Average Rent Prices in Tennessee (TN)
$6931
Studio
$7341
1BR
$9201
2BR
$1,2121
3BR
$1,3961
4BR
As of 2023, the overall average fair market rent for a residential rental property in Tennessee is $991. Average rent prices in Tennessee sit below the national average rent of $1,274, in which Tennessee ranks as the 11th lowest rent among all 50 states and the 40th highest rent among all 50 states within the United States. In Tennessee’s large metropolitan areas such as Nashville, TN, the average rent prices tend to be higher, while alternative areas such as Murfreesboro, TN, can provide more affordable options.
1Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout the United States, excluding Puerto Rico.
Rent Rankings
40th
Highest Rent Among 50 States
11th
Lowest Rent Among 50 States
Below
The National Rent Average
Definitions
Studio – A one-room unit with a private bathroom.
1BR – A unit that has a separate bathroom and a separate bedroom.
2BR – A unit that has two separate and distinct bedrooms.
3BR – A unit that has 3 separate and distinct bedrooms.
4BR – A unit that has 4 separate and distinct bedrooms.
Fair Market Rent – Gross rent estimate for a standard rental unit in a given market.
Average Rent Prices in Tennessee (TN) Visual Chart
Average Rent Prices in Tennessee (TN) by Metro Area
| wdt_ID | Metro | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|---|
| 1 | Campbell County, TN HUD Metro FMR Area | 566 | 643 | 847 | 1.138 | 1.160 |
| 2 | Chattanooga, TN-GA MSA | 910 | 919 | 1.067 | 1.372 | 1.619 |
| 3 | Clarksville, TN-KY HUD Metro FMR Area | 699 | 758 | 985 | 1.389 | 1.678 |
| 4 | Cleveland, TN MSA | 661 | 707 | 931 | 1.221 | 1.319 |
| 5 | Crockett County, TN HUD Metro FMR Area | 592 | 605 | 796 | 999 | 1.347 |
| 6 | Gibson County, TN HUD Metro FMR Area | 556 | 605 | 747 | 1.041 | 1.272 |
| 7 | Grainger County, TN HUD Metro FMR Area | 568 | 572 | 753 | 1.008 | 1.012 |
| 8 | Jackson, TN HUD Metro FMR Area | 627 | 712 | 937 | 1.269 | 1.274 |
| 9 | Johnson City, TN MSA | 700 | 724 | 875 | 1.107 | 1.299 |
| 10 | Kingsport-Bristol-Bristol, TN-VA MSA | 583 | 627 | 793 | 1.041 | 1.170 |
| 11 | Knoxville, TN HUD Metro FMR Area | 887 | 952 | 1.156 | 1.507 | 1.773 |
| 12 | Macon County, TN HUD Metro FMR Area | 623 | 628 | 826 | 1.036 | 1.260 |
| 13 | Maury County, TN HUD Metro FMR Area | 832 | 837 | 1.102 | 1.469 | 1.555 |
| 14 | Memphis, TN-MS-AR HUD Metro FMR Area | 800 | 902 | 1.032 | 1.365 | 1.584 |
| 15 | Morgan County, TN HUD Metro FMR Area | 605 | 609 | 801 | 1.112 | 1.116 |
| 16 | Morristown, TN HUD Metro FMR Area | 632 | 636 | 828 | 1.132 | 1.298 |
| 17 | Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area | 1.218 | 1.245 | 1.406 | 1.758 | 2.173 |
| 18 | Roane County, TN HUD Metro FMR Area | 714 | 771 | 933 | 1.212 | 1.589 |
| 19 | Smith County, TN HUD Metro FMR Area | 546 | 614 | 808 | 1.051 | 1.121 |
| 20 | Stewart County, TN HUD Metro FMR Area | 542 | 604 | 768 | 1.007 | 1.308 |
| Metro | Studio | 1BR | 2BR | 3BR | 4BR |
Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout United States excluding Puerto Rico for calendar year 2023.
Methodology
Areas with insufficient inventory or populations less than 25,000 were excluded from this analysis. Averages are based on the combined average of 0-4 bedroom residential rental properties throughout the United States excluding Puerto Rico.
Data
Rent prices are based on aggregated data from one and/or several sources noted below:
Disclaimer
The information included is used for illustrative purposes only. The data contained herein does not constitute financial, legal, or any material advice. Data is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals before making any material decisions.
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