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 13,020, 4,495 total housing units (homes and apartments), and a median house value of $349,892, Manchester real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Manchester, accounting for 63.43% of the city's housing units. Other types of housing that are prevalent in Manchester include large apartment complexes or high rise apartments ( 14.87%), duplexes, homes converted to apartments or other small apartment buildings ( 11.94%), and a few mobile homes or trailers ( 6.04%).
The most prevalent building size and type in Manchester are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.90% owning and 50.10% renting.
There is a lot of housing in Manchester 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 Manchester built between 2000 and later ( 35.22%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.97%). There's also some housing in Manchester built before 1939 ( 3.26%).
In the last 10 years, Manchester has experienced some of the highest home appreciation rates of any community in the nation. Manchester real estate appreciated 154.41% over the last ten years, which is an average annual home appreciation rate of 9.79%, putting Manchester in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Manchester 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 Manchester that despite a nationwide downturn in the housing market, Manchester real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Manchester appreciation rates continue to be some of the highest in America, at 9.29%, which is higher than appreciation rates in 82.82% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Manchester. Manchester appreciation rates in the latest quarter were at 2.75%, which equates to an annual appreciation rate of 11.45%.
Relative to Tennessee, our data show that Manchester's latest annual appreciation rate is higher than 80% of the other cities and towns in Tennessee.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Manchester differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Manchester - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Manchester real estate investment or home purchase decisions.
$349,892
for Tennessee
for nation
4,495
$1,596 / per month