How much is a home worth in ZIP code 37406?

The typical home in 37406 is worth $182,921, based on the Zillow Home Value Index.

Are home values rising in 37406?

Home values in 37406 are down 0.2% over the past year, and up 5.8% a year over five years.

What is the typical rent in 37406?

A typical home in 37406 rents for about $1,612 a month, a gross rental yield of 10.6%.

What is the property tax rate in 37406?

The effective property tax rate in 37406 is 0.8% — roughly $1,382 a year on a typical home.

ZIP code 37406 has a population of 13,364 and a median household income of $44,850.

HousingHandbookReference data

…

U.S. ZIP Code · TN37406

Hamilton County · Chattanooga, TN-GA

Typical home value

$182,921^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.2%
5-year / yr: +5.8%
10-year / yr: +9.4%

Relative price

vs U.S.: -35.6%
vs metro: -39.1%
vs state: -30.9%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 37406 is worth $182,921 — 39.1% below the Chattanooga, TN-GA median. Over the past year, values have fallen 0.2%. Homes here rent for a typical $1,612 a month — a 10.6% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,612^[2]
Gross yield: 10.6%^[2]
Cap rate: 6.3%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.8%^[3]
Typical annual tax: $1,382^[3]

#Climate risk

FEMA National Risk Index ratings for Hamilton County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively High
Coastal flood: Not Applicable
Wildfire: Relatively Low
Drought: Relatively Low
Heat wave: Relatively Low
Hurricane: Relatively Low
Tornado: Relatively High
Earthquake: Relatively Moderate
Winter weather: Relatively High

#Who lives here

Population: 13,364^[3]
Median household income: $44,850^[3]

#Migration

Household moves in and out of Hamilton County over a year, from IRS tax-return data.

Net migration: +1,834^[5]
Moved in: 10,809
Moved out: 8,975

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 3
Elementary: 1
Middle: 0
High: 2

Hardy Elementary School
Elementary · Grades PK–5 · Hamilton County
419 students
STEM School Chattanooga
High · Grades 9–12 · Hamilton County
273 students
Hamilton County Collegiate High at Chattanooga State
High · Grades 9–12 · Hamilton County
135 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield10.6%

Net yield (after ~40% expenses)6.3%

Annual rent$19,342

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$925

Loan principal$146,337

Down payment$36,584

Total interest paid$186,645

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio0.74

Monthly cost to own$1,193

Monthly rent$1,612

Owning is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 21st percentile^[1]
Rental yield: 95th percentile^[2]
Property tax: 80th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 37406?: The typical home in 37406 is worth $182,921, based on the Zillow Home Value Index.
Are home values rising in 37406?: Home values in 37406 are down 0.2% over the past year, and up 5.8% a year over five years.
What is the typical rent in 37406?: A typical home in 37406 rents for about $1,612 a month, a gross rental yield of 10.6%.
What is the property tax rate in 37406?: The effective property tax rate in 37406 is 0.8% — roughly $1,382 a year on a typical home.
Who lives in 37406?: ZIP code 37406 has a population of 13,364 and a median household income of $44,850.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

37340 vs 37406 →
TN
Typical home
$189,059
Gross yield
—
37410 vs 37406 →
Chattanooga, TN
Typical home
$152,668
Gross yield
11.5%
30741
Fairview CDP, GA
Typical home
$215,906
Gross yield
7.2%
30728
LaFayette, GA
Typical home
$223,911
Gross yield
—
37397
Powells Crossroads, TN
Typical home
$225,579
Gross yield
—
37380
New Hope, TN
Typical home
$225,702
Gross yield
—

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#Jump to section

U.S. ZIP Code · TN37406

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