New traditionally styled homes in Westhaven, an upscale planned community in Franklin, Tennessee. … [+]
In recent studies, we analyzed and determined the most expensive ZIP codes in a series of Southern states, including Louisiana, Mississippi, Arkansas, Virginia, and North Carolina. We wanted to turn now to another state in the U.S. South — Tennessee.
Tennessee saw some explosive growth in home values over the last five years. While this was a general trend across the country, the home value appreciation in Tennessee housing markets has been remarkable. Read on to find out the most expensive ZIP codes in Tennessee in 2024, based on the latest data from Zillow’s home value index.
The Most Expensive ZIP Codes in Tennessee
Using data from Zillow’s home value index, we analyzed tens of thousands of ZIP codes across America in order to assemble our list of the top 25 most expensive ZIP codes in Tennessee. As part of our analysis, we took into consideration the latest monthly home values Zillow has — December 2024 — as well as the average of 12 months of median home values from January 2024 to December 2024.
Some very clear patterns emerge from this analysis. The majority of the most expensive ZIP codes in Tennessee are contained within the Nashville metropolitan area; that said, the Nashville metro area is big. Below are the 25 most expensive ZIP codes in Tennessee.
The Top 5 Most Expensive ZIP Codes in Tennessee
ZIP code 37046 is the most expensive one in Tennessee. It is south of Nashville and covers several towns, such as College Grove, Arno, and Bethesda. The ZIP code includes the Troubadour Golf and Field Club. The median household income in ZIP code 37046 is $162,712 and the mean household income is $239,336. Like ZIP codes across the U.S. South, home values in this Tennessee ZIP code really took off. From a median of $709,135 in December 2019, home values rose by an impressive 68.5% over the next five years, reaching well over $1.194 million. Over just the last year, the median home value increased by 4.5%.
Conveniently, and not surprisingly, the second most expensive ZIP code in Tennessee borders the first on its north side. ZIP code 37014 is centered on Arrington and extends east to Almaville. This ZIP code is south of Nashville, though closer to the city than the No. 1 most expensive ZIP code. Incomes here are high but not as high as in ZIP code 37046. The median household income in 37014 is $104,938, while the average household income is $197,098. More than one third of households in ZIP code 37014 earn $200,000 or more per year. The median home value, back in December 2019, was $664,872, which was expensive at the time. After five years, though, the median home value soared by 78.4%, to reach more than $1.186 million in December 2024.
The third most expensive ZIP code — 37027 — is centered on Brentwood, also south of Nashville. This is the third, and not remotely the last, most expensive ZIP code that covers part of the Nashville suburbs. The incomes in ZIP code 37027 are high, with 38.6% of households earning $200,000 or more per year. The median household income here is $156,002. The mean household income is much higher, at $231,057. Home value growth in 37027 has been massive. Back in December 2019, the median home value was $650,246. By December 2024, the median had risen by 74.4%, and over just the last year, by 5.7%. IT now stands at just under $1.134 million.
The fourth most expensive ZIP code is southwest of downtown Nashville, covering Forest Hills. ZIP code 37215 includes a number of communities, such as Burton Hills, Burton Valley, Hounds Run, Otter Creek, Green Hills, and Castleman-Hobbs. More than two-fifths of households here earn $200,000 or more per year, which makes sense considering the median household income is $151,156 and the average $226,979. Home value appreciation here wasn’t as great as the other top five ZIP codes — but it was still 63.4% in five years: From a median home value of $678,578 in December 2019, it reached more than $1.108 million in December 2024.
The No. 5 most expensive ZIP code in Tennessee is 37350, which covers Lookout Mountain, a very nice suburb of Chattanooga, southwest of that city. Nearly half of households (47.3%) earn $200,000 or more a year. The median household income is $195,063, while the average household income is far higher, at $305,525. Home value appreciation in 37350 has been startling. From a median of $566,589 in December 2019, home values climbed by 73.4%, and now stands at $982,577.