Multifamily Limited Supply Boosts Occupancy

According to MultiHousingNews;

  • Nashville’s multifamily market rents grew by 16.6 percent year-over-year through November 2021.
  • The average Nashville rate is now $1,508.
  • The occupancy rate in stabilized properties is approximately 96 percent.
  • Developers delivered 4,370 units in 2021 through November.
  • According to World Population Review, the population in Nashville has grown steadily between 1.4% and 2.0% year-over-year during the last decade.
  • Another 17,049 units are currently being constructed, which is 4 times as many units as was delivered in 2021.