Nashville Apartment Rent Expected to INCREASE

Nashville Apartment Rent Expected to INCREASE

Get ready to pay more to the landlord, Nashville renters. The region’s apartment rents will continue escalating even as supply soon outstrips demand because of a construction boom, says Real Data, a Charlotte, N.C.-based real-estate research firm. Its latest biannual market snapshot forecasts that the region’s average monthly rent, which stood at $833 in January, will top $850 by July and $900 by 2015. Much of the increase will come from new units coming online, particularly in the higher-rent West End and Franklin sub-markets. More than 1,600 units in West End and another 800 in Franklin are under construction, more than half of the 4,475 units now being built throughout the four-county region, Real Data said. At that pace, supply will exceed demand beginning next year, the firm said. Reduced supplies and high demand, especially from those unable to buy a home because of tightened credit or who lost their homes to foreclosure, has been fueling the construction boom.

Builders started more than 2,500 units since last summer alone. The arrival of those units, coupled with improvement in home sales, likely will increase the apartment vacancy rate from its current 5 percent, the firm said. With all that said, you might as well call me to help you find a house.  Your house payment will probably be much less that what you throw away on RENT.

I'm Kel Williams.....but you can call me "Realtor of the Stars." KEL WILLIAMS EXIT REALTY EXTREME 615-957-5626  

Dorothy Lee Headshot
Phone: 615-973-6363
Dated: April 3rd 2013
Views: 1,042
About Dorothy: Dorothy Lee’s 22+ years extensive knowledge and experience in Real Estate provides her a unique v...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Pending Home Sales Strained - Will They Break Through?March’s
Managing Clutter - When was the last time you thought
Market Watch What To Expect From The Real Estate Market In 2018 - What to expect from the real
50 Best Thanksgiving Recipes - With Thanksgiving just around the

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

EXIT Realty of the South
545 N. Mount Juliet Road Ste. 1201
Mount Juliet, TN

Other Locations