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Rental Insights for ZIP Code 37207 (Nashville, TN)

Housing Rentals in ZIP Code 37207 (Nashville, TN)

37207 ZIP Code in Tennessee

An In-depth Rental Snapshot of ZIP Code 37207

The 37207 ZIP Code is primarily located in Nashville, TN in Davidson County. The estimated median housing rent in this region of Tennessee is $944 per month. About 41.6% of housing units in this Davidson County ZIP Code are renter-occupied, and the region has an approximate rental vacancy rate of 5.3%.

The median rent in ZIP Code 37207 of $944 per month is 9% higher than the aggregate Tennessee median monthly rent of $869, and is 11% lower than the $1,062 the median monthly rent in the U.S. overall. Approximately 44.8% of residents in ZIP Code 37207 pay between $500 and $999 per month for rent. That is 12% lower than in Tennessee overall, in which 50.8% of total state residents pay between $500 and $999 per month for housing. Just 0.1% of renters in this Nashville, TN region pay between $2,500 and $2,999 for monthly rent.

ZIP Code 37207 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 37207

See the chart below for a comparison of monthly rental costs in ZIP Code 37207, Tennessee, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 37207 along with those in the state of Tennessee and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 37207

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 37207 Tennessee U.S.
Less than $500 13.4% 12.8% 9.4%
$500 to $999 44.8% 50.8% 36.2%
$1,000 to $1,499 33.4% 26.9% 30.0%
$1,500 to $1,999 8.1% 6.7% 14.0%
$2,000 to $2,499 0.3% 1.8% 5.6%
$2,500 to $2,999 0.1% 0.5% 2.4%
$3,000 or more 0.0% 0.5% 2.4%

Rent Cost vs. Income in ZIP Code 37207

Renters in ZIP Code 37207 use an estimated 31.8% of their income to cover their monthly rent payments. That is about 9% higher than in Tennessee overall. The estimate for Tennessee overall is 29.18% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 37207 renters use about 7% more of their income to cover rent expense. Household income figures for ZIP Code 37207 come in lower than in Tennessee as a whole. The median annual household income in ZIP Code 37207 of $42,973 sits approximately 19% lower than the overall Tennessee median income of $53,320 and approximately 32% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 37207

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 37207, Tennessee, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 37207 along with the same calculations in the state of Tennessee and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 37207

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 37207 Tennessee U.S.
Less than 15.0 percent 7.9% 14.1% 13.1%
15.0 to 19.9 percent 9.6% 13.4% 12.9%
20.0 to 24.9 percent 13.6% 12.8% 12.9%
25.0 to 29.9 percent 13.5% 12.3% 11.6%
30.0 to 34.9 percent 10.3% 9.4% 9.1%
35.0 percent or more 45.2% 37.9% 40.5%

Household Income in ZIP Code 37207

See the table below for the regional comparison of annual household income in ZIP Code 37207.

Income ZIP 37207 Tennessee U.S.
Less than $10,000 10.0% 6.9% 6.0%
$10,000 to $14,999 5.7% 5.2% 4.3%
$15,000 to $24,999 11.9% 10.6% 8.9%
$25,000 to $34,999 12.8% 10.4% 8.9%
$35,000 to $49,999 16.6% 14.0% 12.3%
$50,000 to $74,999 17.7% 18.3% 17.2%
$75,000 to $99,999 11.6% 12.4% 12.7%
$100,000 to $149,999 10.3% 12.8% 15.1%
$150,000 to $199,999 2.3% 4.7% 6.8%
$200,000 or more 1.1% 4.8% 7.7%

Household Income in ZIP Code 37207

See the chart below for a comparison of annual household income figures in ZIP Code 37207, Tennessee, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 37207 alongside the same figures for the state of Tennessee and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 37207

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 37207.

ZIP 37207 Tennessee U.S.
Median Housing Rent $944 $869 $1,062
Renter-Occupied Housing Units 41.6% 33.7% 36.0%
Rental Vacancy Rate 5.3% 7.1% 6.0%
Average Size of Renter-Occupied Unit 2.68 2.42 2.49
Average # of Bedrooms Per Unit 2.7 2.81 2.75
Percent of Income Spent on Rent 31.8% 29.18% 29.83%
Per Capita Income $21,937 $29,859 $34,103
Median Household Income $55,357 $74,750 $88,607
Living Below the Poverty Line 23.4% 11.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 37207

In ZIP Code 37207 (Nashville, TN), and estimated 41.6% of housing units are occupied by renters. This region has an approximate rental vacany rate of 5.3%.

The per capita income in 37207 is estimated at $21,937, which goes along with an estimated median household income of $55,357. About 23.4% of residents in this Davidson County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.68 occupants, while the units have an aggregate average size of 2.7 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 31.8% of their income on housing rental costs.

Rental FAQs for ZIP Code 37207

1

What is the median monthly rent in ZIP Code 37207?

Median rent for housing in ZIP Code 37207 in Davidson County in Tennessee is approximately $944 per month.
2

Is it expensive to rent in ZIP Code 37207?

Rent in ZIP Code 37207 is higher than average in the state of Tennessee overall. The median monthly rent of $944 in ZIP Code 37207 is approximately 9% higher than the Tennessee median of $869. Additionally, median rent in this Nashville, TN region ($944) is about 11% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 37207?

High-priced rentals are not common in the Nashville, TN ZIP Code of 37207, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Tennessee overall, approximately 0.5% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 37207?

Affordable rentals are less common in ZIP Code 37207 than in Tennessee overall. The percentage of housing rentals in ZIP Code 37207 costing $999 or less per month (58.2%) is approximately 8% lower than the Tennessee rate of 63.6% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 28% lower than the previously mentioned 37207 rate of 58.2%.
5

What is the most common cost range that rentals fall into in ZIP Code 37207?

The most common range for rental cost in ZIP Code 37207 is between $500 and $999 per month. About 44.8% of renters in 37207 pay in this range for monthly rent. In comparison, approximately 50.8% of renters in the state of Tennessee fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 37207 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 37207 is lower than the rental vacancy rate in the state of Tennessee overall. Rental vacancy of 5.3% in ZIP Code 37207 is about 25% lower than the Tennessee rate of 7.1%. Looking more broadly, rental vacancy in this Nashville, TN region (5.3%) is an estimated 12% lower than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 37207? How does it compare to other Tennessee regions?

Median household income in ZIP Code 37207 is lower than in the state of Tennessee overall. Annual household income of $42,973 in ZIP Code 37207 is about 19% lower than the Tennessee median of $53,320. Additionally, median household income in this Nashville, TN region ($42,973) is approximately 32% lower than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 37207 spend on housing costs?

Renters in ZIP Code 37207 spend a higher amount of their income on rent costs than do renters in Tennessee overall. Renters in ZIP Code 37207 spend an estimated 31.8% of their income on rent payments, which is about 9% higher than the overall Tennessee estimated rate of 29.18%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 7% lower than the ZIP Code 37207 estimated rate of 31.8%.
9

Do renters in ZIP Code 37207 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 37207 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 37207 spending 30 percent or more of their income on rent costs (55.5%) is approximately 17% higher than the Tennessee rate of 47.3% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 12% lower than the aforementioned 37207 rate of 55.5%.
10

What is the average household size of renter-occupied units in ZIP Code 37207?

The average household size of renter-occupied units in ZIP Code 37207 is higher than in the state of Tennessee overall. Annual household size of 2.68 in ZIP Code 37207 is about 11% higher than the Tennessee median of 2.42. Additionally, median household size in this Nashville, TN region (2.68) is approximately 8% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Tennessee ZIP Codes