Median rents, rental comps, and market trends across 12 zip codes in Nashville, TN.
No state income tax, strong job growth, and rents that vary dramatically by neighborhood. Half the city moved here for the bachelorette parties and never left — now they need apartments. The other half works in healthcare. Both groups pay rent.
Median Asking Rent
$2,353
Rent Change (YoY)
-7.3%
Avg Days on Market
65
Active Rental Listings
2,331
Median List Price
$614,500
Average across 12 zip codes
ZIP | Median Rent |
|---|---|
| 37205 | $2,700/mo |
| 37206 | $2,700/mo |
| 37209 | $2,649/mo |
| 37208 | $2,550/mo |
| 37203 | $2,495/mo |
| 37216 | $2,395/mo |
| 37207 | $2,250/mo |
| 37215 | $2,250/mo |
| 37204 | $2,222/mo |
| 37210 | $2,200/mo |
| 37211 | $1,899/mo |
| 37214 | $1,800/mo |
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| Unit Size | Median Rent |
|---|---|
| Studio | $1,362/mo |
| 1 Bedroom | $1,425/mo |
| 2 Bedroom | $1,873/mo |
| 3 Bedroom | $2,973/mo |
| 4 Bedroom | $3,600/mo |
Aggregated median across all Nashville zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 37215 | $1,275,000 |
| 37204 | $1,150,000 |
| 37205 | $1,150,000 |
| 37203 | $679,900 |
| 37206 | $675,000 |
| 37209 | $634,999 |
| 37216 | $594,000 |
| 37208 | $549,500 |
| 37207 | $480,000 |
| 37210 | $464,000 |
| 37211 | $454,000 |
| 37214 | $399,900 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $1,730/mo |
| 1 Bedroom | $1,820/mo |
| 2 Bedroom | $1,990/mo |
| 3 Bedroom | $2,540/mo |
| 4 Bedroom | $3,100/mo |
Fair Market Rents are published annually by HUD for the Nashville 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 Nashville, TN is currently $2,353/month, based on active rental listings across 12 zip codes. Median asking rents have decreased by -7.3% over the past 12 months.
Asking rents vary significantly across the city. ZIP 37205 has the highest median asking rent at $2,700/month, while ZIP 37214 comes in at $1,800/month.
Rental listings in the area spend an average of 65 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the Nashville metro area is $1,990/month. Current median asking rents are above the FMR, which is common in growing markets.
Nashville's got a solid economic base — healthcare, music industry, and a growing tech scene. No state income tax keeps attracting people from higher-cost states, and that's been good for rental demand. The Gulch and Midtown are your premium areas, while south and east of downtown is where investors tend to find better cash flow. One thing to watch: the city cracked down on short-term rentals, so a bunch of Airbnb inventory got pushed back into the long-term market. That added supply in certain neighborhoods. A one-bedroom in 37203 and one in 37211 are completely different markets, so city-wide averages don't tell you much.
Want to look up rental comps and rent estimates for a specific property in Nashville? PropMetrics lets you search any address and get detailed rental data instantly.
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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.
A step-by-step guide to pricing your rental so it rents quickly without leaving money on the table.