Zip codes with the fastest growing rent in Tennessee

Written by:
March 25, 2021
realtor.com

Zip codes with the fastest growing rent in Tennessee

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in Tennessee using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

Zip codes with the fastest growing rent in Tennessee

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in Tennessee using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

#30. 37027 (Brentwood)

- 1 year rent change: +3.5%
--- #9 fastest growing rent among zip codes in Nashville, TN metro
- 5 year rent change: +12.4%
- Typical rent: $2,077
--- 27.7% above typical rent in Nashville, TN metro

- Pictured (for rent): 300 Seven Springs Way, Brentwood 37027 ($2,124)

#29. 37167 (Smyrna)

- 1 year rent change: +3.8%
--- #8 fastest growing rent among zip codes in Nashville, TN metro
- 5 year rent change: +23.3%
- Typical rent: $1,576
--- 3.1% less than typical rent in Nashville, TN metro

- Pictured (for rent): 500 Noel Ln, Smyrna 37167 ($1,230)

#28. 37127 (Murfreesboro)

- 1 year rent change: +4.2%
--- #7 fastest growing rent among zip codes in Nashville, TN metro
- 5 year rent change: +15.4%
- Typical rent: $1,664
--- 2.3% above typical rent in Nashville, TN metro

- Pictured (for rent): 2840 S Church St, Murfreesboro 37127 ($1,399)

#27. 37128 (Murfreesboro)

- 1 year rent change: +4.5%
--- #6 fastest growing rent among zip codes in Nashville, TN metro
- 5 year rent change: +20.4%
- Typical rent: $1,533
--- 5.7% less than typical rent in Nashville, TN metro

- Pictured (for rent): 1307 Westlawn Blvd, Murfreesboro 37128 ($1,638)

#26. 37215 (Nashville)

- 1 year rent change: +5.0%
--- #5 fastest growing rent among zip codes in Nashville, TN metro
- 5 year rent change: +11.4%
- Typical rent: $2,058
--- 26.6% above typical rent in Nashville, TN metro

- Pictured (for rent): 2502 Sharondale Dr, Nashville 37215 ($1,350)

#25. 37130 (Murfreesboro)

- 1 year rent change: +5.6%
--- #4 fastest growing rent among zip codes in Nashville, TN metro
- 5 year rent change: +25.2%
- Typical rent: $1,337
--- 17.8% less than typical rent in Nashville, TN metro

- Pictured (for rent): 805 Bradyville Pike, Murfreesboro 37130 ($1,434)

#24. 37216 (Nashville)

- 1 year rent change: +5.7%
--- #3 fastest growing rent among zip codes in Nashville, TN metro
- 5 year rent change: +28.1%
- Typical rent: $1,674
--- 3.0% above typical rent in Nashville, TN metro

- Pictured (for rent): 488 Lemont Dr, Nashville 37216 ($1,699)

#23. 37912 (Knoxville)

- 1 year rent change: +6.5%
--- #4 fastest growing rent among zip codes in Knoxville, TN metro
- 5 year rent change: +30.2%
- Typical rent: $900
--- 35.2% less than typical rent in Knoxville, TN metro

- Pictured (for rent): 5004 Willoway Dr, Knoxville 37912 ($655)

#22. 37086 (La Vergne)

- 1 year rent change: +6.6%
--- #2 fastest growing rent among zip codes in Nashville, TN metro
- 5 year rent change: +26.9%
- Typical rent: $1,605
--- 1.3% less than typical rent in Nashville, TN metro

- Pictured (for rent): 126 Kingsridge Dr, La Vergne 37086 ($899)

#21. 37207 (Nashville)

- 1 year rent change: +6.8%
--- #1 fastest growing rent among zip codes in Nashville, TN metro
- 5 year rent change: +28.5%
- Typical rent: $1,589
--- 2.3% less than typical rent in Nashville, TN metro

- Pictured (for rent): 590 Joseph Ave, Nashville 37207 ($1,128)

#20. 38103 (Memphis)

- 1 year rent change: +6.8%
--- #19 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +23.6%
- Typical rent: $1,672
--- 16.9% above typical rent in Memphis, TN metro

- Pictured (for rent): 99 N Main St, Memphis 38103 ($2,594)

#19. 38128 (Memphis)

- 1 year rent change: +7.5%
--- #18 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +15.7%
- Typical rent: $964
--- 32.6% less than typical rent in Memphis, TN metro

- Pictured (for rent): 4795 Hoover Dr, Memphis 38128 ($799)

#18. 38111 (Memphis)

- 1 year rent change: +7.8%
--- #17 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +27.3%
- Typical rent: $1,039
--- 27.3% less than typical rent in Memphis, TN metro

- Pictured (for rent): 395 S Highland St, Memphis 38111 ($2,323)

#17. 38134 (Memphis)

- 1 year rent change: +8.2%
--- #16 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +27.8%
- Typical rent: $1,247
--- 12.8% less than typical rent in Memphis, TN metro

- Pictured (for rent): 1400 Greenbrook Pkwy, Memphis 38134 ($1,299)

