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 2,415 people, 1,049 houses or apartments, and a median cost of homes of $229,731, house prices in Mountain City are solidly below the national average.
Single-family detached homes are the single most common housing type in Mountain City, accounting for 57.69% of the town's housing units. Other types of housing that are prevalent in Mountain City include large apartment complexes or high rise apartments ( 22.45%), duplexes, homes converted to apartments or other small apartment buildings ( 10.36%), and a few mobile homes or trailers ( 7.93%).
People in Mountain City primarily live in small (one, two or no bedroom) single-family detached homes. Mountain City has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Mountain City 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 Mountain City built between 1940-1969 ( 29.67%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.03%). There's also some housing in Mountain City built before 1939 ( 6.36%).
Vacant housing appears to be an issue in Mountain City. Fully 17.66% of the housing stock is classified as vacant. Left unchecked, vacant Mountain City homes and apartments can be a drag on the real estate market, holding Mountain City 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, Mountain City has experienced some of the highest home appreciation rates of any community in the nation. Mountain City real estate appreciated 135.35% over the last ten years, which is an average annual home appreciation rate of 8.94%, putting Mountain City in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Mountain City definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Mountain City's appreciation rate, at 5.99%, has been at or slightly above the national average. In the latest quarter, Mountain City's appreciation rate has been 2.75%, which annualizes to a rate of 11.45%.
Relative to Tennessee, our data show that Mountain City's latest annual appreciation rate is lower than 50% of the other cities and towns in Tennessee.
$229,731
for Tennessee
for nation
1,049
$882 / per month