Market Highlights

Located in the northeastern corner of Tennessee, the Tri-Cities area refers to Johnson City, Kingsport, and Bristol. The 9-county CSA has a population of 592,933 and is located roughly 100 miles northeast of Knoxville. Perhaps the most well-known attraction in the Tri-Cities is Bristol Motor Speedway, a world-famous NASCAR track. Several of the area’s largest employers are large healthcare chains. Ballad Health employs 13,800 people throughout 29 counties and operates 3 hospitals with bed counts over 300 (Johnson City Medical Center, Bristol Regional Medical Center, and Holston Valley Medical Center). VA Mountain Home Healthcare employs 3,000 people throughout a 41-county region, anchored by the James H. Quillen VA Medical Center, and Frontier Health employs another 1,100. KVAT Food Stores (Food Lion) is headquartered in Abingdon, VA, and Eastman Chemical Company (6,500 jobs) is headquartered in Kingsport. East Tennessee State University (ETSU) is the area’s largest university with an enrollment of 13,378 and 2,400 jobs, and the K-12 school systems employ 6,260 people.

The Johnson City-Kingsport-Bristol, TN-VA Combined Statistical Area is home to 119 multifamily properties and 13,756 units.

Multifamily Highlights

Major Employers

  1. Ballad Health

    13,800 jobs (29 counties) / 2,047 beds  | Learn More
  2. KVAT Food Stores HQ

    6,700 jobs  | Learn More
  3. Eastman Chemical Company HQ

    6,500 jobs  | Learn More
  4. K-12 County School Systems

    6,260 jobs
  5. VA Mountain Home Healthcare System

    3,000 jobs (41-county area)  | Learn More
  6. Advanced Call Center Technologies

    2,650 jobs  | Learn More
  7. East Tennessee State University

    2,400 jobs / 13,738 enrollment  | Learn More
  8. Citi Group

    2,200 jobs  | Learn More
  9. Frontier Health

    1,100 jobs  | Learn More

Other Demand Drivers

  1. Mall at Johnson City

    518,500 SF; JCPenney, Belk, HomeGoods, Dick's  | Learn More
  2. Johnson City Crossing

    323,942 SF; Ross, PetSmart, Home Depot  | Learn More
  3. Tri-Cities Airport

    Allegiant, AA, Delta  | Learn More
  4. Bristol Motor Speedway

    World-famous NASCAR track  | Learn More

Sources & Comments

1. The Johnson City-Kingsport-Bristol, TN-VA Combined Statistical Area is comprised of 9 counties, according to the Office of Management and Budget (1) Carter TN (2) Greene TN (3) Hawkins TN (4) Sullivan TN (5) Unicoi TN (6) Washington (TN) (7) City of Bristol VA (8) Scott VA (9) Washington VA

2. Primary Sources: (1) (2) YardiMatrix (3) (4) CoStar (5) (6) (7) The Freck Group (Stephanie Morr & Shad Freck)

3. Sales Comps are from 11/1/22 – 10/31/23

4. This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy