GITNUX MARKETDATA REPORT 2024

Statistics About The Average Rent In Tennessee

The average monthly rent in Tennessee is $1,207.

Last Updated: June 23, 2024

How we write

In this post, we provide a comprehensive overview of the average rent landscape in Tennessee, backed by a range of statistical insights. From specific city averages to state-wide trends, we delve into the figures that define the rental market in Tennessee. Whether you’re a potential tenant, a landlord, or simply interested in the state’s housing dynamics, these statistics offer valuable insights into the cost of living and rental trends across the region.

Statistic 1

"In Clarksville, TN, the average rent for a one-bedroom apartment is $850."

Statistic 2

"The average rent in Tennessee is 10% lower compared to the national average."

Statistic 3

"The vacancy rate for rental properties in Tennessee stands at 6%."

Statistic 4

"Over the last 5 years, Tennessee's average rent has grown by nearly 20%."

Statistic 5

"The average rent for a one-bedroom apartment in Tennessee is approximately $1,000 per month."

Statistic 6

"Students make up a significant portion of renters in Tennessee, with an average rent of $750 for shared accommodation."

Statistic 7

"Landlords in Tennessee require a security deposit equal to one month's rent on average."

Statistic 8

"In urban areas of Tennessee, the average rent for a studio apartment is approximately $900."

Statistic 9

"Murfreesboro, TN, has an average rent of $1,100 for a two-bedroom apartment."

Statistic 10

"Chattanooga reports an average rent of $1,150 for a two-bedroom apartment."

Statistic 11

"On average, renting a three-bedroom house in Tennessee costs around $1,500 per month."

Statistic 12

"The cost of rent in Tennessee has seen an annual increase of 6% over the past decade."

Statistic 13

"Senior communities in Tennessee have an average rent of $1,200 for specialized housing."

Statistic 14

"In Knoxville, the average rent for a two-bedroom apartment is around $1,200."

Statistic 15

"Rural areas in Tennessee often have average rents lower than $800 for a one-bedroom apartment."

Statistic 16

"Memphis, Tennessee, shows an average rent of $970 for a one-bedroom apartment."

Statistic 17

"Nashville, the capital of Tennessee, has an average rent of $1,300 for a one-bedroom apartment."

Statistic 18

"In Tennessee, utility costs for rental properties can add an average of $200 to the monthly rent."

Statistic 19

"Over the past year, rent prices in Tennessee have increased by 7%."

Statistic 20

"The average rent-to-income ratio in Tennessee is 28%."

In conclusion, the average rent in Tennessee reflects a diverse landscape with varying costs across different cities and property types. The state has experienced significant rent growth over the past few years, with some areas seeing higher than average increases. Student renters play a significant role in the rental market, with shared accommodations offering lower average rents. While utility costs can add to the monthly rent burden, the rent-to-income ratio in Tennessee remains relatively stable. Overall, the statistics present a detailed picture of the rental market in Tennessee, showing both the affordability and challenges faced by renters in the state.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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