Smith County, Tennessee Housing Market
In Smith County, Tennessee, the median home value is $243,800, with a median monthly rent of $922. This places Smith County at #938 nationally out of 3134 counties by median home value, and #28 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: $1,097
- Establishments: 350
- BLS QCEW, 2025
Housing Supply
- Single-family: 146
- Multi-family: 7
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 8,017 (avg $79,466)
- Outflow: 7,574 (avg $80,361)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 4 active ZIP codes in Smith County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 38547 | 313.0 | +8.14% | 2025 |
| 2 | 38563 | 316.4 | — | 2024 |
| 3 | 37184 | 358.2 | +5.39% | 2025 |
| 4 | 37087 | 292.3 | +4.13% | 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 Smith County Compares
| Metric | Smith County | Tennessee Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $243,800 | $223,385 | $227,706 |
| Median Gross Rent | $922 | $892 | $968 |
| Owner Occupancy Rate | 76.9% | 74.1% | 73.3% |
| Price/Rent Ratio | 22.0 | 20.5 | 18.7 |
Market Analysis
The median home value in Smith County is 9.1% above the Tennessee state average and 7.1% above the U.S. national average. The median rent of $922/month is 3.4% above the state average.
With a price-to-rent ratio of 22.0, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Smith County has an owner-occupancy rate of 76.9%, 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 |
|---|---|---|---|
| Macomb County | Michigan | $243,900 | $1,211 |
| Rio Arriba County | New Mexico | $243,700 | $740 |
| DeKalb County | Illinois | $243,600 | $1,049 |
| McLennan County | Texas | $243,600 | $1,173 |
| Jasper County | Georgia | $243,400 | $970 |
Other Counties in Tennessee
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Coffee County | $246,800 | $913 | 69.0% |
| Tipton County | $240,600 | $1,013 | 76.3% |
| Anderson County | $239,400 | $1,031 | 71.7% |
| Washington County | $249,000 | $1,005 | 64.5% |
| Shelby County | $249,100 | $1,232 | 54.1% |
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).