.1%
$475,001 - $594,000
0.2%
0.2%
$356,001 - $475,000
6.7%
6.7%
$237,001 - $356,000
9.4%
9.4%
$119,001 - $237,000
39.8%
39.8%
$59,001 - $119,000
26.8%
26.8%
$0 - $59,000
15.2%
15.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for TN

Value Relative To Nation

Number Of Homes And Apartments:
463

Red Boiling Springs 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
137.61% 4.21%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$805 / per month

Homeownership Rate

Owners
38.6%
38.6%
Renters
61.4%
61.4%
Vacant
14.4%
14.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.7%
8.7%
1970 - 1999
54.9%
54.9%
1940 - 1969
28.3%
28.3%
1939 or Older
8.1%
8.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
57.7%
57.7%
Townhomes
0.7%
0.7%
Small Apt. Buildings
27.0%
27.0%
Apt. Complexes
8.5%
8.5%
Mobile Homes
6.1%
6.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.4%
5.4%
1 Bedroom
7.8%
7.8%
2 Bedrooms
36.2%
36.2%
3 Bedrooms
36.6%
36.6%
4 Bedrooms
6.3%
6.3%
5 or more bedrooms
7.8%
7.8%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Red Boiling Springs

Popular Communities Near Red Boiling Springs, TN

Zip Codes in Red Boiling Springs, TN