Nashville among top cities where having a roommate will save you money


NASHVILLE, Tenn.--If you want to live in Nashville and save some money, a new study finds you might have to give up your privacy.

The financial advice company SmartAsset released it's5th-annual studyon how much a person can save each month by having a roommate in the 50 largest cities in the United States.

The study found while the median cost of rent has risen by 28%, the average household income has grown by only 19% per Census Bureau data from 2007-2017. SmartAsset then compared the average rent of what it would cost to live alone in a one-bedroom, compares to splitting rent for a two bedroom and tallied how much a renter could save.

In Nashville, SmartAsset calculates a one-bedroom on average costs $1,253 per month. If that renter were to move up to a two-bedroom with a roommate, the cost would be on average $1,523. Splitting that cost would amount to $762 each, resulting in a savings of $491 per month versus just renting a one-bedroom on their own.

The savings ranked 20th among the 50 largest U.S. Cities according to the report, meaning Nashville is among the top places where it pays to have a roommate.

San Francisco had the highest savings gap with a total of $1,096 kept in your wallet if you rented a two-bedroom with a roommate versus renting just a one-bedroom. San Francisco was followed by New York City, San Jose, Boston, Oakland, Los Angeles, San Diego, Washington (D.C.), Miami, and Long Beach (CA), rounding out the top ten.