Tuesday, January 5, 2021

Rents in Nashville are down by 4.8% since the start of the pandemic in March.

From Apartment List - As we enter the new year, our national rent index has begun to stabilize after a wild 2020. Rents are down 0.4% month-over-month nationally, a seasonal dip consistent with what we’ve seen in prior years. That said, there has been significant regional variation in the impact of the COVID-19 pandemic; while our national rent index is down by a fairly modest 1.5% year-over-year, many markets are experiencing greater volatility. 

The urban cores of San Francisco, Seattle, Boston, and New York City continue to see rent prices fall rapidly, while many smaller markets and suburbs are actually getting more expensive. For more analysis of the newest monthly data, check out the full January Apartment List Rent Report

Here are some of this month's highlights: 
  • Rents in Nashville decreased 0.8% month-over-month, and are down by 4.8% since the start of the pandemic in March. 
  • Year-over-year rent growth in Nashville currently stands at -3.9%, compared to 4% at this time last year. 
  • Median rents in Nashville currently stand at $1034 for a 1-bedroom apartment and $1192 for a two-bedroom.

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