Morristown, TN has an impressive housing median value of $215,900 which is significantly less than the US house median value of $338,100. The US 1 year house appreciation is 8.27%, however in Morristown it is much higher at 21.68% - indicating a positive trend in the local market. It's no surprise then that it's become a popular area to buy or rent property as the appreciation rate is so high and comparatively cheaper than other areas in the US.
The median home cost in Morristown is $215,900. Home appreciation the last 10 years has been 114.6%. Home Appreciation in Morristown is up 27.0%.
Average Age of Homes
- The median age of Morristown real estate is 45 years old
The Rental Market in Morristown
- Renters make up 41.8% of the Morristown population
- 2.8% of houses and apartments in Morristown, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.