Rhea County, Tennessee Housing Market
In Rhea County, Tennessee, the median home value is $206,000, with a median monthly rent of $839. This places Rhea County at #1341 nationally out of 3134 counties by median home value, and #47 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: $902
- Establishments: 570
- BLS QCEW, 2025
Housing Supply
- Single-family: 143
- Multi-family: 8
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 12,585 (avg $63,461)
- Outflow: 11,569 (avg $62,132)
- IRS Statistics of Income
🔗 Explore Rhea County on Our Sister Sites
Get the complete picture for Rhea County — financing options and ongoing ownership costs.
💰 Mortgage Guide → 🧾 Property Tax Data →How Rhea County Compares
| Metric | Rhea County | Tennessee Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $206,000 | $223,385 | $227,706 |
| Median Gross Rent | $839 | $892 | $968 |
| Owner Occupancy Rate | 71.5% | 74.1% | 73.3% |
| Price/Rent Ratio | 20.5 | 20.5 | 18.7 |
Market Analysis
The median home value in Rhea County is 7.8% below the Tennessee state average and 9.5% below the U.S. national average. The median rent of $839/month is 5.9% below the state average.
With a price-to-rent ratio of 20.5, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Rhea County has an owner-occupancy rate of 71.5%, compared to 74.1% in Tennessee and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Gray County | Kansas | $206,000 | $808 |
| Washakie County | Wyoming | $206,000 | $720 |
| Pondera County | Montana | $206,100 | $784 |
| Deuel County | South Dakota | $205,900 | $642 |
| Clark County | Kentucky | $205,800 | $938 |
Other Counties in Tennessee
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| White County | $207,200 | $849 | 76.9% |
| Stewart County | $204,700 | $945 | 81.1% |
| Greene County | $207,500 | $737 | 77.1% |
| Union County | $204,000 | $847 | 80.2% |
| Hamblen County | $210,900 | $857 | 69.8% |
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).