Tennessee Rent Prices 2026: Average $1,481/mo
Find fair market rent prices for 3 major metro areas in Tennessee. The average 2-bedroom rent across the state is $1,481/mo.
Major Cities in Tennessee
Sorted by 2-bedroom rent price (highest to lowest)
Cheapest Cities in Tennessee
Find the most affordable cities to rent in Tennessee. Starting from $1,274/mo.
Most Expensive Tennessee Cities
See the priciest rental markets in Tennessee. Up to $1,730/mo.
Tennessee Rent Trends
Analyze rent trends and market outlook for Tennessee.
Explore Tennessee Rent Data
Browse detailed rent prices for cities across Tennessee. Each city page includes neighborhood breakdowns, rent trends, and local market insights.
Can You Afford to Rent in Tennessee?
See the income needed to comfortably afford rent in Tennessee cities based on the 30% rule.
View All Affordability Guides →Rent vs. Buy in Tennessee Cities
Compare the cost of renting vs. buying a home in major Tennessee metro areas.
View All Rent vs. Buy Guides →Tennessee City Rent Comparison
Average 2-bedroom rent by city
Market Conditions Gauge
Tennessee rental market analysis
Supply matches demand, stable conditions for renters
What This Means for Renters
- *Take time to compare options without rushing
- *Negotiate move-in specials or minor rent reductions
- *Stable market conditions favor fair dealings
Market conditions are calculated from supply/demand balance, price trends, and affordability metrics. Conditions can vary by neighborhood.
Top Cities in Tennessee
Rent prices by metropolitan area
Click on a state to see details. Color indicates rent level relative to national range.
Tennessee Rental Market Overview
The fair market rent (FMR) data for Tennessee is published annually by the U.S. Department of Housing and Urban Development (HUD). These figures represent the 40th percentile of gross rents for standard quality rental housing in each metro area.
Tennessee has 3 major metropolitan areas tracked in our database. The most expensive city for renters is Nashville, TN with an average 2-bedroom rent of $1,730/mo, while the most affordable is Memphis, TN at $1,274/mo.
What Affects Rent Prices in Tennessee?
- Location: Proximity to employment centers and urban amenities significantly impacts rent prices across Tennessee metros.
- Local Economy: Job growth and industry presence drive rental demand. Strong employment markets typically have higher rents.
- Housing Supply: Areas with new construction tend to have more rental options and potentially competitive pricing.
- Schools: Quality school districts command premium rents, especially for family-sized apartments.
- Transportation: Access to highways and public transit affects neighborhood desirability and pricing.
Frequently Asked Questions About Tennessee Rent
What is the average rent in Tennessee?
The average rent in Tennessee is $1,481 per month for a 2-bedroom apartment based on 2026 HUD Fair Market Rent data. Prices range from $1,274 in Memphis to $1,730 in Nashville.
What is the cheapest city to rent in Tennessee?
Memphis, TN offers the most affordable rent among major Tennessee metros at $1,274/month for a 2-bedroom apartment. Studios in Memphis average $1,060/month.
What is the most expensive city to rent in Tennessee?
Nashville, TN has the highest rents in Tennessee at $1,730/month for a 2-bedroom apartment. This is $249 above the state average.
How much do I need to earn to rent in Tennessee?
To comfortably afford the average Tennessee 2-bedroom at $1,481/month, you would need an annual income of approximately $59,240 (based on the 30% of income guideline). For the most affordable areas, you would need about $50,960/year.
Is Tennessee affordable for renters?
Tennessee offers moderate rental costs, with average 2-bedroom rents at $1,481/month. Some cities offer excellent value while others command premium prices.
Helpful Resources for Tennessee Renters
Moving to Tennessee? These comprehensive resources help you understand your rights, find assistance programs, and navigate the rental process.