Average Rent in Tennessee: $1,460/mo (2026)

Find fair market rent prices for 3 major metro areas in Tennessee. The average 2-bedroom rent across the state is $1,460/mo.

$1,131
Avg. Studio
$1,277
Avg. 1BR
$1,460
Avg. 2BR
$1,866
Avg. 3BR
3
Cities Tracked
$1,274
Lowest 2BR Rent
$1,730
Highest 2BR Rent

Major Cities in Tennessee

Sorted by 2-bedroom rent price (highest to lowest)

1
Nashville, TN
Studio: $1,507 | 1BR: $1,578 | 3BR: $2,211
$1,730/mo2BR
2
Knoxville, TN
Studio: $825 | 1BR: $1,100 | 3BR: $1,705
$1,375/mo2BR
3
Memphis, TN
Studio: $1,060 | 1BR: $1,154 | 3BR: $1,683
$1,274/mo2BR

Explore Tennessee Rent Data

Browse detailed rent prices for cities across Tennessee. Each city page includes neighborhood breakdowns, rent trends, and local market insights.

Nashville Rent PricesKnoxville Rent PricesMemphis Rent Prices

Tennessee Rental Market Overview

The fair market rent (FMR) data for Tennessee is published annually by the U.S. Department of Housing and Urban Development (HUD). These figures represent the 40th percentile of gross rents for standard quality rental housing in each metro area.

Tennessee has 3 major metropolitan areas tracked in our database. The most expensive city for renters is Nashville, TN with an average 2-bedroom rent of $1,730/mo, while the most affordable is Memphis, TN at $1,274/mo.

What Affects Rent Prices in Tennessee?

  • Location: Proximity to employment centers and urban amenities significantly impacts rent prices across Tennessee metros.
  • Local Economy: Job growth and industry presence drive rental demand. Strong employment markets typically have higher rents.
  • Housing Supply: Areas with new construction tend to have more rental options and potentially competitive pricing.
  • Schools: Quality school districts command premium rents, especially for family-sized apartments.
  • Transportation: Access to highways and public transit affects neighborhood desirability and pricing.

Frequently Asked Questions About Tennessee Rent

What is the average rent in Tennessee?

The average rent in Tennessee is $1,460 per month for a 2-bedroom apartment based on 2026 HUD Fair Market Rent data. Prices range from $1,274 in Memphis to $1,730 in Nashville.

What is the cheapest city to rent in Tennessee?

Memphis, TN offers the most affordable rent among major Tennessee metros at $1,274/month for a 2-bedroom apartment. Studios in Memphis average $1,060/month.

What is the most expensive city to rent in Tennessee?

Nashville, TN has the highest rents in Tennessee at $1,730/month for a 2-bedroom apartment. This is $270 above the state average.

How much do I need to earn to rent in Tennessee?

To comfortably afford the average Tennessee 2-bedroom at $1,460/month, you would need an annual income of approximately $58,400 (based on the 30% of income guideline). For the most affordable areas, you would need about $50,960/year.

Is Tennessee affordable for renters?

Tennessee offers moderate rental costs, with average 2-bedroom rents at $1,460/month. Some cities offer excellent value while others command premium prices.