Nashville-2018

Nashville 2018: Where can you get the most bang for your buck when renting in Middle Tenn.?

New information from HotPads shows you can get a little over 1,800 square feet on average for 99-cents per square foot when you rent a home or apartment in Mt. Juliet. 

In fact, there are a lot of great opportunities for renters across the south. 

“The Nashville-Metro has been seeing declines in rent growth for some time. Rent growth peaked around six-percent in the summer of 2016 and the story since has been huge amounts of building in Nashville, which has led to some price relief," said Joshua Clark, HotPads’ economist. 

In Nashville, you can get around 1,300 square feet for about $1,500. That averages out to about $1.16 per square foot, which is pretty good when you look at the national average. 

And if you're willing to deal with the traffic, and don't mind not being in the middle of all the action, you can get even better deals in places like Wilson and Rutherford counties. 

Clark said, “Those were substantially below the national average. So, the national average is about $1.20 per square foot, whereas those were around $1.” 

In Mt. Juliet, you'll pay 99-cents a square foot for a place that's just larger than 1,800 square feet. In Lebanon, $1.09 for almost 1,600 square feet. In Smyrna, 99-cents for 1,400 square feet.  

In La Vergne, you'll get about the same square footage for 96-cents. And in Murfreesboro, you can get just under 1,400 square feet for $1.02 per square foot. 

City Rank Median Rental Size Rent price per sq. ft.
Mt. Juliet 1 1,805 sq. ft. 

 $0.99

Lebanon 2 1,585 sq. ft. 

$1.09

Smyrna

3 1,400 sq. ft. 

$0.99

La Vergne

4 1,392 sq. ft. 

 $0.96

Murfreesboro 5 1,389 $1.02

 

This is good news, especially when compared to larger cities around the U.S. 
 
“Unfortunately, and also unsurprisingly, a lot of the country is not affordable and you’re going to be crammed into small spaces. The big coastal cities that have a lot of horror stories about affordability are going to come to mind. San Francisco, San Jose, Boston, New York, D.C. Those places are going to put you in a small box and it’s going to cost you a pretty penny," Clark said. 

Denver and Boston have the smallest rentals available at a costly price per square foot, making it harder for renters to maximize their space on a budget.  

You can get the most bang for your buck in Las Vegas and Raleigh, North Carolina. 

Click here to read the full report


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