News Summary
Nashville, Tennessee, has experienced a significant rise in rental prices, now leading the state with a median rent for a one-bedroom apartment at $1,620. Despite declines in rental prices in areas like Cookeville and Gallatin, Nashville remains at the forefront of the housing market, driven by new multi-family developments and an influx of high-income renters. Experts suggest that while prices may be declining in some regions, Nashville’s growing demand could trigger a future increase in rental costs.
Nashville, Tennessee witnessed a significant increase in rental prices, leading the state in growth, despite declines in several other regions. A recent rent report by Zumper revealed the median rent for a one-bedroom apartment in Tennessee reached $1,151 as of June 2025, showcasing the ongoing trends in the housing market amid varying economic conditions across the state.
Most Expensive Cities in Tennessee
The report highlighted that Franklin, Nashville, and Murfreesboro hold the top spots for the most expensive cities for one-bedroom rentals in Tennessee. Franklin recorded the highest median rent at $1,760, while Nashville followed closely with a median of $1,620. Murfreesboro ranks third with a median rent of $1,300. Conversely, Cookeville, Columbia, and Gallatin emerged as the most affordable areas for one-bedroom rentals.
Significant Rental Price Declines
In the same report, Cookeville, Columbia, and Gallatin reported the largest declines in rent prices year-over-year. Gallatin experienced a notable month-over-month decrease of 6.1%, indicating a softening rental market compared to the upward trends seen in Nashville and Franklin.
The Nashville Rental Landscape
Despite Nashville leading the pack in rental prices, it is also undergoing a significant decline. According to a September report, Nashville’s rental prices have seen a decrease of 4.8%, making it the fastest declining metro area in the country. The primary factors behind this drop include an influx of new multi-family developments and seasonal adjustments that have altered the dynamics of the rental market.
As of now, Nashville’s average rental price stands at $1,578 a month. This figure remains notably higher when compared to other nearby Southern cities like Birmingham, Louisville, and Memphis. Growth in income levels has been observed, specifically among high-earners in Nashville, with a report highlighting that 928 households earn $1 million or more annually. This demographic trend shows an inclination toward renting rather than owning property, further contributing to the city’s expensive rental market.
Regional and National Trends
Regionally, Nashville is part of a broader trend seen across the Southern United States, where eight out of the ten metro areas with the most significant rental price declines are situated. Nationally, the rental prices have been on a declining trajectory for the past 14 consecutive months, suggesting a shift in the market dynamics as supply has outpaced demand.
Future Outlook for Nashville’s Rental Market
Despite the current decline in rental prices, real estate experts indicate that the increasing demand for housing in Middle Tennessee, driven by business growth and an influx of new residents, could result in a resurgence of rental prices in the near future. This outlook suggests that while renters may benefit from lower prices temporarily, the long-term trends may revert as the market adjusts to sustained economic growth and demand for housing increases.
As Nashville continues to evolve with new developments and emerging economic factors, both potential renters and landlords must remain vigilant of the shifting landscape within Tennessee’s rental market.
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Additional Resources
- WSMV: This TN City Ranks Higher Than Nashville for Most Expensive Rent
- USA Today: Millionaire Renters Surge in Metro South
- WKRN: Nashville Rental Prices Dropping at Fast Rate
- Tennessean: Nashville Downtown Empty Apartments Renters
- WKRN: Report on Housing Markets in Middle TN Counties
- Wikipedia: Nashville
- Google Search: Nashville Rent Market
- Google Scholar: Nashville Rental Prices
- Encyclopedia Britannica: Nashville Tennessee
- Google News: Nashville Rental Market
Author: HERE Nashville
The NASHVILLE STAFF WRITER represents the experienced team at HERENashville.com, your go-to source for actionable local news and information in Nashville, Davidson County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as CMA Fest, Bonnaroo Music & Arts Festival, and Nashville Pride Festival. Our coverage extends to key organizations like the Nashville Area Chamber of Commerce and Nashville Health Care Council, plus leading businesses in healthcare, automotive, and technology that power the local economy such as HCA Healthcare, Bridgestone Americas, and Asurion. As part of the broader HERE network, including HEREBristol.com, HEREChattanooga.com, HEREKnoxville.com, and HEREMemphis.com, we provide comprehensive, credible insights into Tennessee's dynamic landscape.
