All homes and bedroom counts
RENTAL MARKET INTELLIGENCE
Nashville, TN
Nashville merits selective investigation by buyers prioritizing employment growth and positive household migration, but yield-focused investors and those unwilling to absorb leasing or flood risk should avoid it.
Median price$458k
Median rent$1,810
Gross yield4.8%
Job growth▲ 0.6%
Composite Market ScoreRank #426 of 571 scored US market areas
Direct rental answer
How much is rent in Nashville, TN?
Zillow's metro-wide Observed Rent Index is $1,810 per month for 2026-06-30. That is up 0.38% from a year earlier.
Studio, 1BR and 2BR listings
Occupied rental units paying rent
Two-bedroom standard
These figures are not averaged together. Zillow and Realtor describe asking-rent markets, ACS measures rent paid by surveyed households, and HUD publishes administrative bedroom standards.
Exact county schedules
HUD rent benchmarks inside Nashville
Every row keeps its own county FIPS schedule. No county is selected as a metro proxy and no synthetic metro FMR is calculated.
| County | Studio | 1 BR | 2 BR | 3 BR | 4 BR |
|---|---|---|---|---|---|
| Davidson County, TNFIPS 47037 | $1,507 | $1,578 | $1,730 | $2,211 | $2,696 |
| Rutherford County, TNFIPS 47149 | $1,507 | $1,578 | $1,730 | $2,211 | $2,696 |
| Williamson County, TNFIPS 47187 | $1,507 | $1,578 | $1,730 | $2,211 | $2,696 |
| Sumner County, TNFIPS 47165 | $1,507 | $1,578 | $1,730 | $2,211 | $2,696 |
| Wilson County, TNFIPS 47189 | $1,507 | $1,578 | $1,730 | $2,211 | $2,696 |
| Maury County, TNFIPS 47119 | $1,131 | $1,138 | $1,349 | $1,701 | $1,912 |
| Robertson County, TNFIPS 47147 | $1,507 | $1,578 | $1,730 | $2,211 | $2,696 |
| Dickson County, TNFIPS 47043 | $1,507 | $1,578 | $1,730 | $2,211 | $2,696 |
| Cheatham County, TNFIPS 47021 | $1,507 | $1,578 | $1,730 | $2,211 | $2,696 |
| Macon County, TNFIPS 47111 | $847 | $887 | $972 | $1,290 | $1,504 |
| Hickman County, TNFIPS 47081 | $827 | $832 | $992 | $1,277 | $1,664 |
| Smith County, TNFIPS 47159 | $796 | $801 | $1,051 | $1,368 | $1,392 |
| Cannon County, TNFIPS 47015 | $1,507 | $1,578 | $1,730 | $2,211 | $2,696 |
| Trousdale County, TNFIPS 47169 | $1,507 | $1,578 | $1,730 | $2,211 | $2,696 |
The read
Why this market scores where it does
Nashville merits selective investigation by buyers prioritizing employment growth and positive household migration, but yield-focused investors and those unwilling to absorb leasing or flood risk should avoid it. CES employment grew 0.6%, while tax-filing migration was a net inflow of 9,480 households.
The median home value was $457,809 after a 0.91% annual decline, while median asking rent was $1,810 after only 0.38% growth. That is a softer entry backdrop, not stronger income performance: gross yield was 4.75%, and price remained 5.36 times median income.
Supply is the main operating counterweight: 16,562 permits, 4.4 months of inventory, and price drops on 25.21% of listings show competition for buyers. Inland flood is the dominant hazard, and annual climate loss equals 0.1432% of building value, making property-level exposure and insurance terms critical to the decision.
Frequently Asked Investor Questions
Are the demand signals positive?
CES jobs grew 0.6%, and tax-filing data show 51,433 households moved in versus 41,953 moved out, for net migration of 9,480.
What are the current entry and rental economics?
Median home value is $457,809, median asking rent is $1,810, gross yield is 4.75%, and price-to-income is 5.36.
What physical hazard is most relevant?
Inland flood is the dominant hazard, with an annual climate loss ratio of 0.1432% of building value.
