{"id":1982,"date":"2021-10-15T13:36:19","date_gmt":"2021-10-15T13:36:19","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=1982"},"modified":"2024-02-06T11:00:44","modified_gmt":"2024-02-06T11:00:44","slug":"nashville-multifamily-market-report-summer-2021-2","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/nashville-multifamily-market-report-summer-2021-2\/","title":{"rendered":"Nashville Multifamily Market Report \u2013 Summer 2021"},"content":{"rendered":"<h2>Picking Up The Tempo<\/h2>\n<p>Nashville\u2019s multifamily market is well on its way to recovery. July rents averaged $1,424, up 2.0% on a trailing three-month (T3) basis. Lifestyle figures performed the best, growing 2.3% during the same period, while working-class Renter-by-Necessity rates increased 1.4%. This, along with increasing occupancy rates, highlights a healthy demand fueled by rapid population growth. On a year-over year basis, Nashville rents were up 10.4%, outperforming an already impressive 8.3% national rate.<\/p>\n<p>The metro added 96,900 jobs in the 12 months ending in May. All employment sectors registered gains, and Nashville\u2019s unemployment rate\u2014a preliminary 4.6% in June\u2014was 80 basis points lower than the U.S. figure. Nashville stands to benefit from a resurgence in tourism, but its diversified economy is also propelling it forward, particularly as major companies eye Music City for relocations or expansions.<\/p>\n<p>Close to 17,000 units were under construction at the end of July, though multifamily groundbreakings slowed this year. Yardi Matrix expects a little over 3,000 units to come online in 2021\u2014the metro\u2019s lowest level since 2014\u2014which should help elevate rents further. Transaction activity, on the other hand, has picked up, with $1.1 billion in sales closing year-to-date through July, more than double the figure recorded during the same time frame last year.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/Publications\/Download\/File\/1325-MatrixMultifamilyNashvilleReportII-Summer2021?utm_source=Matrix-Blog&amp;utm_medium=Social\"><strong>Matrix Multifamily Nashville Report II-Summer 2021<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Picking Up The Tempo Nashville\u2019s multifamily market is well on its way to recovery. July rents averaged $1,424, up 2.0% on a trailing three-month (T3) basis. Lifestyle figures performed the best, growing 2.3% during the same period, while working-class Renter-by-Necessity rates increased 1.4%. This, along with increasing occupancy rates, highlights a healthy demand fueled by [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":1983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[221,456],"class_list":["post-1982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2021","tag-nashville"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nashville Multifamily Market Report \u2013 Summer 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Nashville\u2019s multifamily market is well on its way to recovery. July rents averaged $1,424, up 2.0% on a trailing three-month (T3) basis.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/nashville-multifamily-market-report-summer-2021-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nashville Multifamily Market Report \u2013 Summer 2021\" \/>\n<meta property=\"og:description\" content=\"Nashville\u2019s multifamily market is well on its way to recovery. July rents averaged $1,424, up 2.0% on a trailing three-month (T3) basis.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/nashville-multifamily-market-report-summer-2021-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-15T13:36:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-06T11:00:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/10\/Nashville-iStock-1328352202.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jeff Hamann\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Nashville Multifamily Market Report \u2013 Summer 2021 - Yardi Matrix Blog","description":"Nashville\u2019s multifamily market is well on its way to recovery. 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