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 464 people, 84 houses or apartments, and a median cost of homes of $304,998, Leoma 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 Leoma, accounting for 100.00% of the town's housing units.
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Leoma. Owner-occupied housing accounts for 80.95% of Leoma's homes, and 79.37% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Leoma 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 Leoma built between 1940-1969 ( 26.98%). A lesser amount of the housing stock also hails from before 1939 ( 25.40%). There's also some housing in Leoma built between 2000 and later ( 13.49%).
Vacant housing appears to be an issue in Leoma. Fully 33.33% of the housing stock is classified as vacant. Left unchecked, vacant Leoma homes and apartments can be a drag on the real estate market, holding Leoma 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, Leoma has experienced some of the highest home appreciation rates of any community in the nation. Leoma real estate appreciated 156.66% over the last ten years, which is an average annual home appreciation rate of 9.88%, putting Leoma in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Leoma 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, Leoma's appreciation rate, at 6.46%, has been at or slightly above the national average. In the latest quarter, Leoma's appreciation rate has been 2.75%, which annualizes to a rate of 11.45%.
Relative to Tennessee, our data show that Leoma's latest annual appreciation rate is higher than 50% of the other cities and towns in Tennessee.
$304,998
for Tennessee
for nation
84
$1,593 / per month