Quick facts: Nashville, TN

Quick Facts

105.2
Cost of Living
above US average
692,587
Population
8.91
Crime Rate per 1000
below US average
$63,800
Median Income
below US average
$801,500
Median House Price
above US average
$1693
Average Rent
above US average
12%
Poverty Rate
above US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $63,800.

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Income Needed to Buy

βœ— Stretch
$251k/year
Based on $801,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $251k vs median $63,800
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Income Needed to Rent

⚠ Stretch
$73k/year
Based on $1693/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $73k vs median $63,800
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Nashville, TN

Nashville, Tennessee, known as "Music City," is the capital of the state and a cultural hub famous for its vibrant music scene, particularly country music. The city is the heart of the country music industry and home to iconic venues like the Grand Ole Opry, the Country Music Hall of Fame, and the Ryman Auditorium. Nashville's rich musical history is complemented by its diverse arts scene, with numerous theaters, galleries, and festivals enriching the cultural landscape. In addition to music, Nashville boasts a rich culinary scene, with famous hot chicken, barbecue, and a plethora of restaurants showcasing Southern cuisine. The city's population is diverse, contributing to a dynamic atmosphere filled with opportunities and modern amenities. Nashville is also a center for education and healthcare, hosting several universities and medical institutions. Its economy is robust, driven by music, healthcare, technology, and tourism. The city features beautiful parks, the Cumberland River, and historic neighborhoods, making it a welcoming destination for visitors and a vibrant place for residents.

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