Real Estate Investing in Johnson City, Tennessee (37604)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37604 (Johnson City, TN)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.6% vacancy may signal weakening demand.
What’s happening in Johnson City, TN (37604)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 37604 Johnson City
The 37604 ZIP covers a section of Johnson City that demands careful diligence. Prices near $288K look accessible, but the work to make a deal cash flow is real.
Rent of $1,481/mo on a $288K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 37604 sits below the stated 0.0% once reality is priced in.
The gap between 37604 and stronger Johnson City ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Employment concentration in 37604 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Johnson City:
Property Strategy for 37604
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $208,414 | $1,270 | 4.4% | +11.7% | $104,207 |
| 3BR | $289,699 | $1,570 | 3.9% | +10.0% | $96,566 |
| 4BR | $423,410 | $1,740 | 3.0% | +9.3% | $105,852 |
| 5BR | $612,392 | — | — | +10.5% | $122,478 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 37604 Compare?
| Metric | 37604 | Johnson City | Johnson City, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $288,254 | $114,441 | N/A | $327,001 |
| 5-Year CAGR | 6.7% | 6.8% | N/A | 7.7% |
| Avg Rent | $1,481 | $1,565 | N/A | - |
| Cap Rate | 4.0% | 4.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 37604 (Johnson City, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $288,254 |
| Monthly Rent | $1,481 |
| Price-to-Rent | 16.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.0% |
| 5-Year IRR | 10.7% |
📈 Home Appreciation
| 1-Year | +4.4% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | -3.3% ▼ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 37604
Population: 38,359
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 37604
Schools in This ZIP Code
Nearby Schools (2 more)
Schools in adjacent ZIP codes that may serve this area
University School
Little Buccaneers Student Child Care Center
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 4,709 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much does a house cost in Johnson City, TN?
In Johnson City, TN the median home value sits at $288K. Against the broader TN market, that reads as reasonable for most investors.
What is the tenant pool like in Johnson City, TN?
The tenant pool in Johnson City, TN is solid, supported by local employment and population fundamentals. Rents of $1,481/mo are well-absorbed by the market.
Does house hacking work in Johnson City, TN?
House hacking in Johnson City, TN is reasonable to execute. Prices around $288K and rents of $1,481/mo solid owner-occupant economics.
What do rentals go for in Johnson City, TN?
Average rent in Johnson City, TN is approximately $1,481/mo per month. Against $288K home values that yields a reasonable rent-to-price ratio.
What are vacancy rates like in Johnson City, TN?
Johnson City, TN sees elevated vacancy, which is reasonable relative to the broader TN rental market.
You know 37604 now. You don’t know where it ranks.
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How 37604 ranks in Johnson City, TN
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