The topic of at present’s snapshot is for Downtown, Nashville, Tennessee. Primarily based on our evaluation, Nashville’s year-over-year common rents elevated throughout all bed room varieties.
Our customary neighborhood evaluation makes use of a 12-month “LookBack” to ascertain a mean baseline lease. The outcomes from the 12-month LookBack evaluation are offered within the tables under for Nashville 1–2 bed room rents from February 1, 2021 – February 1, 2022:
Because the desk exhibits, 1BR items elevated by 9% from final 12 months or $163 extra, and the 2BR items elevated by 15% from final 12 months or $420 extra. As demonstrated by the desk, year-over-year efficiency for all chosen bed room varieties elevated in lease costs from final 12 months.
Market Exercise: Nashville, Tennessee
Are you interested by investing in Nashville? Location is a crucial issue to think about when discovering a worthwhile marketplace for a rental property. The important thing traits of a superb location embody a robust financial system, a rising labor drive, and excessive rental demand. Beneath are some fast information concerning the Nashville rental market that may make it easier to together with your funding evaluation and general determination.
- Value-to-Hire Ratio
- Avg 2BR Home Value: $809,619 (In line with Redfin)
- Avg Annual 2BR Hire: $37,980 ($3,165 x 12 months)
- Inhabitants Progress:
- Nashville’s inhabitants grew by 14% over the previous decade from 2010-2020 (In line with US Census)
- Main Corporations & Establishments: Vanderbilt College Medical Heart, Nissan North America, HCA Healthcare, Saint Thomas Well being, Asurion, Bridgestone Americas, Transcore, HealthStream, Vanderbilt College, Greenback Normal Company
- Employment Progress: 2% (In line with US Bureau of Labor Statistics)
Rentometer is the #1 software for evaluating residential lease charges anyplace within the U.S. To succeed as an actual property investor, you want strong, present market intelligence that can assist you set the suitable lease charges in Nashville. Understanding native rents (and the elements that drive them) will help scale back funding danger, enhance occupancy and enhance your money circulation – and revenue. With Rentometer, you might have native, present rents accessible proper at your fingertips.
This text was written by the Rentometer Content material Group. The Rentometer Weblog options contemporary takes and insights on rental housing matters, providers, and expertise.