Mount Carmel, TN—37645
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mount Carmel, TN
As of Oct '25, the median home price in Mount Carmel, TN is $256,000, with a year-over-year change of 2.3%. This indicates that home prices in Mount Carmel, TN are increasing. According to Zillow, the 1-year price projection is 4.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $256,000 | 2.3% |
| Single Family | $255,000 | 2.8% |
| 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 | $285,000 | 3.6% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Mount Carmel, TN
As of July '25, Rentcast reports the average rent in Mount Carmel, TN is $2,500, with a year-over-year rent change of 110.1%. Per bedroom, the median rent as of July '25 in Mount Carmel, TN is 3-bedrooms: $2,500. The most common rental property sizes in Mount Carmel, TN are 3-bedroom and 2-bedroom, accounting for 50.2% and 42.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,500 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,500 | $2,500 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Mount Carmel, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Mount Carmel, TN is 38. This is a decrease of -16.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 55.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $311,000 | -3.0% |
Listing Count | 33 | 25.0% |
| Listings as % of Homes | 0.6% | 25.0% |
Days on Market | 38 | -16.0% |
Demographics — Mount Carmel, TN
As of the latest ACS Survey released in 2023, Mount Carmel, TN has a population of 5,500, which has increased by 9.1% over the past 5 years. Mount Carmel, TN is a moderately popular place for families, as children make up 18.4% of the population. The area has a poorly educated workforce, with 15.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,500 | 9.1% |
% Under 18 | 18.4% | -21.4% |
% Seniors | 18.4% | 10.2% |
% WFH | 12.2% | 281.2% |
% w/ College Degree | 15.0% | -16.2% |
As of the latest ACS Survey released in 2023, Mount Carmel, TN is a predominantly white area, with 97.3% of the population identifying as white. The white population has grown by 3.4% in the last 5 years. The second most common race or ethnicity in Mount Carmel, TN is asian, making up 0.8% of the population. Foreign-born residents account for 0.4% of the population in Mount Carmel, TN, and this percentage has decreased by 78.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 97.3% | 3.4% |
% Black | 0.0% | -100.0% |
% Hispanic | 0.4% | -88.9% |
% Asian | 0.8% | 300.0% |
% Foreign Born | 0.4% | -78.9% |
Mortgage and Risk — Mount Carmel, TN
According to HUD data as of 2023, there were 97 mortgage originations in Mount Carmel, TN, of which 76.0% 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 Mount Carmel, TN. Investor activity is low, as 0.0% of loans were by investors. 22.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 97 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 22.0% |
Loan Activity
Rentals and Section 8 — Mount Carmel, TN
Mount Carmel, TN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 9 |
Total Units Section 8 | 9 |
% Rentals under Section 8 | 4.8% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $780 |
| 2 Bedroom | N/A | N/A | $990 |
| 3 Bedroom | -$1,220 | $2,500 | $1,280 |
| 4 Bedroom | N/A | N/A | $1,460 |
Affordability — Mount Carmel, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $256,000 |
| Median Household Income | $71,300 |