Chattanooga-Cleveland-Dalton, TN-GA-AL

There are many factors influencing real estate trends in the Chattanooga-Cleveland-Dalton, TN-GA-AL combined statistical area (CSA). The economy is a major driver of the housing market, and the CSA has been doing well in recent years. The unemployment rate in the CSA was 4.3% in 2019, down from 5.0% in 2018 and 6.2% in 2017. This is good news for the housing market because it means more people are employed and have the income to buy or rent a home.

The population of the CSA is also growing, which is another positive trend for the housing market. The population was estimated to be 1,061,937 in 2019, up from 1,056,428 in 2018. This growth is driven by both natural increase (more births than deaths) and net migration (more people moving into the CSA than moving out). This population growth creates more demand for housing, which drives up prices and rents.

The median home value in the CSA was $172,600 in 2019, up from $168,400 in 2018. The median rent price was $946 per month in 2019, up from $924 per month in 2018. These trends are expected to continue as the economy continues to improve and more people move into the CSA.