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Tennessee Real Estate


According to census data in the year 2000 there were 2,439,443 housing units in Tennessee. This represents a 20.4% from 2,026,067 in 1990.

Of those housing units, 1,551,283 were located in either urbanized areas or urban clusters, and 888,160 were located in what is classified as a rural area.

Homeownership rate in Tennessee is about 69.9%. Tennessee's vacancy rate, including seasonal lodging, is about 8.5%. Average household size is 2.48 people.

The majority of houses, apartments or condos in Tennessee were built after 1975.

Statistics

Housing Size

Housing Units by Size
Studio Type1.1%
One Bedroom9.3%
Two Bedrooms29.4%
Three Bedrooms45.2%
Four Bedrooms12.4%
Five Bedrooms or more2.5%
As % of Housing Units
           

Owned Homes, Apartments and Condos

Average Household Size2.58
Median year structure was built1976
Median Value of occupied units$93,000
Median Price asked for vacant units$83,300

Rented Homes, Apartments and Condos

Average Household Size2.24
Median year structure was built1974
Median Monthly Rent asked for vacant units$391

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.1%
Second Mortgage6.7%
Home Equity Loan5.9%
Simple Mortgage53.1%
Debt Free34.0%
As % of Housing Units
         
Median part of Monthly Household Income dedicated to covering home ownership costs17.6%

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