Nashville Among Top 20 Expensive Cities For Renters-By-Choice
Nashville's on another Top 20 list: HomeUnion, an online real estate investment management firm, puts a Music City neighborhood as No. 20 in most expensive places for renters-by-choice. The company (using Census and Maponics data) analyzed ZIP codes where more than 25% of the submarket’s real estate is rental stock, and those households have a median income in the 75th percentile.
Renters in Franklin pay the highest in Metro Nashville: an average of $2,534/month. Household income averages $94,458/year, and 26% of the residential space is rental. No. 1 in the nation (not surprisingly) is Tribeca in Manhattan, were rents average $8,762/month and incomes average $204,822/year.