Rent vs Buy in Nashville, TN
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Nashville, TN
Price-to-rent ratio is 19.7 (under 15 favors buying, over 21 favors renting). Renting costs $1,798/mo; owning runs about $3,231/mo — $1,433/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 7.18% rate) | $2,308 |
| Property tax | $390 |
| Home insurance | $177 |
| Maintenance | $355 |
| Total to own | $3,231 |
| Average 2BR rent | $1,798 |
Based on a median home value of $425,889 with a $85,178 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.