As more and more investors eye Nashville, strong demand is additionally expected to push up rent. Both are in the forecast for 2020, at least according to Marcus & Millichap, a brokerage and investment firm.
The firm predicts Nashville will be one of the larger cities in the nation to continue to see rent growth and investment over the next year. According to its figures, net migration to the city this year will likely be between 10,000 to 30,000 people.
Many of them may be coming for new jobs. Amazon and Asurion are together expected to generate more than 5,000 workers. With that in mind, strong demand will help push the average effective rent to $1,365 per month.
Places south of downtown, like Smyrna and Murfreesboro, will likely see the completion of more housing construction. Both locations typically attract renters with lower rent prices than you can find in central Nashville.