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 4,672 people, 2,095 houses or apartments, and a median cost of homes of $253,329, Springville real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Springville, accounting for 54.31% of the town's housing units. Other types of housing that are prevalent in Springville include mobile homes or trailers ( 42.84%), large apartment complexes or high rise apartments ( 1.35%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Springville. Owner-occupied housing accounts for 81.04% of Springville's homes, and 50.02% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Springville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Springville built between 2000 and later ( 29.06%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.98%). There's also some housing in Springville built before 1939 ( 3.03%).
A decent proportion of the Springville housing stock is seasonally occupied. That is, homes and condos in Springville are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Springville housing market speaks to its popularity as a vacation location of choice.
Appreciation rates for homes in Springville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 115.01%, which ranks in the top 30% nationwide. This equates to an annual average Springville house appreciation rate of 7.96%.
Over the last year, Springville appreciation rates have trailed the rest of the nation. In the last twelve months, Springville's appreciation rate has been 2.39%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Springville were at 2.75%, which equates to an annual appreciation rate of 11.45%.
Relative to Tennessee, our data show that Springville's latest annual appreciation rate is lower than 90% of the other cities and towns in Tennessee.
$253,329
for Tennessee
for nation
2,095
$1,603 / per month