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 11,292 people, 3,826 houses or apartments, and a median cost of homes of $303,325, Lenoir City 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 Lenoir City, accounting for 69.84% of the city's housing units. Other types of housing that are prevalent in Lenoir City include large apartment complexes or high rise apartments ( 15.71%), row houses and other attached homes ( 6.51%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.64%).
The most prevalent building size and type in Lenoir City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.21% owning and 38.79% renting.
Lenoir City homes and real estate are some of the newest in America. 33.37% of Lenoir City's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Lenoir City real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 28.24%), and between 1940-1969 ( 23.28%). There's also some housing in Lenoir City built before 1939 ( 15.11%).
Vacant housing appears to be an issue in Lenoir City. Fully 10.40% of the housing stock is classified as vacant. Left unchecked, vacant Lenoir City homes and apartments can be a drag on the real estate market, holding Lenoir City 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, Lenoir City has experienced some of the highest home appreciation rates of any community in the nation. Lenoir City real estate appreciated 117.92% over the last ten years, which is an average annual home appreciation rate of 8.10%, putting Lenoir City in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lenoir City 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, Lenoir City's appreciation rate, at 6.23%, has been at or slightly above the national average. In the latest quarter, Lenoir City's appreciation rate has been 1.91%, which annualizes to a rate of 7.87%.
Relative to Tennessee, our data show that Lenoir City's latest annual appreciation rate is higher than 50% of the other cities and towns in Tennessee.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lenoir City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lenoir City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lenoir City real estate investment or home purchase decisions.
$303,325
for Tennessee
for nation
3,826
$1,777 / per month