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Cost of Renting in Tennessee

Average Rent, Utilities, Deposits & What Renters Should Expect The cost of renting in Tennessee remains more affordable than much of the U.S., which is why the state continues to attract renters relocating from higher-cost areas like California, New York, Illinois, Florida, and the Northeast. This guide breaks down the real cost of renting in Tennessee, including average rent prices, utilities, deposits, regional differences, and what renters should budget for each month.

Is Renting in Tennessee Affordable?

Yes. Tennessee’s rental costs are below the national average, especially outside of Nashville and its surrounding suburbs.
  • U.S. average rent index: 100
  • Tennessee rent index: ~88–92
That means renters often pay 8–12% less than the national average, depending on city and property type. Shape

Average Rent in Tennessee (Statewide)

Rental prices vary widely by location, but these are typical statewide ranges:

Apartments

  • 1-bedroom: $900 – $1,400
  • 2-bedroom: $1,100 – $1,700
  • 3-bedroom: $1,400 – $2,000
Homes for Rent
  • Single-family homes: $1,400 – $2,400+
  • Larger homes and newer construction can exceed this range in high-demand areas
Browse Homes for Sale in Tennessee→
Browse Rentals in Tennessee →

Cost of Renting by Region

Average Rent Across East, Middle, and West Tennessee

East Tennessee

Cities: Knoxville, Johnson City, Kingsport, Bristol, Chattanooga
  • Lower rent compared to national average
  • Strong value for families and retirees
  • Popular for outdoor lifestyle renters

Typical 2-bedroom rent: $1,100 – $1,500

Middle Tennessee

Cities: Nashville, Franklin, Murfreesboro, Clarksville, Cookeville
  • Highest rental prices near Nashville
  • Strong job-driven demand
  • Wide range of housing types

Typical 2-bedroom rent: $1,400 – $2,100+

West Tennessee

Cities: Memphis, Jackson
  • Some of the lowest rents in the state
  • Excellent value for first-time renters
  • Strong rental inventory

Typical 2-bedroom rent: $1,000 – $1,400

Security Deposits & Upfront Costs

When renting in Tennessee, expect the following upfront expenses:
  • Security deposit: Usually 1 month’s rent
  • Application fee: $30–$75 per adult
  • Pet deposit or fee: Varies by property
  • First month’s rent: Due before move-in

Some properties may also require:

  • Last month’s rent
  • Admin or processing fees

Renting Costs & Pet Fees

Pet Fees & Pet Rent

Pet-friendly rentals are common in Tennessee, but most charge additional fees.

Typical pet costs:

  • Non-refundable pet fee: $200–$500
  • Monthly pet rent: $20–$50 per pet
  • Breed or size restrictions may apply

Single-family home rentals are often more flexible with pets than apartments.

Utilities & Monthly Living Costs

Rent is only part of the monthly budget. Most renters should also plan for:
  • Electricity: $120 – $180
  • Water & sewer: $40 – $70
  • Internet: $60 – $90
  • Trash: Sometimes included

Apartments may include some utilities, while homes for rent usually do not.

Transportation Costs

Transportation in Tennessee is relatively affordable.
  • Gas prices below national average
  • Minimal toll roads
  • Shorter commutes outside major metros

Most renters will need a personal vehicle, especially outside city centers. Shape

Apartments vs Homes for Rent (Cost Comparison)

Apartments

  • Lower rent and utilities
  • Fewer maintenance responsibilities
  • Amenities included (gym, pool, etc.) Homes for Rent

Homes for Rent

  • Higher monthly rent
  • More space and privacy
  • Better for families and pets

Is Rent Increasing in Tennessee?

Rental prices have risen in recent years due to:
  • Population growth
  • Job expansion
  • Higher homeownership barriers
However, Tennessee remains more affordable than many comparable states, and rent growth is stabilizing in many markets.

Is Renting or Buying Cheaper in Tennessee?

This depends on location, timing, and personal finances.
  • Renting offers flexibility
  • Buying builds equity but requires upfront costs
Many people choose to rent first, then buy once they’re settled.

Find Rentals Across Tennessee

WhyTennessee.com helps renters:
  • Compare rental costs by city
  • Browse homes, condos, and apartments for rent
  • Connect with local realtors and property managers
Browse Rentals in Tennessee →

Final Thoughts

The cost of renting in Tennessee remains one of the state’s biggest advantages. Whether you’re moving for work, lifestyle, or affordability, Tennessee offers strong rental value across a wide range of cities and property types. Shape

Disclaimer

The information provided is for general informational purposes only and should not be considered financial, legal, or real estate advice. Costs, prices, and conditions may vary by location and over time.