Investor Quick Takeaways
Gross Yield: 4.8%
Computed from the current Zillow rent and home-value medians.
Rent Momentum: ▲ 0.38%
Zillow ZORI rent growth trend over trailing 12 months.
Investor Activity: 9.2%
Originated investment purchase share (CFPB HMDA).
Climate Exposure: FEMA NRI
Annualized loss ratio evaluated for flood & hurricane risk.
Put the evidence to work
Test the market, then test the deal
Keep Nashville as the starting point or move into a more specific property and rent check.
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Market pulse
The current market in eight signals
Fast-moving Redfin conditions sit beside the slower fundamentals so a buyer can separate today's negotiating climate from the long-run investment case.
Months of supply4.4 mo.▲ from 4.2 mo. a year ago
Median days on market62 days▲ from 55 days a year ago
Listings with price drops25.2%▼ from 27.1% a year ago
Sale-to-list ratio98.3%2026-05-01
Home value growth▼ 0.9%Zillow ZHVI · trailing 12 months
Rent growth▲ 0.38%Zillow ZORI · trailing 12 months
Gross rental yield4.8%Rent × 12 ÷ price
Payroll job growth▲ 0.6%CES · 12m to 2026-06
Release-to-release evidence
What actually changed
This comparison exists because at least one underlying source period advanced. Rebuilding the same data never creates a new observation.
Published score held steady39→39
0 ptsThe published component scores did not move in this release.
Weights were unchanged at metro-2026-07-v2-omb2023, so the movement comes from refreshed evidence and percentile ranks.
The named source periods advanced, but the measured values on this page held steady.
The one chart
Rents versus prices, indexed to 2019
Both series start at 100. The gap between the lines is the investment case, and which line is closing it tells you what kind of market this is.
Reindexed Price vs. Rent Growth
2019 = 100 · annual · 2019–2026
Since 2019, prices are up 53% and rents 31%. Prices running ahead of rents is what compresses yield. ✓ recomputed from series
Composite breakdown
What each component measures
Weights are published, not hidden, and the arithmetic is shown. Five components, each measured as a national percentile across all tracked metros.
Published arithmeticComponent × weight = points
39| Signal | Score | Weight | Points |
|---|---|---|---|
| Job growth | 70 | 30% | 21.00 |
| Rent trend | 9 | 25% | 2.25 |
| Affordability | 44 | 15% | 6.60 |
| Supply pressure | 11 | 15% | 1.65 |
| Climate risk | 50 | 15% | 7.50 |
| Published score | 39 | ||
Nashville, TN scoreRank #426
39Job growth70/100
CES employment grew 0.6% -> a positive but modest demand-side signal.
Rent trend9/100
Median asking rent rose 0.38% and gross yield was 4.75% -> income momentum and current yield are limited.
Affordability44/100
Rent was 25.43% of median income while price was 5.36 times income -> renting looks more affordable than buying at the metro medians.
Supply pressure11/100
Permits totaled 16,562 and months of supply was 4.4 -> buyers have meaningful existing and prospective inventory to evaluate.
Climate risk50/100
Inland flood is the dominant hazard and annual climate loss ratio is 0.1432% -> water exposure and insurance terms require property-level review.
The numbers
What this market costs and what it earns
Every derived ratio below recomputes from the same source record used by the article and score.
ZHVI Median Price
$458k
YoY ▼ 0.9%
ZORI Median Rent
$1,810
YoY ▲ 0.38%
Gross Rental Yield
4.8%
Rent × 12 ÷ price
$1,810 × 12 ÷ $457,809
Job Growth (YoY)
▲ 0.6%
CES payrolls
Job signal 70/100
Median Household Income
$85k
Census ACS 5-year
Rent Burden
25.4%
Annual rent ÷ household income
Price-to-Income
5.4x
Median value ÷ household income
HUD 2BR Fair Market Rent
$1,730
Market rent 104.7% of FMR
Historical affordability context
Compare aligned 2019 and 2024 asking-rent and nominal household-income endpoints across the direct-overlap metro set.
