Skip to content

Nashville Rental Market Update

by Yarusi Holdings LLC on

With all the talk about the market being a seller’s market, we wanted to give you some insight into Nashville’s rental market. 

Yarusi Holdings has been looking within the Nashville MSA, but mainly focused on Murfreesboro, TN. However, that does not stop us from keeping our eyes on Davidson County/Nashville area. 

After some digging, we found a rent report from Rent.com that breaks down what Nashville’s average rent is currently sitting at. 

Based on a Rent.com Report: 

Right now the average rent in Nashville is between $1,790 and $2,854 in 2022.

Screen Shot 2022-06-07 at 1.42.12 PM

The Apartment rent ranges and proportions it is within the whole Nashville Market:

Screen Shot 2022-06-07 at 1.41.59 PM

The current trends:

As you can see rental rates have increased over the past few months. Right now we are not predicted to see a giant drop in rates, however, we might be able to predict that the rates will steady out with the housing market.

Screen Shot 2022-06-07 at 1.41.40 PM
Price growth correlations to population growth:

According to the data that WKRN has collected, Nashville has claimed the third-highest increase in residents from January 2021 through March 2022.

According to the Census Bureau, from 2020 to 2021 Nashville MSA had a net in-migration of approximately 13,234. That translates to about 36 people moving a day to the Nashville region.

 

                                             Read Full Report                                                      

What are the most affordable neighborhoods in Nashville, TN?

The most affordable neighborhoods in Nashville are East Nashville where the average 1-bedroom apartment rent goes for $900, McMurray, where renters pay $999 on average for a 1-bedroom apartment, and Heron Walk, where the average 1-bedroom apartment rent goes for $1,025. If you're looking for other great deals, check out the listings in Edgehill ($1,204 for a 1-bedroom apartment) or Southeast Nashville ($1,215 for a 1-bedroom apartment), compared to the $2,080 average for a Nashville 1-bedroom apartment.

What are the most popular neighborhoods in Nashville, TN?

The most popular neighborhoods in Nashville are Downtown, where the average 1-bedroom apartment rent goes for $2,357, Edgefield, where renters pay $1,521 on average for a 1-bedroom apartment, and Rolling Mill Hill, where the average 1-bedroom apartment rent goes for $2,002. If you're looking for other popular neighborhoods, check out the listings in SoBro ($2,600 for a 1-bedroom apartment) or The Gulch ($2,409 for a 1-bedroom apartment), compared to the $2,080 average for a Nashville 1-bedroom apartment.

                                            Read Rent.com Report