An in-depth comparative analysis of the Clarksville, Tennessee housing market based on the comprehensive Housing Needs Assessment commissioned by the Clarksville Montgomery County Regional Planning Commission
Study Period: 2024 (October) | Public Release: July 29, 2025
Key Market Indicators
With only 526 available homes against 38,418 owner-occupied units, the market has a critically low 1.4% vacancy rate (healthy: 2-3%).
Clarksville is adding 5,000-6,000 people annually, requiring 7,600 housing units just to maintain current (inadequate) conditions.
21,000 households are cost-burdened, with many paying over 50% of income toward housing. Only 18 homes under $200K available.
Fort Campbell employs 26,800 military + 4,400 civilian personnel, creating constant housing demand with a 21.6% annual movership rate.
Over 25,000 people commute into Clarksville daily, with 8,600 traveling 50+ miles. Massive untapped market for workforce housing.
1,600+ single-family homes currently planned/proposed, but still insufficient to meet the projected 15,193 total unit gap by 2029.
Population & Household Trends
Clarksville skews significantly younger than Tennessee overall, with median age of 30.5 years vs state average of 39.8. This is driven by Fort Campbell's military population.
Projected 11% household growth through 2029 far exceeds Tennessee's projected 4.7% growth, indicating sustained demand for all housing types.
While median income is 4% below state average, projected growth is concentrated in $60K-$100K+ earners, suggesting demand for mid-to-upper market housing.
Current Market Conditions
Market-rate apartments at 96.3% occupied with 18% maintaining waitlists. Healthy markets operate at 94-96%, indicating virtually no availability.
100% occupancy on all subsidized housing with some properties reporting 5-year waitlists. Zero availability for households earning under $40K.
77.6% of available homes priced $200K-$399K, with only 3.4% under $200K and 19% above $400K. Major gap in entry-level inventory.
With only 1.8 months supply vs healthy 4-6 months, buyers have minimal options. This drives prices up and locks out first-time buyers.
Non-conventional rentals (houses, duplexes) comprise 70% of rental market but have only 2.1% vacancy - below healthy 4-6% range.
Average 49 days on market indicates high demand. Combined with rising prices despite volume decline, suggests supply constraints driving market dynamics.
Projected Demand by Segment
Moderate-income rentals ($1,607-$2,409) have the highest demand with 1,805 units needed. This segment serves working professionals and military families.
Higher-income homes ($321K+) show greatest demand with 3,670 units needed, followed closely by moderate-income homes at 3,283 units.
Combined 3,611 units needed at extremely low to low-income rental levels, yet this segment has 100% occupancy and multi-year waitlists currently.
Housing Impact:
Ideal Uses: Hotel, QSR pad sites, retail, truck stop services, workforce housing
Contact: James Church, KW Commercial | TN #367269 | KY #292357
Cell: 707.592.2777 | james.church@kwcommercial.com
*Excludes Northpark Logistics (2.25M SF) job/housing impact - data not yet available. Actual totals will be higher once tenants are announced.
The regional economic expansion validates and intensifies the housing crisis, creating unprecedented urgency for multifamily, single-family, and build-to-rent development.
Regional Economic Growth data compiled by James Church, KW Commercial | Sources: Tennessee Health Services and Development Agency (CON Approvals), Industrial Development Board announcements, local planning commission records, and regional economic development reports.
Strategic Development Insights
Market at 96.7% occupancy with 6,598 rental units needed. Highest demand in $1,600-$2,400/month range. Consider 3-4 story garden style or mid-rise near employment centers.
Single-family rentals at only 2.1% vacancy. Strong opportunity for BTR developments targeting military families with BAH and young professionals seeking single-family lifestyle.
With 8,595 for-sale units needed and 1,600 already planned, substantial gap remains. National builders seeking entitled land for moderate-to-upper price point product.
3,538 senior households (55+) projected by 2029. Demand for assisted living, memory care, and independent living (cottage-style or elevator buildings).
100% occupancy with multi-year waitlists creates strong case for tax credit developments. 3,611 units needed at affordable levels. City exploring Community Land Trust.
Fort Campbell's 31,200 employees create constant demand. Consider short-term/extended stay for PCS moves, or flexible lease terms matching military assignment cycles.
Only 18 homes under $200K available (3.4% of inventory). Massive opportunity for first-time buyer product in $150K-$250K range serving young military and working families.
25,000 daily commuters (8,600 travel 50+ miles) represent untapped market. Market housing near employment centers targeting commute time reduction.
High population density (1,859/sq mi) supports mixed-use. Consider retail/restaurant ground floor with residential above in walkable locations.
Growing 1-2 person households (60.5% of renters) create demand for attached/higher-density for-sale product. Appeals to seniors and young professionals.
Largest for-sale gap is $321K+ (3,670 units). Growing high-income household base supports luxury single-family and high-end multifamily product.
Teachers, police, nurses, municipal employees need $214K-$321K homes (3,283 unit gap). Consider partnering with major employers on down payment assistance.
• Extreme supply shortage across all segments
• Strong demographic growth (5K-6K people annually)
• 3.5% unemployment - lowest in decade
• Rising incomes - median up 14.3% by 2029
• Fort Campbell provides economic stability
• 5-year projection: 7,596 new households
• 15,193 total housing units needed
• 1,600 units already planned (still 13,500+ gap)
• Assessments every 2 years going forward
• Nashville MSA spillover driving growth
• First-mover advantage in undersupplied market
• City supportive of housing development
• Multiple incentive programs available
• Land costs lower than Nashville MSA
• Strong regional economic drivers