Real Estate Investing in Johnson City, Tennessee (37615)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37615 (Johnson City, TN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.0% vacancy may signal weakening demand.
What’s happening in Johnson City, TN (37615)?
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Market Analysis: 37615 Johnson City
ZIP 37615 inside Washington County looks affordable on the surface — median value of $359K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 37615 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Within TN, ZIP 37615 trails on several market indicators that neighboring Washington County submarkets outperform. The gap is real and substantial enough to shape underwriting.
Demographically, 37615 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 37615 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Johnson City:
Property Strategy for 37615
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $228,525 | $1,230 | 3.9% | +7.5% | $114,262 |
| 3BR | $353,241 | $1,520 | 3.1% | +9.4% | $117,747 |
| 4BR | $524,472 | $1,680 | 2.3% | +10.1% | $131,118 |
| 5BR | $776,716 | — | — | +10.4% | $155,343 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 37615 Compare?
| Metric | 37615 | Johnson City | Johnson City, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $359,330 | $114,441 | N/A | $327,001 |
| 5-Year CAGR | 6.5% | 6.8% | N/A | 7.7% |
| Avg Rent | $1,900 | $1,565 | N/A | - |
| Cap Rate | 4.1% | 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 37615 (Johnson City, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $359,330 |
| Monthly Rent | $1,900 |
| Price-to-Rent | 15.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +4.4% ▲ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | +6.5% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 Rent Trends
| 1-Year | +6.4% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.1%). 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 37615
Population: 22,013
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 37615
Schools in This ZIP Code
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 3,773 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How high is vacancy risk in Johnson City, TN?
Vacancy risk in Johnson City, TN is elevated. That supports steady cash flow for typical rental holds.
How much rent can I charge in Johnson City, TN?
Johnson City, TN rentals go for roughly $1,900/mo a month. That puts gross yield in solid territory relative to $359K acquisition costs.
Are renters plentiful in Johnson City, TN?
Working renters make up the core of the Johnson City, TN tenant base. The pool is reasonable for investors targeting long-term holds.
Can owner-occupants cash flow in Johnson City, TN?
Johnson City, TN is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $359K price point reasonable to enter.
What is the investability score for Johnson City, TN?
Yes - Johnson City, TN a 3.0/5 investability score. With $359K home prices against $1,900/mo monthly rent, the market delivers a reasonable entry point for new investors.
You know 37615 now. You don’t know where it ranks.
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How 37615 ranks in Johnson City, TN
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