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 a population of 5,538, 2,239 total housing units (homes and apartments), and a median house value of $196,671, house prices in Rockwood are solidly below the national average.
Single-family detached homes are the single most common housing type in Rockwood, accounting for 69.53% of the city's housing units. Other types of housing that are prevalent in Rockwood include large apartment complexes or high rise apartments ( 16.78%), mobile homes or trailers ( 6.72%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.36%).
People in Rockwood primarily live in small (one, two or no bedroom) single-family detached homes. Rockwood has a mixture of owner-occupied and renter-occupied housing.
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. Rockwood's housing was primarily built during this period, from the '40s through the '60s. A full 34.40% of the city's housing hails from this era. Other housing ages represented in Rockwood include homes built between 1970-1999 ( 33.41%) and housing constructed before 1939 ( 24.08%). There's also some housing in Rockwood built between 2000 and later ( 8.11%).
Vacant housing appears to be an issue in Rockwood. Fully 17.80% of the housing stock is classified as vacant. Left unchecked, vacant Rockwood homes and apartments can be a drag on the real estate market, holding Rockwood 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, Rockwood has experienced some of the highest home appreciation rates of any community in the nation. Rockwood real estate appreciated 139.03% over the last ten years, which is an average annual home appreciation rate of 9.11%, putting Rockwood in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Rockwood 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 Rockwood that despite a nationwide downturn in the housing market, Rockwood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rockwood appreciation rates continue to be some of the highest in America, at 12.57%, which is higher than appreciation rates in 94.72% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rockwood. Rockwood appreciation rates in the latest quarter were at 1.91%, which equates to an annual appreciation rate of 7.87%.
Relative to Tennessee, our data show that Rockwood's latest annual appreciation rate is higher than 90% of the other cities and towns in Tennessee.
$196,671
for Tennessee
for nation
2,239
$1,376 / per month