Posted 1/9/2024, 10:20:15 AM
Nashville Rental Market Cools in 2023, Bringing Lower Prices and More Availability for Renters
- Nashville's rental market has cooled in 2023, leading to more availability and better deals for renters
- Thousands of new apartment units were completed in 2023, causing prices to dip as landlords work to fill them
- Average rent prices decreased to $1,549 at the end of 2023, with concessions up to 8% off rent
- Urban core rents remain high, with downtown averages at $2,382 and 90% occupancy
- Oversupply of new units is expected to keep rental prices down across Nashville's metro region in 2024