Hickman County

Hickman County lands in the 96th percentile nationally and ranks 3rd out of 95 Tennessee counties on overall score, driven almost entirely by its appreciation profile. The median home price sits at $200,203, up 5.92% year-over-year, while the affordability index of 87 confirms that prices remain accessible relative to income. What the data does not show is a functioning cap rate or cash-on-cash return, because both are reported as zero, which tells you something important: at current rents and a 6.85% rate on an $160,000 mortgage, this market does not pencil as a cash-flow play under conventional financing. The appreciation score of 89 out of 100 is the headline, and investors need to treat it as such rather than expect income to carry the position.

This market is built for an appreciation buyer with staying power or a cash buyer who can compress carrying costs enough to get close to breakeven. At $200,203 and with home prices rising at nearly 6% annually, the entry cost is still low by Tennessee standards, and an investor who can hold five-plus years has a credible thesis. A cash-flow buyer screening for day-one yield will find nothing here to work with based on the provided data, and a value-add operator looking to force appreciation through renovation is swimming against a market that appears to be moving on its own momentum. The stability score of 50 is a caution: this is not a set-it-and-forget-it income asset. It is a price-appreciation bet on a small county with limited liquidity if you need to exit.

No economic anchors or employer data were provided for Hickman County, so drawing conclusions about job base or rental demand drivers would require additional sourcing beyond what is available here.

On carrying costs, the combined monthly tax and insurance burden runs $179 at the state-average effective property tax rate of 0.71%, which is flagged as normal, and an insurance rate of 0.36%. That works out to $1,421 in annual taxes and $721 in annual insurance on a $200,203 asset. The 0.71% rate is a state-average estimate per Tax Foundation 2024 data, and actual Hickman County or township-level rates may differ, so verify the local millage before closing. The modest carrying cost is a genuine tailwind: compared to markets where tax rates run 1.5% or higher, Hickman imposes less drag on a leveraged hold, which marginally improves the long-run return even if monthly cash flow is negative.

The risks here are structural. A population of 24,996 means the rental pool is thin, turnover events can sit longer, and liquidity on the asset itself is limited to a small buyer universe. The stability score of 50 reflects that vulnerability. Rural Tennessee counties at this population level can lag broader market recoveries and experience sharper drawdowns when local economic conditions soften, though no specific vacancy or demographic deterioration data is available to quantify that further. The zero cash-flow figures also suggest the rent-to-price ratio is not strong enough to support a conventional income underwrite, which constrains your buyer pool on exit to owner-occupants or other appreciation speculators rather than income investors.

Against its neighbors, Hickman's case is built on price and trajectory. Claiborne County prices to $228,611 with an overall score of 74, three points below Hickman. Rhea and Lincoln both sit at 68 overall with median prices of $266,373 and $257,281 respectively, meaningfully higher entry costs for a lower composite score. Carroll County at $180,314 is cheaper but scores 63 overall, suggesting weaker fundamentals across the board. Anderson County at $301,800 has actual rent data showing a rent-to-price ratio of 0.0636, which implies better income yield mechanics, but its overall score of 62 and price point roughly 50% above Hickman make it a different investment profile. An investor should choose Hickman over these neighbors specifically when the objective is to buy the lowest-priced, highest-scored asset in the state with the expectation that price convergence toward Nashville-adjacent levels continues, and when that investor does not need cash flow to service the hold.