The housing in Spencer, TN (zip code 38585) is considerably more affordable than the US median housing value of $338,100. At a median value of $143,900, the cost of buying a home in Spencer is significantly lower. In addition, the appreciation rate for houses in this area has been much higher than the national average over the past year. Average house appreciation in Spencer was 19.24%, much higher than the 8.27% increase seen nationally. This means that buying and investing in a home here is potentially even more lucrative due to its lower cost as well as higher growth rate.
The median home cost in Spencer (zip 38585) is $143,900. Home appreciation the last 10 years has been 111.1%. Home Appreciation in Spencer (zip 38585) is up 25.2%.
Average Age of Homes
- The median age of Spencer (zip 38585) real estate is 33 years old
The Rental Market in Spencer (zip 38585)
- Renters make up 12.0% of the Spencer (zip 38585) population
- 3.3% of houses and apartments in Spencer (zip 38585), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.