Morristown, TN

Population: 29,617
Average annual home appreciation rate: -9.05%
Total of homes for sale in this market:
Median home price: $92,204
Median Rent: $438 per room
Home price range: 38.56% of homes are between $47,001 – $93,000
Median sales price:
Number of homes:
Median foreclosure sales price:
Foreclosure discount:
Most common home type: 60.84% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 9.91%
Number of renters: 42.70%
Number of owner occupied: 57.31%
Number people living below poverty level: 24.75%
Unemployment rate: 10.80%
Is this area perfect for real estate deals going on right now? There is always opportunity for savvy real estate investors in a market that has been ‘down’ for some time. With the home prices this low, high poverty/unemployment rates, higher than national average rental rates…this could be the ‘perfect storm’ for buy and hold rental properties in the Morristown market.

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