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 1,949 people, 1,012 houses or apartments, and a median cost of homes of $276,113, Spring City 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 Spring City, accounting for 72.93% of the town's housing units. Other types of housing that are prevalent in Spring City include duplexes, homes converted to apartments or other small apartment buildings ( 12.20%), mobile homes or trailers ( 8.55%), and a few large apartment complexes or high rise apartments ( 3.21%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Spring City. Owner-occupied housing accounts for 65.29% of Spring City's homes, and 56.10% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Spring 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 Spring City built between 1940-1969 ( 33.39%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.01%). There's also some housing in Spring City built before 1939 ( 7.84%).
Appreciation rates for homes in Spring City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 118.61%, which ranks in the top 30% nationwide. This equates to an annual average Spring City house appreciation rate of 8.14%.
Appreciation rates are so strong in Spring City that despite a nationwide downturn in the housing market, Spring City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Spring City appreciation rates continue to be some of the highest in America, at 16.34%, which is higher than appreciation rates in 90.29% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Spring City. Spring City appreciation rates in the latest quarter were at 4.21%, which equates to an annual appreciation rate of 17.91%.
Relative to Tennessee, our data show that Spring City's latest annual appreciation rate is higher than 80% of the other cities and towns in Tennessee.
$276,113
for Tennessee
for nation
1,012
$1,147 / per month