Springfield, TN Rental Market Trends
Highlights
The average rent for an apartment in Springfield is $989, a 2% increase compared to the previous year, when the average rent was $968.
Average Rent in Springfield, TN
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $989 | 2% | 1,033 sq. ft. |
The average size for a Springfield, TN apartment is 1,033 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. 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-$1,00073%
- $1,001-$1,50021%
Springfield, TN Occupied Housing Units
- Renter-occupied Households31%
- Owner-occupied Households68%
1,951 or 31% of the households in Springfield, TN are renter-occupied while 4,261 or 68% are owner-occupied.
Springfield, TN Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Jan / 2021 |
|---|---|---|---|---|---|---|---|---|---|
| Springfield, TN | $839 | $839 | $892 | $914 | $983 | $968 | $967 | $996 | $989 |
| National | $1,381 | $1,418 | $1,428 | $1,432 | $1,468 | $1,475 | $1,477 | $1,464 | $1,462 |
How Springfield Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Nashville | $1,399 | -2% |
| Memphis | $890 | 6% |
| Murfreesboro | $1,183 | 2% |
| Knoxville | $1,127 | 5% |
| Antioch | $1,064 | 1% |
| Hendersonville | $1,169 | 1% |
| Mount Juliet | $1,438 | 1% |
| Hermitage | $1,143 | -2% |
| Gallatin | $1,163 | 1% |
| Madison | $1,004 | 2% |
| Springfield | $989 | 2% |
For more information about the Springfield rental trends, check out our monthly rent report
Check out Tennessee Cities, Tennessee Neighborhoods and Tennessee Zip Codes for more details on verified listings, including the Tennessee Average Rent.
Curious about listings in your area? Check out our apartments near you for more details!