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 6,451, 2,762 total housing units (homes and apartments), and a median house value of $279,164, Sweetwater 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 Sweetwater, accounting for 55.50% of the city's housing units. Other types of housing that are prevalent in Sweetwater include duplexes, homes converted to apartments or other small apartment buildings ( 19.74%), mobile homes or trailers ( 13.97%), and a few large apartment complexes or high rise apartments ( 7.32%).
The most prevalent building size and type in Sweetwater are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.10% owning and 49.90% renting.
There is a lot of housing in Sweetwater 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 Sweetwater built between 1940-1969 ( 21.89%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.54%). There's also some housing in Sweetwater built before 1939 ( 4.80%).
In the last 10 years, Sweetwater has experienced some of the highest home appreciation rates of any community in the nation. Sweetwater real estate appreciated 126.53% over the last ten years, which is an average annual home appreciation rate of 8.52%, putting Sweetwater in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Sweetwater 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, Sweetwater's appreciation rate, at 5.81%, has been at or slightly above the national average. In the latest quarter, Sweetwater's appreciation rate has been 2.75%, which annualizes to a rate of 11.45%.
Relative to Tennessee, our data show that Sweetwater's latest annual appreciation rate is lower than 50% of the other cities and towns in Tennessee.
$279,164
for Tennessee
for nation
2,762
$1,058 / per month