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 a population of 684, 232 total housing units (homes and apartments), and a median house value of $536,867, Ooltewah real estate is some of the most expensive in Tennessee, although Ooltewah home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Ooltewah, accounting for 59.91% of the town's housing units. Other types of housing that are prevalent in Ooltewah include duplexes, homes converted to apartments or other small apartment buildings ( 21.98%), mobile homes or trailers ( 13.36%), and a few row houses and other attached homes ( 4.74%).
The most prevalent building size and type in Ooltewah are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.79% owning and 36.21% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Ooltewah's housing was primarily built during this period, from the '40s through the '60s. A full 51.29% of the town's housing hails from this era. Other housing ages represented in Ooltewah include homes built between 2000 and later ( 26.72%) and housing constructed between 1970-1999 ( 15.52%). There's also some housing in Ooltewah built before 1939 ( 6.47%).
Appreciation rates for homes in Ooltewah have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 117.80%, which ranks in the top 30% nationwide. This equates to an annual average Ooltewah house appreciation rate of 8.09%.
Over the last year, Ooltewah appreciation rates have trailed the rest of the nation. In the last twelve months, Ooltewah's appreciation rate has been 6.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ooltewah were at -0.73%, which equates to an annual appreciation rate of -2.89%.
Notably, Ooltewah's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Tennessee, our data show that Ooltewah's latest annual appreciation rate is higher than 70% of the other cities and towns in Tennessee.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Ooltewah differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ooltewah - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Ooltewah real estate investment or home purchase decisions.
$536,867
for Tennessee
for nation
232
$2,723 / per month