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 3,027 people, 1,116 houses or apartments, and a median cost of homes of $266,397, Bean Station 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 Bean Station, accounting for 73.99% of the city's housing units. Other types of housing that are prevalent in Bean Station include mobile homes or trailers ( 24.29%), large apartment complexes or high rise apartments ( 1.71%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bean Station. Owner-occupied housing accounts for 83.51% of Bean Station's homes, and 67.51% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Bean Station 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 Bean Station built between 2000 and later ( 25.48%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.13%). There's also some housing in Bean Station built before 1939 ( 2.91%).
Vacant housing appears to be an issue in Bean Station. Fully 16.84% of the housing stock is classified as vacant. Left unchecked, vacant Bean Station homes and apartments can be a drag on the real estate market, holding Bean Station 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.
In the last 10 years, Bean Station has experienced some of the highest home appreciation rates of any community in the nation. Bean Station real estate appreciated 161.69% over the last ten years, which is an average annual home appreciation rate of 10.10%, putting Bean Station in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bean Station definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Bean Station that despite a nationwide downturn in the housing market, Bean Station real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bean Station appreciation rates continue to be some of the highest in America, at 21.84%, which is higher than appreciation rates in 99.66% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bean Station. Bean Station appreciation rates in the latest quarter were at 7.42%, which equates to an annual appreciation rate of 33.15%.
Importantly, this makes Bean Station one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Tennessee, our data show that Bean Station's latest annual appreciation rate is higher than 90% of the other cities and towns in Tennessee.
$266,397
for Tennessee
for nation
1,116
$1,150 / per month