Real Estate Investing in New Market, Tennessee (37820)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37820 (New Market, TN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 13.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 28.9 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in New Market, TN (37820)?
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Market Analysis: 37820 New Market
Investors eyeing 37820 need to respect the fundamentals at play. Home values of $325K come alongside slower price movement and elevated management overhead.
Rent of $936/mo on a $325K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 37820 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 37820 among TN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A resilient renter share of 18% in 37820 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 37820 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in New Market:
Market Trends
Home Value History (with trend line)
📊 How Does 37820 Compare?
| Metric | 37820 | New Market | Morristown, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $324,857 | $324,857 | N/A | $327,001 |
| 5-Year CAGR | 7.5% | 7.5% | N/A | 7.7% |
| Avg Rent | $936 | $936 | N/A | - |
| Cap Rate | 2.3% | 2.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 37820 (New Market, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $324,857 |
| Monthly Rent | $936 |
| Price-to-Rent | 28.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.5% |
| Cap Rate | 2.3% |
| 5-Year IRR | 9.8% |
📈 Home Appreciation
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +7.5% ▲ |
| 10-Year CAGR | +8.7% ▲ |
🏠 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 (2.3%). 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 37820
Population: 7,743
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 37820
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
Frequently Asked Questions
How strong are rents in New Market, TN?
Expect rents around $936/mo per month in New Market, TN. With home values at $325K, the yield math works out to reasonable levels for rental investors.
Do rentals sit vacant long in New Market, TN?
Occupancy in New Market, TN runs measured with elevated vacancy. Well-priced units at $936/mo lease on reasonable timelines.
How strong is New Market, TN for real estate investors?
Our data puts New Market, TN at 3.0/5 for investability. Home prices of $325K and rents around $936/mo create a solid backdrop for investor activity.
What investment strategy works best in New Market, TN?
Investors usually favor careful cash-flow rentals with hands-on management in New Market, TN. With home values at $325K and rents near $936/mo, other strategies can work but produce reliable rather than outsized returns.
What are home prices like in New Market, TN?
Homes in New Market, TN typically sell near $325K. Prices have moved at a 0.0% 5-year CAGR, which predictable long-term demand.
You know 37820 now. You don’t know where it ranks.
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How 37820 ranks in Morristown, TN
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