Independent rent evidence
One market, several legitimate rent benchmarks
These releases observe different homes and different moments. RentMarker keeps them separate: ZORI remains the scoring baseline, while the other sources test how sensitive the market story is to bedroom mix and measurement method.
Monthly benchmark5 of 5 reported values
Zero-based scale$1,810Primary RentMarker baseline
2026-06-30
All homes and bedroom counts
A smoothed metro rent index for observed rentals; it is the primary rent used by RentMarker scores and career ratios.
View source release ↗$1,479−$331 vs ZORI
2026-05
Studio, 1BR and 2BR listings
The median advertised rent in Realtor.com's 50-largest-metro rental report; source NAs remain unavailable.
View source release ↗$1,578−$232 vs ZORI
FY2026 FMR
One-bedroom standard
An administrative gross-rent benchmark used by HUD programs; it is neither a listing median nor a prediction of one lease.
View source release ↗$1,730−$80 vs ZORI
FY2026 FMR
Two-bedroom standard
An administrative gross-rent benchmark used by HUD programs; it is neither a listing median nor a prediction of one lease.
View source release ↗$1,528−$282 vs ZORI
ACS 2024 5-year
Occupied rental units paying rent
A five-year survey estimate of contract rent plus applicable tenant-paid utilities; it is not a current asking-rent index.
View source release ↗Take the next step
Keep Nashville as context, then replace market-wide evidence with the candidate property's facts.
Direct local rental evidence
Recent leases and rental-market liquidity in Nashville, TN
These Apartment List observations match the exact metro CBSA code 34980. They are kept separate from Zillow asking rent, Census occupied-home rent and property-level comparables.
Direct recent-lease rent history
Monthly overall-rent index; missing observations are not filled from another geography.
Recent-lease rent$1,3732026-07 · -2.3% year over year
Rental vacancy8.1%2026-07 · +0.2 percentage points year over year
Time on market33 days2026-07 · +3.0 days year over year
Measured rent retention
How much of gross yield survives the first two measured deductions?
This bridge subtracts direct rental vacancy and effective property tax only. It is not net yield, NOI, cap rate or property cash flow.
measured retention property tax vacancy
- Gross yield
- 4.7%
- Vacancy
- 8.1%
- Effective tax
- 0.5%
- Retained yield
- 3.9%
Regional price level
What feels expensive inside Nashville
BEA compares each category with the United States, which equals 100. This is a 2024 price-level comparison—not annual inflation.
BEA Regional Price Parities · 2024US = 100
Occupation wage lens
How asking rent sits against major local occupations
Annualized Zillow asking rent is divided by each BLS annual median wage. This is a screening ratio for one wage, not a household budget or affordability verdict.
Six largest published major groupsannual rent ÷ median wage
Office and Administrative Support Occupations$47,960 median wage
45.3%
Transportation and Material Moving Occupations$43,280 median wage
50.2%
Food Preparation and Serving Related Occupations$32,150 median wage
67.6%
Sales and Related Occupations$37,880 median wage
57.3%
Management Occupations$126,320 median wage
17.2%
Healthcare Practitioners and Technical Occupations$83,100 median wage
26.1%
Supply pipeline
What is being built, and for whom
Permits are the 12-to-24 month early warning. The total matters less than the mix: apartments compete with a rental the day they open.
National supply context
Compare this authorization pipeline with asking-rent growth, jobs and for-sale liquidity across the evidence-complete metro set.
Building permits by structure type
units per year · latest year annualised
16,418 units authorised in 2026, 20% of them in 5+ unit buildings. A meaningful share is apartments, which discount first when they lease up. ✓ recomputed from series
Who is arriving, and who is buying
Demand, and the competition for it
Tax filings say how many households moved and what they earn; mortgage disclosures say how many local purchases went to someone who will not live there. Moves between counties inside this metro are netted out of both flow figures.
