Matrix Multifamily Nashville Report-January 2024 January 29, 2024

Rents drop in Nashville

Nashville rents continued to decrease, down 0.6 percent on a T3 basis through November 2023 to $1,634, as new supply came online and softened the occupancy rate by 70 basis points. However, both the population and job market expanded, with employment up 3.8 percent in the 12 months ending in September, well ahead of the 2.4 percent U.S. average.