Wayne County

Wayne County sits at a median home price of $187,855 with year-over-year appreciation of 6.09%, an affordability index of 90 out of 100, and an appreciation score of 89. The tool does not have enough rental income data to calculate a cap rate or cash-on-cash return for this county, which is itself a signal worth pausing on. Markets this small, 16,325 residents, often have thin rental listing data, which makes building a rent estimate from comparable properties on the ground more important than relying on aggregated figures. What the data does confirm is that Wayne is squarely on the appreciation end of the cash-flow-versus-appreciation spectrum, not a market where you underwrite to day-one income.

The numbers suit an appreciation buyer or a patient hold investor better than a cash-flow operator hunting spread above mortgage. At $187,855 the entry price is low enough to limit downside, and 6.09% annual price growth on a base that affordable means nominal dollar gains are still meaningful even if percentage gains moderate. The affordability index of 90 suggests prices remain accessible relative to local incomes, which supports continued demand without the overheating risk that comes when affordability collapses. A value-add operator could find opportunity here if they can force appreciation through renovation in a market where the median price leaves room to buy below replacement cost, but anyone whose underwrite depends on a specific monthly rent figure needs to verify that number locally before committing.

No economic anchor data was provided for Wayne County, so it would be irresponsible to characterize the employer base or claim job stability beyond what the population figure implies: this is a small rural county, and demand drivers are likely regional rather than anchored in a single large employer. That concentration risk cuts both ways. There is no single plant closure that can crater rental demand overnight, but there is also no large institutional employer pulling in relocating workers who need rentals on short notice.

On carry costs, the combined monthly tax and insurance estimate lands at $168, using a state-average effective property tax rate of 0.71% and an insurance rate of 0.36% on the $187,855 purchase price. The tax rate is flagged as normal, so it is not a drag that demands special attention in your underwrite, though the caveat here is real: 0.71% is a Tennessee state-average estimate from Tax Foundation 2024 data, and Wayne County's actual township or county rate may differ from that figure. Pull the county assessor's bill for any specific parcel before you close. At $168 per month combined, these carrying costs are manageable, but in a market where the gross rent number is uncertain, every fixed cost line matters more, not less.

The primary risk in Wayne County is scale. A population of 16,325 means the rental pool is narrow. Vacancy in a small market does not smooth out across a large tenant base; one difficult unit can sit for months without the statistical law of large numbers working in your favor. Investors who own one or two units here carry meaningful concentration risk relative to a larger market. Regulatory and demographic risks are not supported by data provided, and speculating on them would not serve your underwrite.

Compared to the five neighboring counties in the dataset, Wayne offers the lowest median home price at $187,855 alongside the highest overall score at 78. Carroll County is the only neighbor with a lower median at $180,314, but it scores 63 overall versus Wayne's 78, a 15-point gap that suggests worse fundamentals on the dimensions the model measures. Claiborne, Rhea, and Lincoln all score 68 to 74 with median prices ranging from $228,611 to $266,373, meaning you pay 21% to 42% more to enter those markets for a lower score. Anderson County, at $301,800 median and a 62 overall score, is the one neighbor with actual rent data: a median rent of $1,601 and a rent-to-price ratio of 0.0636, which implies a gross yield around 7.6%. If cash flow is the primary objective, Anderson's rent data gives you something to underwrite from, and its larger population base reduces vacancy risk. Choose Wayne over its neighbors when your thesis is price appreciation on a low entry basis with tolerance for income uncertainty, and when you are willing to do the local legwork to verify rents that the aggregated data cannot yet confirm.