Real Estate Investing in Morristown, Tennessee (37813)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37813 (Morristown, TN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.3% vacancy may signal weakening demand.
- Elevated poverty: 20.4% poverty rate — can affect rent collection.
What’s happening in Morristown, TN (37813)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 37813 Morristown
On the rental side, ZIP 37813 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $232K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $232K asset, 37813 is the wrong submarket. If the plan prices in friction, the yield can still work.
Nearby ZIPs in Morristown have seen price recovery that 37813 has not matched. Hamblen County data supports the view that the spread is structural rather than temporary.
The 37813 ZIP's population of 17,479 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
appears to 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 Morristown:
Property Strategy for 37813
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $171,000 | $1,110 | 4.7% | +12.9% | $85,500 |
| 3BR | $257,191 | $1,410 | 3.9% | +11.6% | $85,730 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 37813 Compare?
| Metric | 37813 | Morristown | Morristown, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $232,492 | $129,816 | N/A | $327,001 |
| 5-Year CAGR | 7.4% | 7.5% | N/A | 7.7% |
| Avg Rent | $1,695 | $1,579 | N/A | - |
| Cap Rate | 5.7% | 4.8% | - | - |
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 37813 (Morristown, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $232,492 |
| Monthly Rent | $1,695 |
| Price-to-Rent | 11.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.8% |
| Cap Rate | 5.7% |
| 5-Year IRR | 13.1% |
📈 Home Appreciation
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.7%). 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 37813
Population: 17,479
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 37813
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 2,195 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How does Morristown, TN rate as a rental market?
Morristown, TN scores 3.0/5 for investability. Home values sit at $232K and rents near $1,695/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Which investment style suits Morristown, TN?
Investors usually favor careful cash-flow rentals with hands-on management in Morristown, TN. With home values at $232K and rents near $1,695/mo, other strategies can work but produce consistent rather than outsized returns.
What is the rental occupancy rate in Morristown, TN?
Occupancy in Morristown, TN runs predictable with elevated vacancy. Well-priced units at $1,695/mo lease on reasonable timelines.
How strong is the working-renter base in Morristown, TN?
The renter base in Morristown, TN is reasonable for the $1,695/mo price point. Screening well and pricing to market typically yields reliable tenants.
How much should I expect to pay for a home in Morristown, TN?
Expect median prices around $232K in Morristown, TN. The market has run at a 0.0% 5-year CAGR, so entry costs have been even-keeled.
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How 37813 ranks in Morristown, TN
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