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 11,421, 1,922 total housing units (homes and apartments), and a median house value of $145,277, house prices in Tennessee Colony are some of the most affordable in Texas as well as the nation.
Single-family detached homes are the single most common housing type in Tennessee Colony, accounting for 54.98% of the town's housing units. Other types of housing that are prevalent in Tennessee Colony include mobile homes or trailers ( 35.94%), duplexes, homes converted to apartments or other small apartment buildings ( 1.99%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Tennessee Colony. Owner-occupied housing accounts for 74.71% of Tennessee Colony's homes, and 71.18% have either three or four bedrooms, which is average sized relative to America.
Tennessee Colony homes and real estate are some of the newest in America. 43.93% of Tennessee Colony's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Tennessee Colony real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 32.98%), and between 1940-1969 ( 17.99%). There's also some housing in Tennessee Colony built before 1939 ( 5.10%).
Vacant housing appears to be an issue in Tennessee Colony. Fully 25.16% of the housing stock is classified as vacant. Left unchecked, vacant Tennessee Colony homes and apartments can be a drag on the real estate market, holding Tennessee Colony 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.
Appreciation rates for homes in Tennessee Colony have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 98.51%, which ranks in the top 40% nationwide. This equates to an annual average Tennessee Colony house appreciation rate of 7.10%.
NeighborhoodScout's data show that during the latest twelve months, Tennessee Colony's appreciation rate, at 5.68%, has been at or slightly above the national average. In the latest quarter, Tennessee Colony's appreciation rate has been 1.51%, which annualizes to a rate of 6.17%.
Relative to Texas, our data show that Tennessee Colony's latest annual appreciation rate is higher than 80% of the other cities and towns in Texas.
$145,277
for Texas
for nation
1,922
$1,465 / per month