Fayette County, Tennessee Housing Market
In Fayette County, Tennessee, the median home value is $340,800, with a median monthly rent of $902. This places Fayette County at #457 nationally out of 3134 counties by median home value, and #8 within Tennessee.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,168
- Establishments: 736
- BLS QCEW, 2025
Housing Supply
- Single-family: 356
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 18,764 (avg $99,915)
- Outflow: 17,555 (avg $99,075)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 7 active ZIP codes in Fayette County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 38057 | 211.7 | +8.96% | 2025 |
| 2 | 38066 | 227.5 | +1.80% | 2025 |
| 3 | 38068 | 216.7 | -2.03% | 2025 |
| 4 | 38060 | 217.1 | +5.82% | 2025 |
| 5 | 38028 | 198.6 | +1.16% | 2025 |
| 6 | 38017 | 220.2 | -2.31% | 2025 |
| 7 | 38002 | 198.4 | +1.62% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Fayette County Compares
| Metric | Fayette County | Tennessee Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $340,800 | $223,385 | $227,706 |
| Median Gross Rent | $902 | $892 | $968 |
| Owner Occupancy Rate | 81.4% | 74.1% | 73.3% |
| Price/Rent Ratio | 31.5 | 20.5 | 18.7 |
Market Analysis
The median home value in Fayette County is 52.6% above the Tennessee state average and 49.7% above the U.S. national average. The median rent of $902/month is 1.1% above the state average.
With a price-to-rent ratio of 31.5, Fayette County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Fayette County has an owner-occupancy rate of 81.4%, compared to 74.1% in Tennessee and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Payette County | Idaho | $341,800 | $860 |
| Tehama County | California | $339,600 | $1,184 |
| Del Norte County | California | $342,000 | $1,233 |
| Brevard County | Florida | $339,600 | $1,556 |
| Walton County | Georgia | $339,500 | $1,175 |
Other Counties in Tennessee
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Cheatham County | $338,700 | $1,345 | 81.5% |
| Trousdale County | $337,600 | $853 | 74.5% |
| Robertson County | $335,000 | $1,199 | 77.6% |
| Loudon County | $348,000 | $1,062 | 80.3% |
| Maury County | $355,700 | $1,300 | 70.9% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).