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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,440 people, 611 houses or apartments, and a median cost of homes of $284,584, Benton 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 Benton, accounting for 52.92% of the town's housing units. Other types of housing that are prevalent in Benton include mobile homes or trailers ( 26.17%), large apartment complexes or high rise apartments ( 13.80%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.11%).
The most prevalent building size and type in Benton are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 51.32% owning and 48.68% renting.
There is a lot of housing in Benton 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 Benton built between 2000 and later ( 31.86%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.37%). There's also some housing in Benton built before 1939 ( 5.69%).
Vacant housing appears to be an issue in Benton. Fully 13.09% of the housing stock is classified as vacant. Left unchecked, vacant Benton homes and apartments can be a drag on the real estate market, holding Benton 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.
In the last 10 years, Benton has experienced some of the highest home appreciation rates of any community in the nation. Benton real estate appreciated 134.41% over the last ten years, which is an average annual home appreciation rate of 8.89%, putting Benton in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Benton 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 Benton that despite a nationwide downturn in the housing market, Benton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Benton appreciation rates continue to be some of the highest in America, at 16.36%, which is higher than appreciation rates in 98.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Benton. Benton appreciation rates in the latest quarter were at 1.75%, which equates to an annual appreciation rate of 7.17%.
Relative to Tennessee, our data show that Benton's latest annual appreciation rate is higher than 90% of the other cities and towns in Tennessee.
$284,584
for Tennessee
for nation
611
$1,293 / per month