Davidson County Tennessee Residential Rent and Rental Statistics
The median monthly gross residential rent in Davidson County TN was $1,192 in 2019 according to the Census ACS survey.1 Average gross rent in Davidson County was $1,192 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Davidson County median and average rent data will be released in September of 2021.
Data is also available below for Davidson County rental vacancy rates, Davidson County rent as a percent of median income and the fraction of renters in Davidson County.
Real Gross Rent in Davidson County Tennessee (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Tennessee Median Gross Rent | $904 | +3.08% | +7.11% |
| Davidson County TN Median Gross Rent | $1,192 | +4.47% | +15.95% |
Davidson County TN Real Gross Rent Trends
At $1,192, real median gross rent in Davidson County was at its highest level in 2019 since the series began in 2005. At $1,192, real average gross rent in Davidson County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Davidson County TN Median, Davidson County TN Average, Tennessee Median, US Median
Real Gross Rent History for Davidson County
| Date | US Median |
Tennessee Median |
Davidson County TN Median |
Davidson County TN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $904 | $1,192 | $1,192 |
| 2018 | $1,077 | $877 | $1,141 | $1,140 |
| 2017 | $1,043 | $859 | $1,115 | $1,126 |
| 2016 | $1,027 | $844 | $1,028 | $1,052 |
| 2015 | $1,017 | $833 | $980 | $1,022 |
| 2014 | $986 | $813 | $936 | $971 |
| 2013 | $953 | $788 | $901 | $901 |
| 2012 | $940 | $777 | $871 | $893 |
| 2011 | $941 | $772 | $863 | $908 |
| 2010 | $955 | $779 | $867 | $889 |
| 2009 | $960 | $777 | $892 | $908 |
| 2007 | $927 | $745 | $839 | $855 |
| 2005 | $910 | $729 | $833 | $828 |
Davidson County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Davidson County Tennessee was 9.75% according to Census ACS data.
Rental Vacancy Rate in Davidson County Tennessee
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Tennessee | 7.27% | -0.29% | +0.59% |
| Davidson County TN | 9.75% | +0.25% | +6.56% |
Trends in Davidson County TN Rental Vacancy Rate
The rental vacancy rate in Davidson County peaked in 2009 at 11.86%. Since then it has fallen by 2.11% to 9.75%. Data records for this series originated in 2005. From a 2016 post peak low of 3.19%, the rental vacancy rate has increased by 6.56%.
Rental Vacancy Rate: Davidson County TN, Tennessee, US
Historical Rental Vacancy Rate data for Davidson County
| Date | US | Tennessee | Davidson County TN |
|---|---|---|---|
| 2019 | 5.97% | 7.27% | 9.75% |
| 2018 | 6.15% | 7.56% | 9.50% |
| 2017 | 6.18% | 6.67% | 7.00% |
| 2016 | 5.89% | 6.68% | 3.19% |
| 2015 | 5.85% | 7.13% | 5.06% |
| 2014 | 6.32% | 7.24% | 3.69% |
| 2013 | 6.49% | 7.86% | 5.68% |
| 2012 | 6.77% | 7.89% | 7.42% |
| 2011 | 7.40% | 8.54% | 7.72% |
| 2010 | 8.17% | 10.33% | 7.40% |
| 2009 | 8.43% | 10.52% | 11.86% |
| 2007 | 7.87% | 9.20% | 10.94% |
| 2005 | 7.74% | 8.82% | 9.71% |
Rent as a Fraction of Income
Using median household income data for Davidson County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Davidson County, median monthly gross rent as a fraction of median household income was 22.37% in 2019 according to the ACS.
Davidson County Tennessee Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Tennessee | 19.35% | -0.38% | -0.58% |
| Davidson County TN | 22.37% | +0.27% | +0.89% |
Trends in Davidson County TN Rent as a Fraction of Income
Davidson County renters paid 22.37% of median household income towards the median monthly gross rent in 2019. This is the highest fraction of median household income going to rent since the series originated in 2005.
Fraction of Income towards Rent: Davidson County TN, Tennessee, US
Historical Data for Annual Rent as a Fraction of Income in Davidson County Tennessee
| Date | US | Tennessee | Davidson County TN |
|---|---|---|---|
| 2019 | 20.03% | 19.35% | 22.37% |
| 2018 | 20.50% | 19.73% | 22.10% |
| 2017 | 20.13% | 19.47% | 22.18% |
| 2016 | 20.43% | 19.92% | 21.48% |
| 2015 | 20.63% | 19.93% | 21.31% |
| 2014 | 20.89% | 20.83% | 22.18% |
| 2013 | 20.78% | 20.26% | 21.79% |
| 2012 | 20.65% | 20.48% | 22.05% |
| 2011 | 20.70% | 20.58% | 22.01% |
| 2010 | 20.50% | 20.17% | 21.35% |
| 2009 | 20.12% | 19.61% | 20.27% |
| 2007 | 18.66% | 17.96% | 18.48% |
| 2005 | 18.89% | 18.00% | 19.66% |
Renter Fraction in Davidson County Tennessee
You can calculate the renter fraction in Davidson County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Davidson County as a fraction of total Davidson County households. In 2019 46.27% of households were renters according to Census ACS data.
Davidson County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Tennessee | 33.49% | -0.28% | -1.42% |
| Davidson County TN | 46.27% | -0.10% | -0.28% |
Trends in the Davidson County TN Renter Fraction
The Davidson County household renter fraction peaked in in 2012 at 47.95% and is now 1.68% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Davidson County TN, Tennessee, US
History of Davidson County Renter Fraction
| Date | US | Tennessee | Davidson County TN |
|---|---|---|---|
| 2019 | 35.89% | 33.49% | 46.27% |
| 2018 | 36.05% | 33.77% | 46.37% |
| 2017 | 36.13% | 34.57% | 46.94% |
| 2016 | 36.88% | 34.91% | 46.55% |
| 2015 | 36.97% | 34.18% | 45.64% |
| 2014 | 36.90% | 33.86% | 47.05% |
| 2013 | 36.50% | 33.62% | 45.53% |
| 2012 | 36.09% | 33.31% | 47.95% |
| 2011 | 35.42% | 32.72% | 46.07% |
| 2010 | 34.65% | 31.87% | 45.74% |
| 2009 | 34.13% | 30.85% | 42.84% |
| 2007 | 32.80% | 30.06% | 39.05% |
| 2005 | 33.10% | 30.74% | 42.47% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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