NASHVILLE, Tenn. (WKRN) — A new report from Zumper says renters in the Nashville metropolitan area have sky-high rates for one- and two-bedroom homes.
Over the last month, Zumper analyzed rent prices for active listings across metro cities and found the cities with the fastest-growing rents, as well as the most and least expensive cities.
According to the Zumper Nashville Metro Report, Franklin renters pay a median $1,760 per month for a one-bedroom home. The state median price for a one-bedroom was $1,177 last month, according to Zumper.
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Renters in Nashville came in second, with a median price of $1,680 for a one-bedroom, followed by Spring Hill at $1,430, and Columbia, Lebanon, and Murfreesboro all with $1,330 per month. Gallatin was slightly cheaper for a one-bedroom at $1,320, followed by Clarksville with a median price of $950 per month.
According to the latest report, Columbia had the fastest-growing rent price year-over-year, with rental prices up 8.1% from this time last year. Clarksville was the second-fastest with 8%, followed by Spring Hill with a growth rate of 1.4%.
The same period also saw decreases in the median price for some cities. Franklin saw a 2.8% decrease from last year, but Nashville and Lebanon saw double that decrease. Nashville's median rent prices decreased 5.6%, and Lebanon 5.7%. Murfreesboro rates remained the same from last year, the Zumper report found.
The same report said the median price for two-bedroom homes exceeded $2,000 in Franklin, at $2,160 per month. This was a 1.8% decrease month-over-month and a 6.9% decrease year-over-year.
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