Median rents, rental comps, and market trends across 10 zip codes in Chattanooga, TN.
Had gigabit internet before most cities knew what that meant, and it attracted exactly the kind of remote workers and small tech companies you'd expect. No state income tax, affordable entry, and a growing rental market in a small-city package.
Median Asking Rent
$1,395
Rent Change (YoY)
-10.7%
Avg Days on Market
55
Active Rental Listings
779
Median List Price
$356,700
Average across 10 zip codes
ZIP | Median Rent |
|---|---|
| 37409 | $1,850/mo |
| 37408 | $1,600/mo |
| 37405 | $1,495/mo |
| 37404 | $1,455/mo |
| 37402 | $1,395/mo |
| 37407 | $1,325/mo |
| 37403 | $1,300/mo |
| 37406 | $1,300/mo |
| 37411 | $1,290/mo |
| 37412 | $1,185/mo |
Get rental comps for any property in Chattanooga
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| Unit Size | Median Rent |
|---|---|
| Studio | $1,043/mo |
| 1 Bedroom | $988/mo |
| 2 Bedroom | $1,323/mo |
| 3 Bedroom | $1,900/mo |
| 4 Bedroom | $2,020/mo |
Aggregated median across all Chattanooga zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 37405 | $495,000 |
| 37408 | $475,000 |
| 37409 | $425,000 |
| 37402 | $395,000 |
| 37403 | $388,400 |
| 37404 | $325,000 |
| 37412 | $299,000 |
| 37411 | $250,000 |
| 37406 | $229,900 |
| 37407 | $219,900 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $1,320/mo |
| 1 Bedroom | $1,380/mo |
| 2 Bedroom | $1,520/mo |
| 3 Bedroom | $1,900/mo |
| 4 Bedroom | $2,030/mo |
Fair Market Rents are published annually by HUD for the Chattanooga metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across Chattanooga, TN is currently $1,395/month, based on active rental listings across 10 zip codes. Median asking rents have decreased by -10.7% over the past 12 months.
Asking rents vary significantly across the city. ZIP 37409 has the highest median asking rent at $1,850/month, while ZIP 37412 comes in at $1,185/month.
Rental listings in the area spend an average of 55 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the Chattanooga metro area is $1,520/month. Current median asking rents are near or below the FMR for this area.
Chattanooga made a smart bet on municipal gigabit internet years ago, and it's paid off — the city has attracted a tech and startup scene that punches above its weight for a city this size. The Northshore, Southside, and downtown have all seen significant investment. Red Bank and East Ridge are more affordable. No state income tax in Tennessee. Chattanooga is a smaller market with a thinner tenant pool, but the demand is real and growing. VW has a manufacturing plant here too. For investors, the entry points are very reasonable and the growth trajectory looks good. Just be realistic about the tenant pool size — in a city this small, pricing accurately matters because there are fewer renters looking at any given time.
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What rental comps are, what makes a good one, and how to use them to price your rental property accurately.
Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
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