Nashville-Davidson metropolitan government (balance), Tennessee Housing Market Prices
Nashville-Davidson metropolitan government (balance) Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 87% above the Tennessee median$477,915
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Median rent 34% above the Tennessee median$1,588
Housing Market Overview
| Metric | Nashville-Davidson metropolitan government (balance) | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $477,915 | $255,786 | $248,835 |
| Price Trend (Annual %) | 14.1% | 9.9% | 7.5% |
| Median Gross Rent | $1,588 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 7.3% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Nashville-Davidson metropolitan government (balance) is about 87% higher than in Tennessee. Rent is about 34% higher than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Nashville-Davidson metropolitan government (balance), up about 14.1% and 7.3% a year respectively. Home prices are changing faster.
Median rent in Nashville-Davidson metropolitan government (balance) rose about 82.2% between 2015 and 2024, from $871 to $1,588. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 6.2 yearly household incomes in Nashville-Davidson metropolitan government (balance).
Buying the median-priced home in Nashville-Davidson metropolitan government (balance) costs roughly 25.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Nashville-Davidson metropolitan government (balance). The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Nashville-Davidson metropolitan government (balance) | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $477,915 | $255,786 | $248,835 |
| Median Household Income | $77,425 | $69,901 | $80,455 |
| Price-to-Income Ratio | 6.2 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Nashville-Davidson metropolitan government (balance) rose about 226.5%, while median household income rose about 62.2% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Nashville-Davidson metropolitan government (balance) | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.5% | 60.1% | 58.5% |
| Rental Rate | 43.4% | 29.7% | 31.2% |
| Vacancy Rate | 9.1% | 10.2% | 10.2% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Nashville-Davidson metropolitan government (balance) has a homeownership rate of 47.5%, lower than the Tennessee average of 60.1%. Its housing vacancy rate is 9.1%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Nashville-Davidson metropolitan government (balance) | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.13 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1986 | 1986 | 1978 |
| Median Number of Rooms | 5.0 | 5.7 | 5.5 |
The typical housing unit in Nashville-Davidson metropolitan government (balance) was built around 1986. On average, 2.1 people live in a home with about 5.0 rooms, staying for about 11.0 years on average.
Nashville-Davidson metropolitan government (balance), TN Housing Compared With Nearby Cities
How Nashville-Davidson metropolitan government (balance), TN compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Nashville-Davidson metropolitan government (balance), TN | 685,455 | $477,915 #2/2 | $1,588 #2/2 | 52.3% #2/2 |
| Brentwood, TN | 44,549 | $1,394,672 | $2,192 | 84.3% |
Frequently Asked Questions
Common questions about the housing market in Nashville-Davidson metropolitan government (balance), Tennessee.
What is the median home price in Nashville-Davidson metropolitan government (balance), Tennessee?
The median home price in Nashville-Davidson metropolitan government (balance), Tennessee is $477,915, higher than the Tennessee average of $255,786.
What is the average home price in Nashville-Davidson metropolitan government (balance), Tennessee?
The typical home price in Nashville-Davidson metropolitan government (balance), Tennessee, reported as the median sale price, is $477,915. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Nashville-Davidson metropolitan government (balance), Tennessee?
The median gross rent in Nashville-Davidson metropolitan government (balance), Tennessee is $1,588 per month, higher than the Tennessee average of $1,188.
What was the median gross rent in Nashville-Davidson metropolitan government (balance) in 2020?
In 2020, the median gross rent in Nashville-Davidson metropolitan government (balance), Tennessee was $1,171 per month.
What is the price-to-rent ratio in Nashville-Davidson metropolitan government (balance), Tennessee?
The price-to-rent ratio in Nashville-Davidson metropolitan government (balance), Tennessee is about 25.1, meaning it would take roughly 25.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Nashville-Davidson metropolitan government (balance).
Are home prices or rent rising faster in Nashville-Davidson metropolitan government (balance), Tennessee?
Both home prices and rent are rising in Nashville-Davidson metropolitan government (balance), up about 14.1% and 7.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Nashville-Davidson metropolitan government (balance), Tennessee?
47.5% of households in Nashville-Davidson metropolitan government (balance), Tennessee own their home, lower than the Tennessee average of 60.1%.
What is the vacancy rate in Nashville-Davidson metropolitan government (balance), Tennessee?
The housing vacancy rate in Nashville-Davidson metropolitan government (balance), Tennessee is 9.1%, lower than the Tennessee average of 10.2%.
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