Nashville attracting more potential renters from Boston, New York: report


Nashville is reportedly attracting interest from residents of three of the country's most populated and expensive cities.

According to a new study conducted by HotPads.com, renters searching in the Nashville metro from outside the area are most likely to be from the Boston metro, followed by New York and Chicago.

However, the total share of outsiders searching for homes in the area has decreased as the cost of living has risen.

Nashville's median rent for 2019 is currently $1,560, which is a 3.2 percent increase from last year.

In 2019, the majority of searches from locals increased to 63.9 percent, compared to 56.6 percent searches in 2018.

Overall, the study found that more residents are searching for homes and apartments in more affordable places as rent prices continue to rise.

Renters in 44 of the 50 largest U.S. metro areas are now most likely to be searching outside of their current area to cities with a less expensive median rent.

SOURCE

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