Erwin, TN—37650
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Erwin, TN
As of Oct '25, the median home price in Erwin, TN is $220,000, with a year-over-year change of -3.5%. This indicates that home prices in Erwin, TN are decreasing. According to Zillow, the 1-year price projection is 3.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $220,000 | -3.6% |
| Single Family | $220,000 | -2.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $184,000 | -3.7% |
3 Bed | $265,000 | -0.7% |
4 Bed | $308,000 | 1.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Erwin, TN
As of July '25, Rentcast reports the average rent in Erwin, TN is $1,610, with a year-over-year rent change of 1.9%. Per bedroom, the median rent as of July '25 in Erwin, TN is 1-bedrooms: $1,150, 2-bedrooms: $1,100, 3-bedrooms: $2,320. The most common rental property sizes in Erwin, TN are 2-bedroom and 3-bedroom, accounting for 41.7% and 34.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,610 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $800 | $1,150 |
| 2 Bed Rent | $1,100 | $1,100 |
| 3 Bed Rent | $1,850 | $2,320 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Erwin, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Erwin, TN is 43. This is a increase of 22.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 45.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $283,000 | -13.0% |
Listing Count | 44 | -1.0% |
| Listings as % of Homes | 0.5% | -1.0% |
Days on Market | 43 | 22.0% |
Demographics — Erwin, TN
As of the latest ACS Survey released in 2023, Erwin, TN has a population of 13,100, which has increased by 12.1% over the past 5 years. Erwin, TN is a moderately popular place for families, as children make up 21.3% of the population. The area has a poorly educated workforce, with 16.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,100 | 12.1% |
% Under 18 | 21.3% | 20.3% |
% Seniors | 21.4% | -13.0% |
% WFH | 6.9% | 122.6% |
% w/ College Degree | 16.9% | 12.7% |
As of the latest ACS Survey released in 2023, Erwin, TN is a predominantly white area, with 93.5% of the population identifying as white. The white population has grown by 0.5% in the last 5 years. The second most common race or ethnicity in Erwin, TN is hispanic, making up 5.3% of the population. Foreign-born residents account for 0.7% of the population in Erwin, TN, and this percentage has decreased by 74.1% 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 | 93.5% | 0.5% |
% Black | 0.5% | 25.0% |
% Hispanic | 5.3% | 3.9% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.7% | -74.1% |
Mortgage and Risk — Erwin, TN
According to HUD data as of 2023, there were 192 mortgage originations in Erwin, TN, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Erwin, TN. Investor activity is low, as 3.0% of loans were by investors. 20.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 192 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 20.0% |
Loan Activity
Rentals and Section 8 — Erwin, TN
Erwin, TN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 175 |
Total Units Section 8 | 101 |
% Rentals under Section 8 | 6.9% |
% Occupied Section 8 | 87.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $800 | $790 |
| 2 Bedroom | -$130 | $1,100 | $970 |
| 3 Bedroom | -$640 | $1,850 | $1,210 |
| 4 Bedroom | N/A | N/A | $1,410 |
Affordability — Erwin, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $220,000 |
| Median Household Income | $49,700 |