What is the average cost of housing in Nashville Tennessee?

What is the average cost of housing in Nashville Tennessee?

Comparison of Median Housing Costs in Nashville The median list price for all homes in Nashville, including single-family homes, condos, and townhomes, is around $262,000. However, it will be more expensive in popular luxury Nashville neighborhoods.

What does SoBro in Nashville mean?

The south side of downtown Nashville’s Broadway is called SoBro.

Is Nashville rent expensive?

The average highest rent is just over $2300 in downtown Nashville. And the lowest rent average is about $1,079 in the Bordeaux-Whites Creek area. The data also showed that rent had increased almost 13.92% from the first quarter of 2021. And the average rent price is $1530.

Is it expensive to live in downtown Nashville?

Nashville’s housing expenses are 9% lower than the national average and the utility prices are 10% lower than the national average. Transportation expenses like bus fares and gas prices are 0% higher than the national average. Nashville has grocery prices that are 3% lower than the national average.

What is a good salary in Nashville?

In 2017, GoBankingRates.com estimated that residents should earn at least $70,150 annually. Actual median household income lags far behind, at $49,891. In contrast, the national median income is $55,300, according to the U.S. Census Bureau.

Where is the rich part of Nashville?

Belle Meade – With homes ranging all the way up to $18 million, this is one of the most expensive areas in the entire city. You will find many homes on large lots with at least 5,000 square feet in this neighborhood. Green Hills – Many homes in this neighborhoods range from $1 to $3 million.

Why is Tootsies in Nashville famous?

Tootsies is the most famous honky tonk on downtown Nashville’s Broadway. It has hosted and nurtured dozens of Country Music’s legends — such as Faron Young, Charley Pride, Patsy Cline, and Loretta Lynn, to name a few — and is responsible for grooming many of Music City’s stars of tomorrow.

Can I afford to live in Nashville?

According to the U.S. Department of Housing and Urban Development, affordable housing is units available for people who make up to 80% of the area median income. For a family of four in Nashville, that would be $67,450 or less.

What is considered rich in Nashville TN?

Here’s what it takes to be considered ‘rich’ in Nashville In Nashville, you’ll need to earn $115,609 or more to be considered a “rich” person in the top 20% of the city’s 663,750 residents. The ultra-rich, or the top 5% of earners in Nashville, make way more: $393,014 on average, according to the analysis.

What salary is considered rich in Tennessee?

Two Tennessee cities made the list – Memphis (47) and Nashville (26). The lowest income to be considered “rich” (Top 20%) in Memphis is $86,964. The average income of the top 20% comes in at $172,622. For the top 5%, the average income is $335,653.

Will Nashville rent go down?

Inventory continues to remain low across the Nashville Metro Area in residential housing. Inventory at the end of March 2022 was 2,298 units for sale, a decrease of 12.52% year-over-year….10. The Good Return on the Investment.