Net Household Move
+9,480
51,433 in vs 41,953 out (IRS SOI)
▲ 18.4% of arriving households
Mover Income Gap
+$10,612
Arriving $87,637 vs leaving $77,025
Average AGI per tax return (IRS SOI)
Investor Purchase Share
9.2%
2,819 of 30,687 originated purchase loans
CFPB HMDA 2024
Dominant Hazard
inland flooding
0.143% building value annual loss ratio
FEMA NRI · risk type: water
Compare yield and FEMA exposure →Households arrive mainly from: Montgomery County · Shelby County · Los Angeles County · Orange County · Hamilton County
✓ 51,433 in − 41,953 out = 9,480 netDirect market links
Where tax-return households moved from and to
These are the largest flows where both counties map to a RentMarker market area. They are a documented subset of the all-US IRS totals above.
Leading inbound markets
- Los Angeles, CA1,730 arriving
- Clarksville, TN1,715 arriving
- Chicago, IL1,248 arriving
Leading outbound markets
- Clarksville, TN2,369 leaving
- Atlanta, GA833 leaving
- Knoxville, TN741 leaving
The other side
What would make this a bad buy
Generated from the same figures with the instruction to argue against the score, and published unedited. A page that only agrees with itself is an advertisement.
Three ways the case breaks
- Median asking rent rose only 0.38%, while gross yield was 4.75%, limiting current income performance.
- The market recorded 16,562 permits, 4.4 months of supply, and price drops on 25.21% of listings, creating supply and repricing pressure.
- Inland flood is the dominant hazard, and the annual climate loss ratio is 0.1432% of building value.
Inside this metro area
Move from the market-area average to local evidence
Use the available county and city pages to add local price, rent, housing, migration and hazard context to the market-area view.
County records
County · TNDavidson County$435k home · 5.0% yieldCounty · TNRutherford County$420k home · 4.9% yieldCounty · TNWilliamson County$931k home · 2.8% yieldCounty · TNSumner County$448k home · 4.5% yieldCounty · TNWilson County$508k home · 4.4% yieldCounty · TNMaury County$406k home · 5.0% yieldCounty · TNRobertson County$374k home · 5.3% yieldCounty · TNDickson County$366k home · 5.6% yield
Statistical peers
Market areas that behave like Nashville
Nearest neighbours on price level, income, yield and job growth — not on geography. Every market page gets a different peer set, which is the point.
| Market area | Score | Price | Rent | Yield | Job Growth |
|---|---|---|---|---|---|
| Nashville, TN (Target) | 39 | $458k | $1,810 | 4.8% | ▲ 0.6% |
| Richmond, VA | 59 | $400k | $1,772 | 5.3% | ▲ 0.2% |
| Albany, NY | 75 | $378k | $1,679 | 5.3% | ▲ 0.8% |
| Charlotte, NC | 46 | $391k | $1,750 | 5.4% | ▲ 1.1% |
| Boise City, ID | 67 | $497k | $1,874 | 4.5% | ▲ 1.0% |
Provenance
Where every figure came from
“Checked nightly” means every source is re-pulled and re-verified each night. It does not mean every source moves nightly — the release column tells you how fresh each number can possibly be.
