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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Ooltewah, TN Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Ooltewah, TN Housing Market Trends

With 684 people, 211 houses or apartments, and a median cost of homes of $557,708, Ooltewah house prices are not only among the most expensive in Tennessee, Ooltewah real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Ooltewah, accounting for 77.25% of the town's housing units. Other types of housing that are prevalent in Ooltewah include duplexes, homes converted to apartments or other small apartment buildings ( 12.32%), mobile homes or trailers ( 10.43%).

Dwellings in Ooltewah tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 51.66% of the homes in Ooltewah have two or fewer bedrooms.

There is a lot of housing in Ooltewah 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 Ooltewah built between 1940-1969 ( 23.22%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.43%). There's also some housing in Ooltewah built before 1939 ( 6.64%).

Ooltewah Home Appreciation Rates

In the last 10 years, Ooltewah has experienced some of the highest home appreciation rates of any community in the nation. Ooltewah real estate appreciated 112.06% over the last ten years, which is an average annual home appreciation rate of 7.81%, putting Ooltewah in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Ooltewah 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 Ooltewah that despite a nationwide downturn in the housing market, Ooltewah real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ooltewah appreciation rates continue to be some of the highest in America, at 8.06%, which is higher than appreciation rates in 87.25% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ooltewah. Ooltewah appreciation rates in the latest quarter were at 2.70%, which equates to an annual appreciation rate of 11.26%.

Importantly, this makes Ooltewah one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Tennessee, our data show that Ooltewah'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 town. Individual neighborhoods within Ooltewah differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ooltewah - 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 Ooltewah real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$557,708

Ooltewah, TN Home Prices
> $1,475,000
$1,106,001 - $1,475,000
$737,001 - $1,106,000
$590,001 - $737,000
$442,001 - $590,000
$295,001 - $442,000
$148,001 - $295,000
$74,001 - $148,000
$0 - $74,000
1.1%
1.1%
5.3%
5.3%
14.5%
14.5%
12.7%
12.7%
30.6%
30.6%
30.4%
30.4%
3.3%
3.3%
0.5%
0.5%
1.7%
1.7%
0% 100.0%
% of Homes
Very High

for Tennessee

Very High

for nation

Number of Homes And Apartments:

211

Ooltewah Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,151 / per month

Homeownership Rate

Owners
Renters
68.2%
68.2%
31.8%
31.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
0.0%
0.0%
100.0%
100.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
10.4%
10.4%
59.7%
59.7%
23.2%
23.2%
6.6%
6.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
77.3%
77.3%
0.0%
0.0%
12.3%
12.3%
0.0%
0.0%
10.4%
10.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
0.0%
0.0%
51.7%
51.7%
48.3%
48.3%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes