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 6,094 people, 2,542 houses or apartments, and a median cost of homes of $239,154, house prices in Harriman are solidly below the national average.
Single-family detached homes are the single most common housing type in Harriman, accounting for 76.22% of the city's housing units. Other types of housing that are prevalent in Harriman include large apartment complexes or high rise apartments ( 10.27%), duplexes, homes converted to apartments or other small apartment buildings ( 7.96%), and a few row houses and other attached homes ( 2.94%).
The most prevalent building size and type in Harriman are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.33% owning and 37.67% 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. Harriman's housing was primarily built during this period, from the '40s through the '60s. A full 40.62% of the city's housing hails from this era. Other housing ages represented in Harriman include homes built between 1970-1999 ( 38.80%) and housing constructed before 1939 ( 17.47%). There's also some housing in Harriman built between 2000 and later ( 3.10%).
Vacant housing appears to be an issue in Harriman. Fully 16.05% of the housing stock is classified as vacant. Left unchecked, vacant Harriman homes and apartments can be a drag on the real estate market, holding Harriman 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, Harriman has experienced some of the highest home appreciation rates of any community in the nation. Harriman real estate appreciated 129.59% over the last ten years, which is an average annual home appreciation rate of 8.67%, putting Harriman in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Harriman 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 Harriman that despite a nationwide downturn in the housing market, Harriman real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Harriman appreciation rates continue to be some of the highest in America, at 10.48%, which is higher than appreciation rates in 95.88% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Harriman. Harriman appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.66%.
Relative to Tennessee, our data show that Harriman's latest annual appreciation rate is higher than 90% of the other cities and towns in Tennessee.
$239,154
for Tennessee
for nation
2,542
$1,386 / per month