| Dataset Source | Method | Release Period | Pulled Date |
|---|---|---|---|
| Census ACS 5-year — household income and gross rent | direct | ACS 2024 5-year | 2026-08-05 |
| Census ACS 5-year — historical household income | direct | ACS 2019 and 2024 5-year | 2026-08-05 |
| Census ACS 5-year — population | direct | ACS 2024 5-year | 2026-07-26 |
| Apartment List Rent Estimates — recent-lease rent index | direct | Apartment List 2026-07 | 2026-08-08 |
| Apartment List Time on Market — listing liquidity | direct | Apartment List 2026-07 | 2026-08-08 |
| Apartment List Vacancy Index — rental vacancy | direct | Apartment List 2026-07 | 2026-08-08 |
| BEA County Personal Income — income and population | direct | 2024 County Personal Income (released 2026-02-05); history 1969-2024 | 2026-08-03 |
| BEA Regional Price Parities — metropolitan price levels | direct | 2024 Regional Price Parities (released 2026-02-19); history 2008-2024 | 2026-08-03 |
| BLS CES — payroll employment | direct | CES SM current | 2026-07-26 |
| BLS LAUS — resident employment | direct | LAUS current | 2026-07-26 |
| BLS OEWS — occupation employment and wages | direct | May 2025 OEWS estimates (released 2026-05-15) | 2026-08-03 |
| BLS QCEW — county employment and wages | direct | annual county employment and wages 2021-2025; latest 2025 vs 2024 | 2026-08-02 |
| OMB/BLS delineation — metro geography | direct | OMB July 2023 delineation | 2026-07-30 |
| Census Building Permits Survey — permitted units | direct | BPS through 2026 | 2026-07-26 |
| Census ACS 5-year — city population, households and housing | direct | ACS 2024 5-year | 2026-07-29 |
| Census ACS 5-year — county housing value, tenure and stock | direct | ACS 2024 5-year | 2026-07-30 |
| Census ACS 5-year — cities and communities | direct | ACS 2024 5-year | 2026-07-30 |
| Census ACS five-year — ZCTA housing and income | direct | ACS 2024 5-year ZCTA | 2026-08-08 |
| FEMA National Risk Index — hazard loss ratios | modelled | NRI counties (FEMA ArcGIS) | 2026-07-26 |
| FHFA House Price Index — annual county appreciation | direct | annual county HPI history 1975-2025; latest 2025 | 2026-08-02 |
| HMDA / CFPB — purchases by occupancy type | direct | HMDA 2024 purchase originations | 2026-07-26 |
| HUD CHAS — renter burden by HAMFI income band | direct | HUD CHAS 2018-2022 ACS 5-year (released 2025-12-23) | 2026-08-03 |
| HUD Fair Market Rents — Section 8 standard | direct | FY2026 FMR | 2026-07-26 |
| HUD USPS crosswalk and Small Area FMRs — ZIP rent fallback | direct | ZIP-CBSA 2025Q4 + SAFMR FY2026 | 2026-07-26 |
| HUD-USPS ZIP-to-county residential-address crosswalk | direct | HUD-USPS 2026Q1 | 2026-08-09 |
| IRS SOI — county migration and mover income | direct | SOI migration 2022-2023 | 2026-07-26 |
| Freddie Mac PMMS — mortgage rates | direct | week of 2026-07-30 | 2026-08-06 |
| Census ACS 5-year — effective property tax | direct | ACS 2024 5-year | 2026-08-06 |
| Realtor.com Economic Research — county listing inventory | direct | county inventory 2026-06 | 2026-07-28 |
| Realtor.com Rental Report — top-50 asking rents | direct | top-50 rental asking rents 2026-05 | 2026-08-05 |
| Redfin Data Center — inventory, days on market, and price cuts | direct | metro tracker through 2026-05-01 | 2026-07-26 |
| Redfin Data Center — ZIP resale activity and supply | direct | ZIP rolling 3 months through 2026-06-30; updated 2026-07-03 | 2026-08-12 |
| USDA ERS — Rural-Urban Continuum Codes | direct | USDA ERS 2023 Rural-Urban Continuum Codes | 2026-08-02 |
| Zillow ZHVI and ZORI — county values and rents | direct | county ZHVI/ZORI 2026-06 | 2026-07-26 |
| Zillow ZHVI — metro home values | direct | Metro_zhvi_uc_sfrcondo_tier_0.33_0.67_sm_sa_month.csv | 2026-07-26 |
| Zillow ZHVI — city home values | direct | zillow_zhvi_city.csv | 2026-07-29 |
| Zillow ZORI — metro market rents | direct | Metro_zori_uc_sfrcondomfr_sm_sa_month.csv | 2026-07-26 |
| Zillow ZORI — city market rents | direct | zillow_zori_city.csv | 2026-07-29 |
| Zillow ZORI - metro market rents, not seasonally adjusted | direct | Metro_zori_uc_sfrcondomfr_sm_month.csv | 2026-08-15 |
| Zillow ZORI — ZIP market rents | direct | ZORI ZIP 2026-06 | 2026-08-08 |