Nashville's median rent outpaces national, state averages over last year

 

NASHVILLE, Tenn.--The July report for Nashville from rental marketplace Apartment List finds rents in Music City have increased 1.2% over the past month with a median rent of $1,160 for a two-bedroom.

Over the past 12 months, rent growth in Nashville has grown by 2.2%, outpacing the state and national averages according to the report.

Despite the average rate of a two-bedroom in Nashville going for $1,160 per month, it still isn't the highest such average. Among the 10 largest cities in Tennessee, Franklin is the most expensive with a median two-bedroom rent of $1,320.

Franklin was followed by Smyrna ($1,270), Hendersonville ($1,250), Nashville, and Murfreesboro ($1,120) rounding out the top ten. Murfreesboro has seen the fastest growth with 3.7% over the last 12 months according to the report.

For one-bedroom rates, Franklin was highest with a median rent of ($1,070), followed by Smyrna ($1,040), Hendersonville ($1,010), Nashville ($940), and Murfreesboro ($940).

SOURCE

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