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 3,354 people, 1,525 houses or apartments, and a median cost of homes of $306,988, Oliver Springs 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 Oliver Springs, accounting for 74.23% of the town's housing units. Other types of housing that are prevalent in Oliver Springs include duplexes, homes converted to apartments or other small apartment buildings ( 11.08%), large apartment complexes or high rise apartments ( 7.61%), and a few mobile homes or trailers ( 7.08%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Oliver Springs. Owner-occupied housing accounts for 71.48% of Oliver Springs's homes, and 55.61% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Oliver Springs 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 Oliver Springs built between 1940-1969 ( 34.10%). A lesser amount of the housing stock also hails from before 1939 ( 5.31%). There's also some housing in Oliver Springs built between 2000 and later ( 2.43%).
In the last 10 years, Oliver Springs has experienced some of the highest home appreciation rates of any community in the nation. Oliver Springs real estate appreciated 142.68% over the last ten years, which is an average annual home appreciation rate of 9.27%, putting Oliver Springs in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Oliver Springs 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 Oliver Springs that despite a nationwide downturn in the housing market, Oliver Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Oliver Springs appreciation rates continue to be some of the highest in America, at 10.92%, which is higher than appreciation rates in 90.86% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Oliver Springs. Oliver Springs appreciation rates in the latest quarter were at 1.91%, which equates to an annual appreciation rate of 7.87%.
Relative to Tennessee, our data show that Oliver Springs's latest annual appreciation rate is higher than 80% of the other cities and towns in Tennessee.
$306,988
for Tennessee
for nation
1,525
$1,795 / per month