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 Type | 1.1% |
| One Bedroom | 9.3% |
| Two Bedrooms | 29.4% |
| Three Bedrooms | 45.2% |
| Four Bedrooms | 12.4% |
| Five Bedrooms or more | 2.5% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.58 |
| Median year structure was built | 1976 |
| Median Value of occupied units | $93,000 |
| Median Price asked for vacant units | $83,300 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.24 |
| Median year structure was built | 1974 |
| Median Monthly Rent asked for vacant units | $391 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.1% |
| Second Mortgage | 6.7% |
| Home Equity Loan | 5.9% |
| Simple Mortgage | 53.1% |
| Debt Free | 34.0% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17.6% |
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