Rent vs Buy in Tennessee
Compare 16 cities across Tennessee. Find out whether renting or buying makes more financial sense in your area.
16cities analyzed
Avg Home:$386,875
Avg Rent:$1,663/mo
Avg Price/Rent:19.5
Tennessee Housing Market Summary
16
Cities Analyzed
1
Favor Buying
2
Favor Renting
13
Toss-Up
Across Tennessee's 16 analyzed cities, the results are mixed with no clear winner statewide. Your decision depends heavily on which city you're considering.
The average home price in Tennessee is $386,875, with average rents at $1,663/month. This gives an average price-to-rent ratio of 19.5.
$Most Affordable Cities
$$Most Expensive Cities
All Tennessee Cities
Sorted by population. Click any city for detailed analysis.
| City | Median Price | Median Rent | Price/Rent | Break-even | Verdict |
|---|---|---|---|---|---|
| Nashville | $380,000 | $1,750 | 18.1 | 8 yrs | Toss-up |
| Memphis | $475,000 | $1,750 | 22.6 | 11 yrs | Rent |
| Knoxville | $390,000 | $1,600 | 20.3 | 6 yrs | Toss-up |
| Chattanooga | $390,000 | $1,700 | 19.1 | 7 yrs | Toss-up |
| Clarksville | $380,000 | $1,850 | 17.1 | 8 yrs | Toss-up |
| Murfreesboro | $410,000 | $1,950 | 17.5 | 8 yrs | Toss-up |
| Franklin | $410,000 | $1,450 | 23.6 | 15 yrs | Rent |
| Johnson City | $325,000 | $1,800 | 15.0 | 4 yrs | Buy |
| Jackson | $370,000 | $1,500 | 20.6 | 7 yrs | Toss-up |
| Hendersonville | $390,000 | $1,650 | 19.7 | 7 yrs | Toss-up |
| Bartlett | $410,000 | $1,700 | 20.1 | 6 yrs | Toss-up |
| Smyrna | $380,000 | $1,600 | 19.8 | 8 yrs | Toss-up |
| Kingsport | $400,000 | $1,550 | 21.5 | 7 yrs | Toss-up |
| Collierville | $395,000 | $1,850 | 17.8 | 7 yrs | Toss-up |
| Cleveland | $330,000 | $1,450 | 19.0 | 8 yrs | Toss-up |
| Brentwood | $355,000 | $1,450 | 20.4 | 6 yrs | Toss-up |
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These are general analyses based on median values. Use our comprehensive Buy vs Rent calculator to input your specific income, savings, and financial goals.
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