Fairmount CDP Tennessee Area Home Supply Charts

This page looks at a variety of Fairmount CDP Tennessee housing market data taken from the most recent 2021 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Fairmount CDP shows it has a Housing Units of 692 which is less than most other places in the metropolitan area.

Figure 2 illustrates the housing density in the Fairmount CDP housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Fairmount CDP depicts it has a Housing Density of 154.3 which is less than most other places in the local area. The place with the highest housing density in the area is Red Bank which depicts a density of 991.1 ( considerably bigger). Comparing housing density to the United States average of 39.2, Fairmount CDP is approximately 3.9 times bigger. Also, measured against the state of Tennessee, housing density of 72.5, Fairmount CDP is about twice as large.

In Figure 4, Fairmount CDP area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Fairmount CDP depicts it has a Housing Unit Change of -34.0% which is the smallest when ranked by change in the housing units of all the other places in the local area. The place with the highest change in the housing units in the area is Falling Water CDP which depicts a housing units of 8.8% ( about the same size). Comparing change in the housing units to the United States average of 6.5%, Fairmount CDP is quite a bit bigger. Also, compared with the state of Tennessee, change in the housing units of 6.5%, Fairmount CDP is very much bigger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Fairmount CDP indicates it has a Renter Percent of 4.7% which is the smallest when ranked by renter percent of all the other places in the metro area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 95.3% which is more than all other places in the greater Fairmount CDP region.

Fairmount CDP Tennessee Home Cost Charts

Looking at the housing data provided in Figure 7, the average Fairmount CDP home price is illustrated for this community and a useful analysis of affordable housing. Fairmount CDP depicts it has a Median Home Value of $357,900 which is the second most median home prices of all the places in the greater Fairmount CDP region. The place with the highest median home price in the area is Walden which depicts a home price of $437,500 (22.2% larger). Figure 8 provides aggregate comparative data for the Fairmount CDP Tennessee metro area in terms of the median housing rental rate, apartment rent, etc. Fairmount CDP depicts it has a Median Gross Rent of $1,170 which is the third most of all other places in the metro area. The place with the highest rental rates in the area is Signal Mountain which depicts a rental rates of $1,841 (57.4% larger). Comparing rental rates to the United States average of $1,096, Fairmount CDP is 6.8% larger. Also, benchmarked against the state of Tennessee, rental rates of $897, Fairmount CDP is 30.4% larger.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Fairmount CDP has the percentage of home price worth less than $50,000 the second smallest when ranked by home price worth less than $50,000 of all the other places in the local area at 2% of the total. Second, it has less than most other places in the local area in order of home price worth between $100,000 to $200,000 at 10% of the total. Third, it has the largest proportion of home price worth between $300,000 to $400,000 at 22% of the total and is ranked #1.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Fairmount CDP shows it has a Median Owner Cost of $1,225 which is the second most median ownership cost of all the places in the greater Fairmount CDP region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Fairmount CDP metro area. it has a Owner Cost as % of HH Income of 14% which is less than most other places in the local area.

The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Fairmount CDP depicts it has a Median Home Value as Percent of Median Earnings of 317% which is the smallest when sorted by median home value as a percent of median worker earnings of all the other places in the area.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Fairmount CDP shows it has a Median Owner Costs-With Mortgage of $1,660 which is in the center range of other places in the metropolitan area. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $471 which is the third most median housing cost of all other places in the greater Fairmount CDP region.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Fairmount CDP has the percentage of owner cost less than $300 the second smallest in order of owner cost less than $300 of all the other places in the local area at 5% of the total. Second, it has the smallest proportion of owner cost between $500 and $700 at 4% of the total. Third, it has the largest proportion of owner cost between $700 and $1,000 at 29% of the total and is ranked #1. Also, it has the largest proportion of owner cost between $3,000 and $3,500 at 4% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Fairmount CDP shows it has a % of Income Owner Costs-With Mortgage of 15% which is the smallest when ranked by cost as a percent of household income of all the other places in the local area. The place with the highest cost as a percent of household income in the area is Red Bank which depicts a cost as a percent of household income of 22% (50.0% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Fairmount CDP depicts it has a % of Income Owner Costs-No Mortgage of 12% which is more than all other places in the greater region.

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Fairmount CDP has the largest proportion of rent as a percent of income is less than 10 pct at 73% of the total and is ranked #1. Second, it has the second smallest as measured by rent as a percent of income is less than 10 pct of all the other places in the local area when sorted by rent as a percent of income is between 10pct to 20pct at 7% of the total. Third, it has one of the largest proportions of rent as a percent of income is between 40pct to 50pct at 20% of the total and is ranked #2. The only larger place being Lone Oak CDP with 20%.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Fairmount CDP has the smallest proportion of housing cost between $500 and $700 at 4% of the total. Second, it has the largest proportion of housing cost between $700 and $1,000 at 31% of the total and is ranked #1. Third, it has the largest proportion of housing cost between $2,000 and $2,500 at 15% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $2,286 which is the third most median real estate taxes paid of all other places in the greater Fairmount CDP region. The place with the highest median real estate taxes paid in the area is Walden which shows a taxes paid of $3,393 (48.4% larger). Comparing median real estate taxes paid to the United States average of $2,551, Fairmount CDP is about 11.6% smaller. Also, in comparison with the state of Tennessee, median real estate taxes paid of $1,217, Fairmount CDP is about twice as large.

