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:$390,843
Avg Rent:$1,572/mo
Avg Price/Rent:19.9
Tennessee Housing Market Summary
16
Cities Analyzed
0
Favor Buying
16
Favor Renting
0
Toss-Up
Across Tennessee's 16 analyzed cities, the majority (16 cities) favor renting over buying. High home prices relative to rents make renting more financially attractive in much of Tennessee.
The average home price in Tennessee is $390,843, with average rents at $1,572/month. This gives an average price-to-rent ratio of 19.9.
$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 | $429,291.95 | $1,779.5 | 20.1 | N/A | Rent |
| Memphis | $215,746.14 | $1,363.63 | 13.2 | N/A | Rent |
| Knoxville | $369,941.76 | $1,787.88 | 17.2 | N/A | Rent |
| Chattanooga | $347,462.88 | $1,500.05 | 19.3 | N/A | Rent |
| Clarksville | $318,518.17 | $1,385.59 | 19.2 | N/A | Rent |
| Murfreesboro | $412,431.8 | $1,703.59 | 20.2 | N/A | Rent |
| Franklin | $898,190.5 | $2,021.66 | 37.0 | N/A | Rent |
| Jackson | $222,285.58 | $1,386.34 | 13.4 | N/A | Rent |
| Johnson City | $296,676.92 | $1,566.82 | 15.8 | N/A | Rent |
| Bartlett | $215,746.14 | $1,363.63 | 13.2 | N/A | Rent |
| Hendersonville | $436,405.29 | $1,675.25 | 21.7 | N/A | Rent |
| Kingsport | $254,306.08 | $1,203.44 | 17.6 | N/A | Rent |
| Collierville | $215,746.14 | $1,363.63 | 13.2 | N/A | Rent |
| Smyrna | $412,431.8 | $1,703.59 | 20.2 | N/A | Rent |
| Cleveland | $310,113.01 | $1,331.67 | 19.4 | N/A | Rent |
| Brentwood | $898,190.5 | $2,021.66 | 37.0 | N/A | Rent |
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