Rent in Tennessee
The median 2-bedroom Fair Market Rent in Tennessee is $1,092/mo, ranking #40 out of 51 states for highest rent. This is $158 below the national median of $1,250/mo. Tennessee has a population of 7.0M. About 33% of households rent their homes. Fair Market Rent data covers 21 areas across the state.
Highlights
All 21 Areas in Tennessee
| Area | Studio | 1BR | 2BR | 3BR | Burden | YoY |
|---|---|---|---|---|---|---|
| Nashville-Davidson--Murfreesboro--Franklin Pop. 2.0M | $1,507 | $1,578 | $1,730 | $2,211 | 25.2% | +6.9% |
| Knoxville Pop. 920K | $1,177 | $1,184 | $1,471 | $1,864 | 25.3% | +20.5% |
| Chattanooga Pop. 569K | $1,211 | $1,263 | $1,390 | $1,734 | 24.3% | +12.8% |
| Maury County Pop. 105K | $1,131 | $1,138 | $1,349 | $1,701 | 21.8% | +0.9% |
| Clarksville Pop. 329K | $1,090 | $1,094 | $1,346 | $1,871 | 24.4% | +8% |
| Memphis Pop. 1.3M | $1,060 | $1,154 | $1,274 | $1,683 | 23.6% | -1.8% |
| Jackson Pop. 181K | $869 | $960 | $1,260 | $1,677 | 25.7% | +10.7% |
| Cleveland Pop. 127K | $850 | $940 | $1,233 | $1,584 | 23.3% | +10.7% |
| Morristown Pop. 121K | $881 | $887 | $1,135 | $1,444 | 23.4% | +10.9% |
| Johnson City Pop. 209K | $887 | $893 | $1,132 | $1,398 | 24.2% | +5.8% |
| Roane County Pop. 54K | $912 | $918 | $1,092 | $1,432 | 19.8% | +11.4% |
| Crockett County Pop. 14K | $753 | $842 | $1,083 | $1,389 | 22% | +9.1% |
| Smith County Pop. 20K | $796 | $801 | $1,051 | $1,368 | 20.1% | +15.7% |
| Kingsport-Bristol Pop. 310K | $720 | $818 | $1,044 | $1,338 | 22.4% | - |
| Stewart County Pop. 14K | $692 | $815 | $1,004 | $1,396 | 19.4% | +4.6% |
| Hickman County Pop. 25K | $827 | $832 | $992 | $1,277 | 20.8% | - |
| Morgan County Pop. 21K | $748 | $753 | $988 | $1,303 | 20.7% | +14.8% |
| Macon County Pop. 26K | $847 | $887 | $972 | $1,290 | 20.7% | +4.9% |
| Campbell County Pop. 40K | $717 | $722 | $947 | $1,249 | 22.6% | +3.8% |
| Grainger County Pop. 24K | $712 | $717 | $941 | $1,241 | 22% | +4.2% |
| Gibson County Pop. 51K | $645 | $706 | $927 | $1,289 | 18.9% | +7.7% |
Frequently Asked Questions
The median 2-bedroom Fair Market Rent across Tennessee is $1,092 per month. Rents range from $927/mo in Gibson County to $1,730/mo in Nashville-Davidson--Murfreesboro--Franklin. The actual median gross rent statewide is $1,122/mo according to Census data.
Tennessee ranks #40 out of 51 states for highest median Fair Market Rent. The state median 2BR FMR of $1,092/mo is $158 below the national median of $1,250/mo.
The average rent burden across Tennessee is 22.4%, meaning a typical household would spend 22.4% of income on a 2-bedroom at Fair Market Rent. No areas exceed HUD's 30% cost-burden threshold. The statewide median household income is $67,097.
The most affordable area in Tennessee is Gibson County with a 2-bedroom Fair Market Rent of $927/mo. The median household income there is $59,009.
The most expensive area in Tennessee is Nashville-Davidson--Murfreesboro--Franklin with a 2-bedroom Fair Market Rent of $1,730/mo. The median household income there is $82,499.
Fair Market Rents represent the 40th percentile of gross rents for standard-quality rental units. State-level income and demographic data comes from the Census Bureau ACS 5-Year estimates. Rent burden is calculated as annual 2BR FMR divided by area median household income.