#16. 37923 (Knoxville)

- 1 year rent change: +8.3%
--- #3 fastest growing rent among zip codes in Knoxville, TN metro
- 5 year rent change: +23.7%
- Typical rent: $1,390
--- 0.1% above typical rent in Knoxville, TN metro

- Pictured (for rent): 1040 Ebenezer Rd, Knoxville 37923 ($1,976)

#15. 37918 (Knoxville)

- 1 year rent change: +8.9%
--- #2 fastest growing rent among zip codes in Knoxville, TN metro
- 5 year rent change: +27.8%
- Typical rent: $1,259
--- 9.4% less than typical rent in Knoxville, TN metro

- Pictured (for rent): 5000 Tazewell Pike, Knoxville 37918 ($1,177)

#14. 38017 (Collierville)

- 1 year rent change: +8.9%
--- #15 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +23.9%
- Typical rent: $1,904
--- 33.1% above typical rent in Memphis, TN metro

- Pictured (for rent): 1700 Elkstone Dr S, Collierville 38017 ($2,400)

#13. 37421 (Chattanooga)

- 1 year rent change: +9.0%
--- #1 fastest growing rent among zip codes in Chattanooga, TN metro
- 5 year rent change: +17.5%
- Typical rent: $1,390
--- 7.3% above typical rent in Chattanooga, TN metro

- Pictured (for rent): 2209 Ashford Villa Cir, Chattanooga 37421 ($1,724)

#12. 38109 (Memphis)

- 1 year rent change: +9.2%
--- #14 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +18.9%
- Typical rent: $829
--- 42.0% less than typical rent in Memphis, TN metro

- Pictured (for rent): 5228 Whistling Duck Dr, Memphis 38109 ($830)

#11. 38114 (Memphis)

- 1 year rent change: +9.7%
--- #13 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +10.7%
- Typical rent: $940
--- 34.3% less than typical rent in Memphis, TN metro

- Pictured (for rent): 2295 Candlewyck Cir, Memphis 38114 ($629)

#10. 38118 (Memphis)

- 1 year rent change: +9.7%
--- #12 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +23.2%
- Typical rent: $903
--- 36.9% less than typical rent in Memphis, TN metro

- Pictured (for rent): 2893 Getwell Rd, Memphis 38118 ($704)

#9. 38016 (Cordova)

- 1 year rent change: +9.9%
--- #11 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +24.4%
- Typical rent: $1,608
--- 12.4% above typical rent in Memphis, TN metro

- Pictured (for rent): 1810 W Wolfchase Cir, Cordova 38016 ($1,305)

#8. 38115 (Memphis)

- 1 year rent change: +10.0%
--- #10 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +19.1%
- Typical rent: $1,176
--- 17.8% less than typical rent in Memphis, TN metro

- Pictured (for rent): 2940 Hickory Hill Ext, Memphis 38115 ($890)

#7. 38135 (Memphis)

- 1 year rent change: +10.6%
--- #9 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +25.2%
- Typical rent: $1,716
--- 20.0% above typical rent in Memphis, TN metro

- Pictured (for rent): 4200 Trenton Dr, Bartlett 38135 ($1,504)

#6. 37920 (Knoxville)

- 1 year rent change: +10.9%
--- #1 fastest growing rent among zip codes in Knoxville, TN metro
- 5 year rent change: +45.4%
- Typical rent: $1,563
--- 12.5% above typical rent in Knoxville, TN metro

- Pictured (for rent): 1901 Foggy Bottom St, Knoxville 37920 ($1,975)

#5. 38125 (Memphis)

- 1 year rent change: +11.0%
--- #8 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +26.2%
- Typical rent: $1,607
--- 12.4% above typical rent in Memphis, TN metro

- Pictured (for rent): 3333 Hacks Cross Rd, Memphis 38125 ($1,729)

#4. 38127 (Memphis)

- 1 year rent change: +11.3%
--- #7 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +25.0%
- Typical rent: $801
--- 44.0% less than typical rent in Memphis, TN metro

- Pictured (for rent): 2603 Pojest Dr, Memphis 38127 ($810)

#3. 38018 (Cordova)

- 1 year rent change: +11.5%
--- #5 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +26.3%
- Typical rent: $1,567
--- 9.6% above typical rent in Memphis, TN metro

- Pictured (for rent): 8546 Prestine Loop, Cordova 38018 ($1,677)

#2. 38141 (Memphis)

- 1 year rent change: +11.5%
--- #4 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +25.7%
- Typical rent: $1,305
--- 8.7% less than typical rent in Memphis, TN metro

- Pictured (for rent): 5787 Jardin Pl, Memphis 38141 ($1,200)

#1. 38002 (Arlington)

- 1 year rent change: +12.5%
--- #1 fastest growing rent among zip codes in Memphis, TN metro
- 5 year rent change: +31.4%
- Typical rent: $1,821
--- 27.3% above typical rent in Memphis, TN metro

- Pictured (for rent): 2918 Champions Dr, Arlington 38002 ($1,436)

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