Nashville Real Estate Market Overview
Average Monthly Rent:
$1,342
Percentage Change in Home Price/Value:
3.10%
Median Home Value:
$263,000
Best Time To Sell Home:
May
Affordability Index:
151.6
Days To Sell House:
62.083
Job Market:
Strong
Public School Ranking:
34
Location and Weather
Nashville is in the north-central part of Tennessee. The Cumberland River runs through its cobblestone downtown area providing beautiful river views. Home to the Grand Old Opry and the famous Ryman Auditorium where the Grand Old Opry originated, Nashville is the home of country music. The climate is moderate with warm, humid summers and cold but not frigid winters with light snow occasionally.
Population, Job Market and Cost of Living
Known as “Music City”, Nashville has experienced rapid growth in the past 10 years with the gentrification of parts of the city and a population of 669,053 that is expected to reach 2 million by 2020.
With the growing population comes a diversity of businesses and employment opportunities. The job growth is 2.4%. With that growth comes a higher cost of living due to the Nashville real estate market with an increase in housing prices and home sales in the past 10 years. There are three major universities in the city including David Lipscomb University, Vanderbilt University and Belmont College. There are also large health care businesses that are major employers including Envision Healthcare, Vanguard Health and Vanderbilt Health.
Nashville has a rich, welcoming heritage for those that want a great quality of life in a growing southern city. With a growing job market, beautiful location and major airport, Nashville is poised to continue to attract new people that want a seasonal southern lifestyle.
