Walnut Grove, TN—37048
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Walnut Grove, TN
As of Oct '25, the median home price in Walnut Grove, TN is $469,000, with a year-over-year change of 3.1%. This indicates that home prices in Walnut Grove, TN are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $469,000 | 3.1% |
| Single Family | $469,000 | 3.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $487,000 | 2.3% |
4 Bed | $682,000 | 5.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Walnut Grove, TN
As of July '25, Rentcast reports the average rent in Walnut Grove, TN is $2,360, with a year-over-year rent change of 47.5%. Per bedroom, the median rent as of July '25 in Walnut Grove, TN is 2-bedrooms: $1,400, 3-bedrooms: $3,100, 4-bedrooms: $2,590. The most common rental property sizes in Walnut Grove, TN are 2-bedroom and 3-bedroom, accounting for 47.2% and 22.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,360 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,400 | $1,400 |
| 3 Bed Rent | $2,400 | $3,100 |
| 4 Bed Rent | $2,200 | $2,590 |
% of Rental Stock
Property Listings — Walnut Grove, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Walnut Grove, TN is 47. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $600,000 | 3.0% |
Listing Count | 41 | 3.0% |
| Listings as % of Homes | 1.0% | 3.0% |
Days on Market | 47 | 0.0% |
Demographics — Walnut Grove, TN
As of the latest ACS Survey released in 2023, Walnut Grove, TN has a population of 6,320, which has decreased by -2.8% over the past 5 years. Walnut Grove, TN is a moderately popular place for families, as children make up 22.7% of the population. The area has a moderately educated workforce, with 27.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,320 | -2.8% |
% Under 18 | 22.7% | 0.9% |
% Seniors | 17.0% | 2.4% |
% WFH | 13.2% | 67.1% |
% w/ College Degree | 27.7% | 31.3% |
As of the latest ACS Survey released in 2023, Walnut Grove, TN is a predominantly white area, with 91.6% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Walnut Grove, TN is hispanic, making up 2.2% of the population. Foreign-born residents account for 1.3% of the population in Walnut Grove, TN, and this percentage has increased by 225.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.6% | -6.3% |
% Black | 0.7% | 250.0% |
% Hispanic | 2.2% | 144.4% |
% Asian | 0.8% | 700.0% |
% Foreign Born | 1.3% | 225.0% |
Mortgage and Risk — Walnut Grove, TN
According to HUD data as of 2023, there were 205 mortgage originations in Walnut Grove, TN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Walnut Grove, TN. Investor activity is low, as 5.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 205 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 5.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Walnut Grove, TN
Walnut Grove, TN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,300 |
| 2 Bedroom | $60 | $1,400 | $1,460 |
| 3 Bedroom | -$560 | $2,400 | $1,840 |
| 4 Bedroom | $40 | $2,200 | $2,240 |
Affordability — Walnut Grove, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $469,000 |
| Median Household Income | $98,000 |