Tennessee housing market
Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$330,844+0.6% YoY · prices are rising
Market right nowBuyer's marketMore homes for sale than last year, 23% have cut their price
Income needed to buy, per year$71,720About 1.0× the local median income ($72,007): affordable for a typical household
Days on market69 daysAbout the same pace as a year ago
Next 12 months+0.7%Zillow expects prices to rise slightly
The typical home in Tennessee is worth $330,844, up 0.6% from a year ago. That is well above what local incomes have historically supported: fair value is about $294,203, so the area is 12.5% overvalued. It is a buyer's market: homes take about 69 days to sell, listings are up 10% from a year ago, 23% of listings have had a price cut. Zillow expects prices to rise about 0.7% over the next year. A household needs about $71,720 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $72,007. In the latest IRS figures, 43,338 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
| Typical home value | $330,844 |
| Change in 1 year | +0.6% |
| Overvalued % | +12.5% |
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| Fair home value | $294,203 |
| Change in 5 years | +23.4% |
| Zillow forecast, next 12 months | +0.7% |
| Home value to income | 4.6× |
| Monthly mortgage payment (20% down) | $1,793 |
| Income needed to afford it | $71,720 |
| Property tax rate | 0.50% |
Rent and investing
| HUD Fair Market Rent, 2 bedrooms | $1,384 |
Market activity
| Listings vs a year ago | +10.2% |
| Days on market | 69 |
| Listings with a price cut | 23.2% |
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| Homes for sale | 37,486 |
| Pending sales per 100 listings | 29 |
| Asking price per sq ft | $220 |
People and jobs
| Median household income | $72,007 |
| Population change (1 year) | +0.9% |
| Unemployment rate | 4.7% |
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| Population | 7,315,076 |
| Income adjusted for cost of living | $78,354 |
| Net moves in (IRS) | +43,338 |
| Cost of living (US = 100) | 91.9 |
Schools, risk and environment
| FEMA hazard risk score (0 to 100) | 77.6 |
| Unhealthy air days a year | 2 |
| Flood risk score | 76.4 |
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| Wildfire risk score | 48.0 |
| Walkability (1 to 20) | 7.0 |
| Road, rail and air noise | 54 dB |
Questions people ask
- Is Tennessee overvalued?
- Home prices in Tennessee are well above what local incomes have historically supported: fair value is about $294,203, so the area is 12.5% overvalued.
- Is Tennessee a buyer's or seller's market?
- Tennessee is a buyer's market: homes take about 69 days to sell, listings are up 10% from a year ago, 23% of listings have had a price cut.
- Are home prices going down in Tennessee?
- Home values in Tennessee are up 0.6% over the last year. Zillow's forecast for the next 12 months is +0.7%.
- How much do you need to earn to buy a home in Tennessee?
- A household needs about $71,720 a year to afford the typical home in Tennessee at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $72,007.
Metro areas
Nashville-Davidson--Murfreesboro--Franklin, TNMemphis, TN-MS-ARKnoxville, TNChattanooga, TN-GAClarksville, TN-KYKingsport-Bristol, TN-VAJohnson City, TNJackson, TNCleveland, TNMorristown, TN
Counties
Anderson CountyBedford CountyBenton CountyBledsoe CountyBlount CountyBradley CountyCampbell CountyCannon CountyCarroll CountyCarter CountyCheatham CountyChester CountyClaiborne CountyClay CountyCocke CountyCoffee CountyCrockett CountyCumberland CountyDavidson CountyDecatur CountyDekalb CountyDickson CountyDyer CountyFayette CountyFentress CountyFranklin CountyGibson CountyGiles CountyGrainger CountyGreene CountyGrundy CountyHamblen CountyHamilton CountyHancock CountyHardeman CountyHardin CountyHawkins CountyHaywood CountyHenderson CountyHenry CountyHickman CountyHouston CountyHumphreys CountyJackson CountyJefferson CountyJohnson CountyKnox CountyLake CountyLauderdale CountyLawrence CountyLewis CountyLincoln CountyLoudon CountyMacon CountyMadison CountyMarion CountyMarshall CountyMaury CountyMcMinn CountyMcNairy CountyMeigs CountyMonroe CountyMontgomery CountyMoore CountyMorgan CountyObion CountyOverton CountyPerry CountyPickett CountyPolk CountyPutnam CountyRhea CountyRoane CountyRobertson CountyRutherford CountyScott CountySequatchie CountySevier CountyShelby CountySmith CountyStewart CountySullivan CountySumner CountyTipton CountyTrousdale CountyUnicoi CountyUnion CountyVan Buren CountyWarren CountyWashington CountyWayne CountyWeakley CountyWhite CountyWilliamson CountyWilson County