New Market, TN—37820
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Market, TN
As of Nov '25, the median home price in New Market, TN is $304,000, with a year-over-year change of -0.1%. This indicates that home prices in New Market, TN are flat. According to Zillow, the 1-year price projection is 4.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $304,000 | -0.1% |
| Single Family | $304,000 | 0.3% |
| 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 | $327,000 | 1.9% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — New Market, TN
As of July '25, Rentcast reports the average rent in New Market, TN is $1,670, with a year-over-year rent change of -9.7%. Per bedroom, the median rent as of July '25 in New Market, TN is 2-bedrooms: $1,550, 3-bedrooms: $1,900. The most common rental property sizes in New Market, TN are 3-bedroom and 2-bedroom, accounting for 66.7% and 27.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,670 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,450 | $1,550 |
| 3 Bed Rent | $1,900 | $1,900 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — New Market, TN
As of Nov '25, Realtor.com reports that the median days on market for a home in New Market, TN is 53. This is a decrease of -4.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $448,000 | -1.0% |
Listing Count | 35 | 0.0% |
| Listings as % of Homes | 0.5% | 0.0% |
Days on Market | 53 | -4.0% |
Demographics — New Market, TN
As of the latest ACS Survey released in 2023, New Market, TN has a population of 7,740, which has decreased by -5.2% over the past 5 years. New Market, TN is a moderately popular place for families, as children make up 18.5% of the population. The area has a poorly educated workforce, with 16.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,740 | -5.2% |
% Under 18 | 18.5% | -17.8% |
% Seniors | 21.3% | 5.4% |
% WFH | 6.8% | 126.7% |
% w/ College Degree | 16.3% | -1.2% |
As of the latest ACS Survey released in 2023, New Market, TN is a predominantly white area, with 90.2% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in New Market, TN is hispanic, making up 6.3% of the population. Foreign-born residents account for 1.0% of the population in New Market, TN, and this percentage has decreased by 65.5% 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 | 90.2% | -1.3% |
% Black | 0.9% | -10.0% |
% Hispanic | 6.3% | 96.9% |
% Asian | 0.1% | -91.7% |
% Foreign Born | 1.0% | -65.5% |
Mortgage and Risk — New Market, TN
According to HUD data as of 2023, there were 181 mortgage originations in New Market, TN, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in New Market, TN. Investor activity is low, as 1.0% of loans were by investors. 24.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 181 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 24.0% |
Rentals and Section 8 — New Market, TN
New Market, 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 | $810 |
| 2 Bedroom | -$470 | $1,450 | $980 |
| 3 Bedroom | -$630 | $1,900 | $1,270 |
| 4 Bedroom | N/A | N/A | $1,540 |
Affordability — New Market, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $304,000 |
| Median Household Income | $62,900 |