Community Housing Resource Board

Housing Info Line

News Release

COMPREHENSIVE RENT RATE STUDY AVAILABLE

Chattanooga, TN - A new comprehensive study of local rent rates is available through the Housing Info Line, a nonprofit information /referral/counseling service established in 1991 by the community Housing Resource Board. According to Marcia Lillich, Housing Info Line Director, this is the first study of private rentals (as opposed to apartment complexes) made in the Chattanooga region. "The data promises to be useful to a broad range of real estate professionals, housing providers, government agencies, planners and private developers," said Lillich.

The Rent Rate Study looks at the cost of private rentals advertised over a six-month period (September 1999 through February 2000), and includes a data base of 1536 entries categorized by type (apartment, single family house or mobile home) and number of bedrooms (one though four).

Average rent rates for each of the above categories were determined for the following areas: Alton Park; Bonny Oaks; Brainerd; Chattanooga/Downtown/Mountain Creek; East Chattanooga/East Lake/Eastdale; East Brainerd; East Ridge; Harrison/Hwy 58; Highland Park/Glenwood/Missionary Ridge/Orchard Knob/Ridgedale; Hixson/Lakeshore/Northgate; Lookout Mountain/St. Elmo/Tiftonia; North Chattanooga/Rivermont; Redbank; Signal Mountain; Soddy Daisy; Cleveland/Ooltewah/Collegedale/Appison. And in Georgia, Chickamauga/Lafayette; Ft. Oglethorpe; Ringgold; Rossville/Flintstone/Wildwood.

Among other findings, the study shows that average rent in the area rose 225% since the 1990 Census, that only 10% of available apartments have 3 bedrooms, and that—for families needing 3 or more bedrooms—home ownership can be significantly less expensive than renting.

Cost of the 90-page comprehensive study is $50 for nonprofit agencies and $100 for corporations. Bulk rates are available to professional associations.

To order, or to receive a description of methodology, call the Housing Info Line, (423) 267-5223.