Average Rent in Tennessee

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Current Versus Historical Tennessee Rents

Tennessee rentals average $1,098 for a studio rental to $2,513 for a 4-bedroom rental. The median price of all currently available listings is $1,474, or roughly $1 per square feet.
For the apartment units and housing in April 2024, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $7 (-0.55%) year-over-year from $1,307 to $1,300. 1-bedroom rentals prices have decreased by $195 (-13.96%) year-over-year from $1,394 to $1,199. 2-bedroom rentals prices have decreased by $298 (-16.92%) year-over-year from $1,763 to $1,465. 3-bedroom rentals prices have increased by $12 (0.66%) year-over-year from $1,824 to $1,836. 4-bedroom rentals prices have increased by $307 (12.88%) year-over-year from $2,383 to $2,690. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 8.15% this month. 1-bedroom rents have gone down by 6.64% this month. 2-bedroom rents have gone down by 10.14% this month. 3-bedroom rents have gone up by 0.66% this month. 4-bedroom rents have gone up by 7.74% this month.
Beds
Price / Sqft
Apr 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $1.98 $1,300 $1,307 (-0.55%) $1,723 (-24.55%)
1 BR $1.69 $1,199 $1,394 (-13.96%) $1,536 (-21.94%)
2 BR $1.39 $1,465 $1,763 (-16.92%) $1,542 (-5.03%)
3 BR $1.27 $1,836 $1,824 (0.66%) $1,666 (10.20%)
4+ BR $1.13 $2,690 $2,383 (12.88%) $2,115 (27.19%)

Historical Rents in Tennessee

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Tennessee

There are a total of 42 cities nearby Tennessee. The average rent in Tennessee is currently $1,516 per month. A total of 19 cities nearby have an average rent lower than that. Our records show that Lawton, OK, with an average rent of $895, is the most affordable city nearby. In contrast, the most expensive city near Tennessee is Sandy Springs, GA. Monthly rents here are on average $3,050 per month.

Let's compare Tennessee's rent against other top cities nearby by bedroom size. Typically, rent for studios in Tennessee is 29.77% more expensive than other cities nearby. One bedrooms are about 16.29% more expensive. Two bedrooms in Tennessee are about 7.91% more expensive. Finally, rent for three bedrooms are about 4.72% more expensive. Want more information? Check out the top 10 cities out of 42 total cities near Tennessee in the following chart.
City Studio 1 Bed 2 Bed All
Evansville, IN $625 $715 $973 $925
Bowling Green, KY $1,500 $845 $1,100 $1,018
Birmingham, AL $767 $984 $1,073 $1,050
Louisville, KY $2,125 $913 $1,237 $1,300
Chattanooga, TN $1,037 $1,024 $1,350 $1,490
Nashville, TN $1,096 $1,313 $1,613 $1,519
Huntsville, AL $823 $850 $1,097 $1,650
Knoxville, TN $933 $1,256 $1,598 $1,675
Smyrna, GA N/A N/A $1,900 $2,270
Sandy Springs, GA N/A $1,950 $1,970 $3,050

Top Neighborhoods Near Tennessee

There are a total of 2 neighborhoods in or near Tennessee. We've included all of these top 2 neighborhoods in or near Tennessee in the following chart.

The average rent for these 2 neighborhoods in or near Tennessee is currently around $2,300 per month. Meaning, only two neighborhoods have a higher average rent than $2,300. Interestingly, the neighborhoods' average rent is higher than Tennessee's average rent, which is only $1,474. Out of all the neighborhoods in or near Tennessee, Northwest Virginia Beach has the most affordable average rent at $2,100 per month. Whereas, at $2,500 average rent per month, Midtown is the most expensive neighborhood in or near Tennessee. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
Northwest Virginia Beach, Virginia Beach, VA N/A N/A $1,750 $2,100
Midtown, Atlanta, GA $1,485 $2,000 $2,750 $2,500

Top Counties Near Tennessee

There are a total of 2 counties located by Tennessee. Some of these counties include Warren, KY, Jefferson, AL, and Jefferson, KY. The average rent for rentals in these counties is $1,700. That's roughly around $1 per sqft. A total of 16 counties have a lower average rent. The county that is the most affordable is Pulaski, MO. It's average rent per month is $895. Vice versa, with an average rent of $350,000, Carteret, NC is the most expensive county by Tennessee.

Typically, rent for studios in Tennessee is 31.71% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Tennessee is 11.39% more expensive than other counties nearby. Finally, rent for two bedrooms in Tennessee is 3.70% more expensive than other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Warren, KY $1,800 $845 $1,100 $1,050
Jefferson, AL $767 $970 $1,095 $1,183
Jefferson, KY $2,125 $925 $1,237 $1,300
Hamilton, TN $1,049 $1,015 $1,300 $1,500
Davidson, TN $1,096 $1,313 $1,607 $1,519
Madison, AL $823 $814 $1,100 $1,750
Knox, TN $940 $1,262 $1,600 $1,800
Paulding, GA N/A N/A $1,450 $2,000
Cobb, GA N/A $1,700 $1,750 $2,300
Cherokee, GA N/A N/A $1,800 $2,499

Top Zipcodes Near Tennessee

There are a total of 26 zipcodes in or near Tennessee. The average rent for all of these zipcodes is $1,600. A total of 11 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 65584, Pulaski County, MO at $895 per month. In comparison, the zipcode with the most expensive average rent of $2,800 per month is 75009, Celina, TX.

Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Tennessee is $889 per month. Or in other words, $1 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,258 per month. Which comes out to $1 per sqft. The following chart includes the top 10 zipcodes in Tennessee. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
35205, Birmingham, AL $755 $938 $1,265 $1,005
72712, Bentonville, AR N/A $1,200 $1,450 $1,875
28546, Onslow County, NC $495,000 $1,000 $1,155 $1,300
75409, Anna, TX N/A N/A N/A $2,250
73099, Yukon, OK N/A $783 $1,244 $1,550
73071, Norman, OK N/A $759 $875 $1,076
30318, Atlanta, GA $1,552 $1,655 $2,473 $2,600
23451, Virginia Beach, VA N/A $1,600 $1,795 $2,000
38104, Memphis, TN $1,099 $925 $1,238 $1,200
28540, Onslow County, NC $475,000 $725 $1,025 $1,700

Frequently Asked Questions - Tennessee Average Rents

What is the average rent price in Tennessee?
The average monthly rental price for Tennessee apartments for rent is approximately $1,474. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Tennessee rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Tennessee.
How much is a studio apartment in Tennessee?
The average monthly rental price for studio apartments is $1,098 and an average price per square feet of $1.98. There are a total of 66 studio apartment listings currently available for rent in Tennessee.
How much is a one bedroom apartment in Tennessee?
The average monthly rental price for one bedroom apartments is $1,098 and an average price per square feet of $1.69. There are a total of 346 one bedroom apartment listings currently available for rent in Tennessee.
How much is a two bedroom apartment in Tennessee?
The average monthly rental price for two bedroom apartments is $1,350 and an average price per square feet of $1.39. There are a total of 677 two bedroom apartment listings currently available for rent in Tennessee.
How have rent prices in Tennessee changed this year?
Rent prices for rentals in Tennessee can fluctuate yearly. Specifically, studio rental prices have changed by -0.01%, one bedroom rental prices have changed by -0.14%, two bedroom rental prices have changed by -0.17%, and three bedroom rental prices have changed by 0.01% year-over-year.
What is a reasonable rent price in Tennessee?
A reasonable rent price in Tennessee is around $1,179/month. You can search for these reasonably priced rental listings on RentHop.
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