2 Apartments under 700 for rent in Nashville, TN

Last updated August 18 at 12:26pm UTC
1205C Howard Avenue
Inglewood
Nashville, TN
Updated August 17 at 10:00am UTC
1 Bedroom
$600
Results within 5 miles of Nashville, TN
The Retreat at Indian Lake
908 Cardinal Lane
Hendersonville, TN
Updated August 18 at 12:26pm UTC
Studio
$633
1 Bedroom
$902
2 Bedrooms
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August 2018 Nashville Rent Report

Welcome to the August 2018 Nashville Rent Report. Nashville rents remained steady over the past month. In this report, we'll evaluate trends in the Nashville rental market, including comparisons to cities throughout the state and nation.

View full Nashville Rent Report
Rent Report
Nashville

August 2018 Nashville Rent Report

Welcome to the August 2018 Nashville Rent Report. Nashville rents remained steady over the past month. In this report, we'll evaluate trends in the Nashville rental market, including comparisons to cities throughout the state and nation.

Nashville rents held steady over the past month

Nashville rents have remained steady over the past month, but are down slightly by 0.1% year-over-year. Currently, median rents in Nashville stand at $920 for a one-bedroom apartment and $1,130 for a two-bedroom. Nashville's year-over-year rent growth lags the state average of 1.1%, as well as the national average of 1.2%.

Rents rising across cities in Tennessee

While rent decreases have been occurring in the city of Nashville over the past year, cities in the rest of the state are seeing the opposite trend. Rents have risen in 9 of the largest 10 cities in Tennessee for which we have data. The state as a whole logged rent growth of 1.1% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Franklin is the most expensive of all Tennessee's major cities, with a median two-bedroom rent of $1,300; of the 10 largest Tennessee cities that we have data for, 9 have seen rents rise year-over-year, with Smyrna experiencing the fastest growth (+4.3%).
  • Knoxville, Hendersonville, and Murfreesboro have all experienced year-over-year growth above the state average (3.5%, 3.2%, and 3.2%, respectively).

Nashville rents more affordable than many other large cities nationwide

As rents have fallen slightly in Nashville, many comparable cities nationwide have seen prices increase, in some cases substantially. Nashville is also more affordable than most similar cities across the country.

  • Nashville's median two-bedroom rent of $1,130 is slightly below the national average of $1,180. Nationwide, rents have grown by 1.2% over the past year compared to the 0.1% decline in Nashville.
  • While rents in Nashville fell slightly over the past year, many cities nationwide saw increases, including Phoenix (+2.4%), Atlanta (+1.8%), and San Francisco (+1.1%).
  • Renters will find more reasonable prices in Nashville than most other large cities. For example, San Francisco has a median 2BR rent of $3,090, which is more than two-and-a-half times the price in Nashville.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Nashville $920 $1,130 -0.1% -0.1%
Murfreesboro $900 $1,100 1.8% 3.2%
Franklin $1,060 $1,300 -0.1% 3.2%
Hendersonville $980 $1,210 -0.9% 3.2%
Smyrna $920 $1,130 -0.7% 4.3%
Gallatin $880 $1,080 0.1% 2.7%
Goodlettsville $950 $1,170 0.7% 2.5%

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.