Clarksville, TN-KY
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
moderate
Price to income
3.46×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Tennessee
- 3.49×-0.03
- vs U.S.
- 3.43×
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
24.4%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Tennessee
- 24.3%
- vs U.S.
- 23.3%
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.58%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Tennessee
- 4.45%+0.13
- vs U.S.
- 4.35%+0.23
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.49%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Tennessee
- 0.15%+0.34
- vs U.S.
- 0.03%+0.46
Benchmark
IRS net migration ÷ population
strong
Permit pipeline
8.29
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Tennessee
- 5.07+3.22
- vs U.S.
- 3.52+4.77
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.7%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Tennessee
- 3.4%
- vs U.S.
- 3.9%-0.2
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+61.4%
homeValues.yearOverYear
+2.8%
Median home value
$229,400
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $1,094 | $13,128 | 19.8% |
| 2 BR | $1,346 | $16,152 | 24.4% |
| 3 BR | $1,871 | $22,452 | 33.9% |
Labor market direction
Unemployment
3.7%
Median household income
$66,210
What's being built
Total TTM
2,677
+9.6% YoY
Single-family
1,645
2–4 unit
149
5+ unit
883
All 4 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Montgomery County | 222,305 | $248,300 | $72,365 | 2,501 | +10.5% |
| Christian County | 72,766 | $149,200 | $54,190 | 160 | -6.4% |
| Trigg County | 14,154 | $192,000 | $54,630 | 0 | |
| Stewart County | 13,724 | $182,700 | $62,052 | 16 | +33.3% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Clarksville | 322,949 | $66,210 | 3.46× | 4.58% | +61.4% | 8.29 | 3.7% |
| South Bend-Mishawaka, IN-MI | 323,992 | $65,385 | — | — | +58.4% | — | 3.2% |
| Roanoke, VA | 314,708 | $67,447 | — | — | +60.9% | — | 3.3% |
| Evansville, IN-KY | 313,961 | $67,671 | — | — | +46.5% | — | 2.6% |
| Rockford, IL | 338,050 | $66,571 | — | — | +67.4% | — | 6.2% |
| Lubbock, TX | 322,285 | $62,288 | — | — | +35.7% | — | 3.1% |
Where people are moving in from
Net migration
+1,585
+0.49% of population
| Origin county | Tax returns |
|---|---|
| Davidson County, TN | 1,247 |
| Christian County, KY | 1,059 |
| Montgomery County, TN | 913 |
| Rutherford County, TN | 287 |
| Robertson County, TN | 226 |
| Sumner County, TN | 206 |
Who lives in Clarksville
- Median age
- 32
- Bachelor's+
- 28.0%
- Owner-occupancy
- 62.1%
- Vacancy rate
- 9.5%
- Rent burdened (30%+)
- 42.1%
- Median household income
- $66,210
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.