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Rental Insights for ZIP Code 37208 (Nashville, TN)

Housing Rentals in ZIP Code 37208 (Nashville, TN)

37208 ZIP Code in Tennessee

An In-depth Rental Snapshot of ZIP Code 37208

The 37208 ZIP Code is primarily located in Nashville, TN in Davidson County. The estimated median housing rent in this region of Tennessee is $941 per month. About 66.8% of housing units in this Davidson County ZIP Code are renter-occupied, and the region has an approximate rental vacancy rate of 10.2%.

The median rent in ZIP Code 37208 of $941 per month is 8% 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 33.5% of residents in ZIP Code 37208 pay between $500 and $999 per month for rent. That is 34% lower than in Tennessee overall, in which 50.8% of total state residents pay between $500 and $999 per month for housing. Just 3.1% of renters in this Nashville, TN region pay between $2,500 and $2,999 for monthly rent.

ZIP Code 37208 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 37208

See the chart below for a comparison of monthly rental costs in ZIP Code 37208, Tennessee, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 37208 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 37208

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

Cost ZIP 37208 Tennessee U.S.
Less than $500 19.8% 12.8% 9.4%
$500 to $999 33.5% 50.8% 36.2%
$1,000 to $1,499 21.2% 26.9% 30.0%
$1,500 to $1,999 18.2% 6.7% 14.0%
$2,000 to $2,499 4.3% 1.8% 5.6%
$2,500 to $2,999 3.1% 0.5% 2.4%
$3,000 or more 0.0% 0.5% 2.4%

Rent Cost vs. Income in ZIP Code 37208

Renters in ZIP Code 37208 use an estimated 31.02% of their income to cover their monthly rent payments. That is about 6% 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 37208 renters use about 4% more of their income to cover rent expense. Household income figures for ZIP Code 37208 come in lower than in Tennessee as a whole. The median annual household income in ZIP Code 37208 of $39,964 sits approximately 25% lower than the overall Tennessee median income of $53,320 and approximately 36% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 37208

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 37208, 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 37208 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 37208

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

Rent Cost as % of Income ZIP 37208 Tennessee U.S.
Less than 15.0 percent 10.9% 14.1% 13.1%
15.0 to 19.9 percent 10.4% 13.4% 12.9%
20.0 to 24.9 percent 13.4% 12.8% 12.9%
25.0 to 29.9 percent 13.1% 12.3% 11.6%
30.0 to 34.9 percent 7.4% 9.4% 9.1%
35.0 percent or more 44.9% 37.9% 40.5%

Household Income in ZIP Code 37208

See the table below for the regional comparison of annual household income in ZIP Code 37208.

Income ZIP 37208 Tennessee U.S.
Less than $10,000 17.0% 6.9% 6.0%
$10,000 to $14,999 7.2% 5.2% 4.3%
$15,000 to $24,999 11.7% 10.6% 8.9%
$25,000 to $34,999 10.3% 10.4% 8.9%
$35,000 to $49,999 10.8% 14.0% 12.3%
$50,000 to $74,999 13.7% 18.3% 17.2%
$75,000 to $99,999 10.4% 12.4% 12.7%
$100,000 to $149,999 8.3% 12.8% 15.1%
$150,000 to $199,999 6.2% 4.7% 6.8%
$200,000 or more 4.4% 4.8% 7.7%

Household Income in ZIP Code 37208

See the chart below for a comparison of annual household income figures in ZIP Code 37208, Tennessee, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 37208 alongside the same figures for the state of Tennessee and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 37208

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 37208.

ZIP 37208 Tennessee U.S.
Median Housing Rent $941 $869 $1,062
Renter-Occupied Housing Units 66.8% 33.7% 36.0%
Rental Vacancy Rate 10.2% 7.1% 6.0%
Average Size of Renter-Occupied Unit 2.09 2.42 2.49
Average # of Bedrooms Per Unit 2.12 2.81 2.75
Percent of Income Spent on Rent 31.02% 29.18% 29.83%
Per Capita Income $31,964 $29,859 $34,103
Median Household Income $69,712 $74,750 $88,607
Living Below the Poverty Line 25.7% 11.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 37208

In ZIP Code 37208 (Nashville, TN), and estimated 66.8% of housing units are occupied by renters. This region has an approximate rental vacany rate of 10.2%.

The per capita income in 37208 is estimated at $31,964, which goes along with an estimated median household income of $69,712. About 25.7% of residents in this Davidson County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.09 occupants, while the units have an aggregate average size of 2.12 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 31.02% of their income on housing rental costs.

Rental FAQs for ZIP Code 37208

1

What is the median monthly rent in ZIP Code 37208?

Median rent for housing in ZIP Code 37208 in Davidson County in Tennessee is approximately $941 per month.
2

Is it expensive to rent in ZIP Code 37208?

Rent in ZIP Code 37208 is higher than average in the state of Tennessee overall. The median monthly rent of $941 in ZIP Code 37208 is approximately 8% higher than the Tennessee median of $869. Additionally, median rent in this Nashville, TN region ($941) 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 37208?

High-priced rentals are not common in the Nashville, TN ZIP Code of 37208, 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 37208?

Affordable rentals are less common in ZIP Code 37208 than in Tennessee overall. The percentage of housing rentals in ZIP Code 37208 costing $999 or less per month (53.3%) is approximately 16% 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 17% lower than the previously mentioned 37208 rate of 53.3%.
5

What is the most common cost range that rentals fall into in ZIP Code 37208?

The most common range for rental cost in ZIP Code 37208 is between $500 and $999 per month. About 33.5% of renters in 37208 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 37208 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 37208 is higher than the rental vacancy rate in the state of Tennessee overall. Rental vacancy of 10.2% in ZIP Code 37208 is about 44% higher than the Tennessee rate of 7.1%. Looking more broadly, rental vacancy in this Nashville, TN region (10.2%) is an estimated 70% higher than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 37208? How does it compare to other Tennessee regions?

Median household income in ZIP Code 37208 is lower than in the state of Tennessee overall. Annual household income of $39,964 in ZIP Code 37208 is about 25% lower than the Tennessee median of $53,320. Additionally, median household income in this Nashville, TN region ($39,964) is approximately 36% 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 37208 spend on housing costs?

Renters in ZIP Code 37208 spend a higher amount of their income on rent costs than do renters in Tennessee overall. Renters in ZIP Code 37208 spend an estimated 31.02% of their income on rent payments, which is about 6% 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 4% lower than the ZIP Code 37208 estimated rate of 31.02%.
9

Do renters in ZIP Code 37208 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 37208 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 37208 spending 30 percent or more of their income on rent costs (52.3%) is approximately 11% 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 5% lower than the aforementioned 37208 rate of 52.3%.
10

What is the average household size of renter-occupied units in ZIP Code 37208?

The average household size of renter-occupied units in ZIP Code 37208 is lower than in the state of Tennessee overall. Annual household size of 2.09 in ZIP Code 37208 is about 14% lower than the Tennessee median of 2.42. Additionally, median household size in this Nashville, TN region (2.09) is approximately 16% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Tennessee ZIP Codes