Springfield, TN Rental Market Trends
Highlights
The average rent for an apartment in Springfield is $968, a 9% increase compared to the previous year, when the average rent was $892.
Average Rent in Springfield, TN
Last updated December 2019
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $968 | 9% | 1,033 sq. ft. |
The average size for a Springfield, TN apartment is 1,033 square feet, but this number varies greatly depending on apartment type. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Springfield, TN Apartment Rent Ranges
- $501-$7007%
- $701-$1,00026%
- $1,001-$1,50067%
Springfield, TN Occupied Housing Units
- Renter-occupied Households33%
- Owner-occupied Households66%
2,153 or 33% of the households in Springfield, TN are renter-occupied while 4,187 or 66% are owner-occupied.
Springfield, TN Rent Trends
| Average Rent | Nov / 2016 | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Dec / 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Springfield, TN | $971 | $862 | $910 | $822 | $839 | $839 | $892 | $914 | $983 | $968 |
| National | $1,353 | $1,349 | $1,381 | $1,383 | $1,386 | $1,421 | $1,430 | $1,434 | $1,470 | $1,476 |
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How Does Springfield Compare to Nearby Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| White House | $1,242 | 10% |
| Springfield City | $968 | 9% |
| Springfield | $968 | 9% |
| Greenbrier | $700 | -8% |
| Greenbrier Town | $700 | -8% |
| Ridgetop | $700 | -8% |
For more information about the Springfield rental trends, check out our monthly rent report
Cheapest Listings on RENTCafé
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Springfield apartment buildings 50 units or larger. Yardi Matrix covers ~90% of the U.S. metro area population, including ~17 million apartments across more than 130 U.S. markets.