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 4,453, 1,783 total housing units (homes and apartments), and a median house value of $136,910, house prices in Selmer are some of the most affordable in Tennessee as well as the nation.
Single-family detached homes are the single most common housing type in Selmer, accounting for 85.98% of the town's housing units. Other types of housing that are prevalent in Selmer include mobile homes or trailers ( 9.24%), duplexes, homes converted to apartments or other small apartment buildings ( 3.05%), and a few row houses and other attached homes ( 1.14%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Selmer. Owner-occupied housing accounts for 67.94% of Selmer's homes, and 60.26% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Selmer 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 Selmer built between 1940-1969 ( 19.25%). A lesser amount of the housing stock also hails from between 2000 and later ( 6.51%). There's also some housing in Selmer built before 1939 ( 4.10%).
Vacant housing appears to be an issue in Selmer. Fully 18.84% of the housing stock is classified as vacant. Left unchecked, vacant Selmer homes and apartments can be a drag on the real estate market, holding Selmer 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.
Real estate appreciation rates in Selmer's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.25% during the period.
Over the last year, Selmer appreciation rates have trailed the rest of the nation. In the last twelve months, Selmer's appreciation rate has been 3.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Selmer were at 2.75%, which equates to an annual appreciation rate of 11.45%.
Relative to Tennessee, our data show that Selmer's latest annual appreciation rate is lower than 80% of the other cities and towns in Tennessee.
$136,910
for Tennessee
for nation
1,783
$1,106 / per month