NASHVILLE, Tenn. (WKRN) — Looking to move to Music City? New data suggests those looking to move to Nashville should expect to pay no less than $1,790 a month for a one-bedroom apartment.
Apartment rates are soaring again in Nashville. In fact, data shows the average apartment rent has significantly increased by 29% over the last year alone.
A new study by Zumper tracked rates across 100 cities nationwide and found that as of June 2022, Nashville is the 17th most expensive rental market in the United States. Data shows to rent a one-bedroom apartment in Music City, renters should expect to spend at least $1,790 a month and $1,840 a month for a two-bedroom.
Here’s how Nashville compares to other US cities with rent on the rise:
- Greensboro, North Carolina
- Providence, Rhode Island
- Nashville, Tennessee
- Honolulu, Hawaii
- Durham, North Carolina
Crystal Chen with Zumper said if rent prices continue to increase, people can slowly find themselves straying farther and farther away from Music City.
“People are going to start getting priced out and will probably slowly migrate out to the Metro area,” said Chen, “Typically people don’t move too far away from where they grew up, since a lot of their family and friends are nearby. So, they generally stick to nearby cities, but probably just more on the outskirts or in other areas of the Metro area.”
Chen estimated Nashville could see a small drop in rental rates this Fall, but said for now, overall prices continue to trend upward.