Elmwood, TN—38560
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elmwood, TN
As of Oct '25, the median home price in Elmwood, TN is $276,000, with a year-over-year change of 1.1%. This indicates that home prices in Elmwood, TN are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $276,000 | 1.1% |
| Single Family | $276,000 | 1.8% |
| 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 | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elmwood, TN
Elmwood, TN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Elmwood, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Elmwood, TN is 51. This is a decrease of -42.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $752,000 | 96.0% |
Listing Count | 7 | -47.0% |
| Listings as % of Homes | 1.4% | -47.0% |
Days on Market | 51 | -42.0% |
Demographics — Elmwood, TN
As of the latest ACS Survey released in 2023, Elmwood, TN has a population of 1,640, which has increased by 38.9% over the past 5 years. Elmwood, TN is a popular place for families, as children make up 30.2% of the population. The area has a poorly educated workforce, with 13.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,640 | 38.9% |
% Under 18 | 30.2% | 77.6% |
% Seniors | 9.8% | -48.1% |
% WFH | 5.9% | ∞% |
% w/ College Degree | 13.8% | 42.3% |
As of the latest ACS Survey released in 2023, Elmwood, TN is a predominantly white area, with 94.1% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Elmwood, TN is asian, making up 1.9% of the population. Foreign-born residents account for 2.1% of the population in Elmwood, TN, and this percentage has increased by Inf% 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 | 94.1% | -3.6% |
% Black | 0.4% | ∞% |
% Hispanic | 1.8% | ∞% |
% Asian | 1.9% | ∞% |
% Foreign Born | 2.1% | ∞% |
Mortgage and Risk — Elmwood, TN
According to HUD data as of 2023, there were 63 mortgage originations in Elmwood, TN, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Elmwood, TN. Investor activity is low, as 8.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 63 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 8.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Elmwood, TN
Elmwood, 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 | $790 |
| 2 Bedroom | N/A | N/A | $1,040 |
| 3 Bedroom | N/A | N/A | $1,370 |
| 4 Bedroom | N/A | N/A | $1,380 |
Affordability — Elmwood, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $276,000 |
| Median Household Income | $65,200 |