Similar to the state and nation, our region’s total number of housing units increased 19% since 2000. In 2010-14, 114% of housing units with addresses were vacant, up from 10% in 2000.
In 2010-14, 68% of occupied housing was owner-occupied, above the 67% in the state and 64% nationwide. Home ownership decreased slightly since 2000, falling 3 percentage points. Conversely, the rate of renter-occupied housing increased over the same time period, reaching 32% in 2010-14.
Despite the boom and bust of the housing bubble, the regional median home value increased during the past decade. Home values in the region increased at a higher rate (14%) than home values in both the state (9%) and nation (7%) since 2000. The region’s median home value ($151,500) was above the state’s ($139,900) in 2010-14, but below the nation’s ($175,700).
Housing in our region was more affordable than the state and nation for renters. The median monthly rental price in the region was about $740, up 15% since 2000. This compares to higher median rents in both the state ($760) and nation ($920).
Point-in-time estimates in 2015 show that there were about 1,226 homeless persons in our region, up 12% from 2012. Over two-thirds of the homeless persons in our region in 2015 were counted in Knox County.