Figure 23 shows the rental rate distribution for this area. Fairmount CDP Tennessee has the largest proportion of rent between 750 and 1000 dollars at 73% of the total and is ranked #1. Second, it has one of the largest proportions of rent between 1000 and 1500 dollars at 27% of the total and is ranked #2. The only larger place being Signal Mountain with 32%.

Fairmount CDP Tennessee Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Fairmount CDP has the largest proportion of No 2nd Mortgage or HELOC at 24% of the total and is ranked #1. Second, it has the largest proportion of Primary Mortgage with 2nd Mortgage and HELOC at 14% of the total and is ranked #1. Third, it has the largest proportion of Primary Mortgage and HELOC at 10% of the total and is ranked #1. Also, it has the smallest proportion of With HELOC no Primary Mortgage at 31% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Fairmount CDP has the smallest proportion of houses with mortgages at 31% of the total.

Fairmount CDP Tennessee Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.2 which is in the mid range of other places in the metro area. The place with the highest family members per housing unit in the area is Falling Water CDP which shows a family members per housing unit of 3.8 (16.8% larger). Comparing family members per housing unit to the United States average of 3.3, Fairmount CDP is only about 2.1% smaller. Also, measured against the state of Tennessee, family members per housing unit of 3.2, Fairmount CDP is only slightly larger.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 7.7 which is the third most average number of rooms in a house of all other places in the greater Fairmount CDP region. The place with the highest average number of rooms in a house in the area is Walden which shows an average number of rooms in a house of 7.9 (only about 2.6% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1989 which is the second most year built of all the places in the greater Fairmount CDP region. The place with the highest year built in the area is Lone Oak CDP which depicts a year built of 1991 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has one of the largest proportions of homes built in 2014 or later at 8% of the total and is ranked #2. The only larger place being Falling Water CDP with 9%. Second, it has the smallest proportion of homes built between 2010 to 2013 at 2% of the total. Third, it has the largest proportion of homes built between 2000 to 2009 at 32% of the total and is ranked #1. Also, it has the largest proportion of homes built between 1990 to 1999 at 41% of the total and is ranked #1. In addition, it has the second smallest in order of homes built in 2014 or later of all the other places in the greater region when sorted by homes built between 1980 to 1989 at 11% of the total. Furthermore, it has the smallest proportion of homes built between 1970 to 1979 at 2% of the total.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. has the smallest proportion of owner housing units at 30 of the total.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. it has the largest proportion of one unit attached at 8% of the total and is ranked #1.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has one of the largest proportions of value of homes built 2014 or later at $547,400 of the total and is ranked #2. The only larger place being Signal Mountain with $590,000. Second, it has one of the largest proportions of value of homes built 2000 to 2009 at $387,000 of the total and is ranked #3. Only #2 Signal Mountain ($425,000), and #1 Walden ($589,300) are larger. Third, it has the largest proportion of value of homes built 1980 to 1989 at $469,300 of the total and is ranked #1.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Fairmount CDP residents. it has a Owner-Household Size of 2.2 which is the smallest in order of homeowner household size of all the other places in the area. The place with the highest homeowner household size in the area is Lone Oak CDP which shows a homeowner household size of 3.0 (39.0% larger).

Figure 37 shows the household size for renters. Fairmount CDP depicts it has a Renter-Household Size of 4.7 which is ranked #1 of all places in the greater Fairmount CDP region. Figure 38 shows the year that people who own homes moved into this region. has the smallest proportion of owners moved in 2019 or later at 14% of the total. Second, it has the largest proportion of owners moved in 2015 to 2018 at 44% of the total and is ranked #1. Third, it has the smallest proportion of owners moved in 2010 to 2014 at 15% of the total. Also, it has the largest proportion of owners moved in 2000 to 2009 at 18% of the total and is ranked #1. In addition, it has the smallest proportion of owners moved in 1990 to 1999 at 9% of the total. Figure 39 shows the year that people who rent moved into the area. Fairmount CDP has the largest proportion of renters moved in 2019 or later at 89% of the total and is ranked #1.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2004 which is less than most other places in the area. Figure 41 compares the median year that renters moved into their home. Fairmount CDP depicts it has a Renter Median Year Moved In of 2018 which is more than all other places in the greater Fairmount CDP region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the percentage of home using bottled, tank, or lp gas in the mid range of other places in the local area at 59% of the total. Second, it has one of the largest proportions of homes using coal or coke at 1% of the total and is ranked #2. The only larger place being Lone Oak CDP with 14%.