houses for rent near Nashville, TN - craigslist (2024)

FAQs

How much does it cost to live comfortably in Nashville? ›

For example, the monthly estimated expenditure for a family of four living in Nashville requires a monthly income of $6,602, which translates to an average annual income of $79,228. However, the cost of living for one person in Nashville is drastically lower than that of a family.

The median salary in Nashville, TN is $56,550, with 80% of salaries falling between $30,763 and $130,500. Salaries in Nashville, TN are generally below the national average.

The cost of living in Nashville, TN is higher than the national average. However, the city's low taxes and below-average housing costs help to balance out this difference.

According to the rental report by Realtor.com Nashville ranks as the second city in the nation with the biggest year-over-year declines in median rent. It shows prices are down 8.3% and that number includes a lot of middle Tennessee, not just Nashville.

What is the living wage in Nashville? A livable wage in Nashville is estimated to be $15.50 per hour for a single adult with no children. This means that a worker earning $15.50 per hour would be able to afford a modest apartment, food, transportation, and other basic necessities.

A full-time employee, for example, earning the minimum wage of $7.25/hour in Tennessee (last increase was in 2008) earns $15,080/year - considered very low income if they are a single person household.

Instead, Vanderbilt University and Medical center is the largest employer with nearly 25,000 people employed. Vanderbilt was founded in 1873 and is one of the largest private educational institutions in the world. It has ten schools, all located on a beautiful campus in Nashville.

While ZipRecruiter is seeing salaries as high as $25.31 and as low as $10.69, the majority of salaries within the Comfortable jobs category currently range between $13.08 (25th percentile) to $17.88 (75th percentile) in Tennessee.

How expensive is it to live in Nashville? In Nashville, rent averages $1,283 for a one-bedroom apartment. Transportation costs in Nashville amount to $5,509 a year. Food costs $3,351 a year on average for a single resident of Nashville.

What is the nicest part of Nashville to live? ›

Its popularity can be attributed to a great job market, a high quality of life and a low cost of living. In fact, the cost of living in Nashville is 2% lower than the national average.

Nashville ranks in the top ten metro areas where you can save the most money by renting. That new report says the combination of high mortgage rates, interest rates, home prices, and rent prices dropping are contributing to this trend. The biggest rental price cuts in the market were to smaller units.

Nashville's homeless population has drastically risen as the city continues to grow along with the cost of living and housing prices. The number of people experiencing chronic homelessness in Nashville has increased nearly 77% over the past year, according to Nashville's Homeless Management Information System.

The problem, experts agree, is the extreme shortage of housing in Nashville, especially in comparison to the rise in population of the Middle Tennessee region. According to the Metro Planning Department, Nashville needs to gain 5,000 units of housing per year until 2030 to keep pace with the growth of the region.

$27,200 is the 25th percentile. Salaries below this are outliers. $37,200 is the 75th percentile.

According to data from the U.S. Census Bureau, the average median household income in the U.S. was $73,914 in 2022. In Tennessee, earning anywhere between $43,498 and $130,508 would classify you as middle class.

Nashville, TN housing market

In May 2024, the median listing home price in Nashville, TN was $589K, flat year-over-year. The median listing home price per square foot was $325. The median home sold price was $458K.

For most people, the cost of housing is their primary expense. Experts suggest following the 30% rule, which notes spending 30% of your gross income on rent. With an average rent expense in Nashville at $1,400, you'd want to aim for making around $4,670 each month or $56,040 annually, before taxes.