Learn everything you wanted to know about what makes Music City so great to live in from the people that call it home. Download our Nashville, Tennessee Report to review all of the details.
Introduction
The capital city of Tennessee, Nashville is the 23rd-most populous city in the United States and the seat of Davidson County. Strategically located in the heart of the Tennessee Valley, the Nashville region is where businesses thrive and creative spirit resonates across industries and communities.
As a national hub for the creative class, Nashville has the largest concentration of the music industry per capita in the United States. With the rapid influx of residents, Nashville as been a Top 10 Metro for Population Growth for the past 6 years. It’s been experiencing a 14% population increase since 2010. Populations projections predicts that more than 2.5 Million will live in the Nashville area by 2040.
A major center for the music industry, especially country music, Nashville is commonly known as “Music City”.
It is a town unlike any other. Authentic food, people, bars. There is always something to do, and always somewhere to go listen to live music.
Avery H.
Nashville Neighborhoods
Downtown Nashville: Corporate headquarters and honky tonks share space in the hub of downtown Nashville where the city’s varied cultural and business influences intersect under the glow of neon lights. Tourists and locals alike flock to famous honky tonks for the outstanding music, cold beer and unpretentious atmospheres. Residential options include historic lofts and modern condos and apartments.
SoBro (located Southwest of Downtown): A hotbed of economic development downtown, the SoBro area has grown rapidly in tandem with
the $583 million Music City Convention Center. Home to tech startups, coffee shops and urban living communities, SoBro is emerging as the entrepreneurial heart of Nashville.
East Nashville (located East of Downtown): Hip, young and diverse, East Nashville boasts a high concentration of locally-owned businesses and
a food scene that has earned coverage from publications like the New York Times and Wall Street Journal. It’s easily walkable and offers a mix of single family houses, condos and apartments.
Green Hills (located Southwest of Downtown): One of Nashville’s most family-friendly neighborhoods, this area sports some of Nashville’s most
popular upscale shopping, dining and nightlife destinations. Many of Nashville’s celebrities call this neighborhood home, so don’t be surprised to
run into the likes of Nicole Kidman or Keith Urban as you walk the aisles of Whole Foods. Retailers include high-end shopping malls with luxury
brands and small boutiques. Dozens of restaurants, including international cuisine, fast-casual and fine dining. Home to the Bluebird Cafe, a world-famous songwriters’ showcase.
Midtown (located Southwest of Downtown): A popular area for young professionals and singles, this neighborhood is known for its vibrant nightlife. Home to a variety of hotels, casual and upscale restaurants, and businesses, Midtown is highly walkable and comes alive at night. Restaurants and bars for any taste and budget. Live music, dancing, and entertainment. Salons, tattoo parlors and coffee shops.
Germantown (located North of Downtown): Deemed Nashville’s first suburb, this neighborhood is full of rich character and history, from the
cobblestone sidewalks and historic homes to restaurants and farmers’ markets. Breathtaking views of the downtown skyline. Eclectic, vibrant urban residences and historic homes. First Horizon Park: Home to Nashville Sounds AAA Baseball.
Doing Business in Nashville
The Nashville region is a transportation hub with excellent air, rail and highway access to any part of the country and fast and easy international connections. Nashville is one of only 6 U.S. cities where three major interstate highways converge.
Key Industries: Healthcare Management, Music & Entertainment, Manufacturing, Tourism & Hospitality, and Technology
Major Employers: Vanderbilt University Medical Center, Nissan North America, HCA Healthcare Inc, Vanderbilt University, Saint Thomas Health, Randstad, Asurion, Community Health Systems Inc, and Amazon.
Major Leading Technology Employers: AllianceBernstein, Amazon, Deloitte, Nissan, Vaco.
The Nashville region is home to 10 Fortune 1000 companies including 5 Fortune 500 headquarters. 75,000 people work in more than 2,500
businesses in the downtown core
I have moved from and back to Nashville several times over the years. But the thing that always brings me back is the landscape and the friendly people.
Malinda P.
Cost of Living in Nashville
No personal income tax on earnings in Tennessee-this saves the average relocating family between 3% and 10% of their income – or a savings of
$3,000 to $10,000 more for every $100,000 you earn.
Per capita income in Nashville is 20.5% higher than the U.S. average.
Nashville’s Chamber of Commerce reports that the cost of living in the
region is 2% lower than the national average.
Nashville Apartment Living
In Nashville, the median rent is $851 for a studio, $947 for a 1-bedroom, $1,164 for a 2-bedroom, and $1,551 for a 3-bedroom.
Throughout the past year, rents have remained steady in the city of Nashville, but other cities across the entire state have seen rents increase. Renters will find more reasonable prices in Nashville than most other large cities. For example, San Francisco has a median 2-bedroom rent of $2,956, which is more than two-and-a-half times the price in Nashville.
13,000 Residents live in downtown Nashville in more than 8,300 units.
What Nashville Renters Wants
Here are the top factors residents report when choosing an apartment:
Convenient In-Unit Amenities: Renters place a high value on apartment features that allow greater convenience in their day-to-day lives.
• 92% of residents expressed interest in a garbage disposal, and 56% said they would not rent without it.
• 91% of residents expressed interest in, in-unit washers and dryers, and 55% said they would not rent without it.
• 90% of residents are interested in a dishwasher, and 63% of renters would not rent without one.
Affordability: As rental rates continue to rise nationwide, rental affordability has become a big concern and the need for affordable rental options has never been greater. Depending on location and the property classes included in your portfolio, a greater emphasis on affordability over amenities may pay off in the coming year.
Convenient Location: People want to live, work, and play in a geographically convenient circle. If your property is located near the Vanderbilt University Medical Center show how it’s a convenient walk to the hospital, to appeal to healthcare professionals. Traffic is a major issue in Nashville, consider showcasing the closeness or walkability to high traffic areas.
Pet-Friendly: The American Veterinary Association estimates that 50% of renters have pets and that 3 out of 10 renters without pets would have pets if their landlords allowed it. Allowing pets in your multifamily property opens up your prospective pool of renters and provides you with a competitive edge.
Connectivity: Wireless connectivity is extremely important to renters. 91% of renters say reliable cell reception is important, and 44% say they won’t rent without reliable cell service. High-speed internet access is likewise a top priority for renters. In 4th place as a most highly ranked apartment feature, 92% of residents expressed interest in high-speed internet, while 48% would not rent without it.
Mobile Access to Resident Portal: Residents expectations for interacting with management at their communities is through mobile/internet connectivity. Overall, 81% of all residents said that it is important or very important for them to be able to access their resident portal from a mobile device. 64% signed their current lease online in some way, and given the choice, 58% of renters would rather pay rent using a resident portal mobile app than a property website via laptop/desktop.
Nashville is growing and it’s an exciting time to be here. The cost of living is increasing, but so is the city’s profile.
William H.
Healthcare in Nashville
Nashville’s Health Care Industry directly employs 126,996 people.
Health Care Management: $67 Billion Annual Economic Impact
Three major Healthcare Employers are Vanderbilt University Medical Center, HCA Healthcare Inc, Saint Thomas Health.
Nashville is home to more than 400 professional service firms that provide
expertise in the health care industry.
95% of Health Care CEOs indicate that a Nashville Headquarters
location is important to their company’s positive performance.
Read the full research report: Nashville, TN research. We interviewed Austin, Texas residents to find out why they live there what makes their city special. Stay tuned for more city research.
