The Nashville housing market has stalled rather than fallen. As of June 30, 2026, the Zillow Home Value Index for the Nashville, TN metro was $452,433, down 0.9% from $456,581 a year earlier and 0.2% below May [1]. Typical rents edged up 0.4% to $1,804, active inventory of 11,361 homes was 11.7% higher than in June 2025, and 32% of listings carried a price cut [1]. With the 30-year fixed mortgage rate at 6.69% in the week ending August 6, 2026, the principal-and-interest payment on the typical Nashville home is about 4% lower than a year ago, so buyers have slightly more room even though prices have barely moved [2].
Nashville housing market: are home values still falling?
Barely. The metro-wide typical home value (all homes, smoothed and seasonally adjusted) was $452,433 in June 2026, compared with $456,581 in June 2025 and $453,241 in May 2026 [1]. The 12-month change has narrowed to less than one percent.
The segments are close together. Single-family values fell 0.9% to $459,900, the bottom third of the market fell 0.6% to $313,459, and the top third fell only 0.3% to $800,255 [1]. Condos were the weak spot, down 3.0% to $348,926 from $359,586, which is consistent with the wave of new downtown and midtown units delivered over the past three years [1]. The median sale price went the other way, rising to $485,000 in June 2026 from $455,000 in June 2025, a sign that the mix of homes changing hands has shifted toward larger and newer properties [1].
What a buyer pays each month
Zillow's estimated principal-and-interest payment on the typical Nashville home with 20% down was $2,285 in June 2026, down 4.2% from $2,386 in June 2025 [1]. Including taxes and insurance, the total monthly payment with 20% down was $2,859, versus $2,953 a year earlier [1]. Tennessee has no state income tax and a low property tax burden, which keeps that gap narrow. The national 30-year fixed rate averaged 6.69% in the week ending August 6, 2026, compared with 6.63% in the same week of 2025 [2].
Nashville rents and rent yield in 2026
Rents are holding. The Zillow Observed Rent Index for all homes and apartments in the Nashville metro was $1,804 in June 2026, 0.4% above the $1,797 of June 2025 [1]. Single-family rents rose 2.1% to $2,374, while apartment rents slipped 0.7% to $1,651 as new multifamily supply continued to lease up [1].
The gross rent yield on a typical single-family home is about 6.2%: twelve months of rent at $2,374 equals $28,491 against a typical single-family value of $459,900 [1]. That is lower than the Sun Belt metros with cheaper housing, but Nashville's carrying costs are also lower. DataPorium's property tax data shows a median effective rate of 0.95% across Davidson County ZIP codes, including 37215 (Green Hills), 37205 (Belle Meade) and 37013 (Antioch), and just 0.54% in Williamson County ZIPs such as 37027 (Brentwood) and 37064 (Franklin) [4]. At those rates, property tax consumes far less of gross rent than it does in Dallas or Tampa, which narrows the gap between gross and net yield.
Inventory, days on market and price cuts
Supply is the story of 2026. Active for-sale inventory reached 11,361 homes in June 2026, up 11.7% from 10,169 in June 2025 and up from 8,477 in February, which was the low point of the winter [1]. More supply is why prices are flat despite steady demand. Homes still move quickly: the median listing took 24 days to go pending in June 2026, one day longer than a year earlier and far faster than the 53 days recorded in January and February [1]. Sellers are adjusting, with 32% of listings showing a price cut in June, against 34% in June 2025 [1]. Zillow's market heat index read 47 in June 2026, one point below the 48 of a year earlier, which describes a balanced market [1].
- Active listings: 11,361 in June 2026, versus 10,169 in June 2025 [1]
- Median days to pending: 24, versus 23 a year earlier [1]
- Share of listings with a price cut: 32%, versus 34% a year earlier [1]
- Median sale price: $485,000, versus $455,000 a year earlier [1]
Which Nashville ZIP codes are the most and least expensive?
The Nashville metro stretches across Davidson, Williamson, Rutherford, Wilson and Sumner counties, and the price spread between the Williamson County suburbs and the north and southeast sides of Davidson County is wide. The table shows Zillow's smoothed typical home value by ZIP code for June 2026 with the median effective property tax rate for each area from DataPorium [1][4].
| ZIP code | Area | Typical home value, June 2026 | Median effective property tax |
|---|---|---|---|
| 37027 | Brentwood | $1,223,478 | 0.54% |
| 37215 | Green Hills, Forest Hills | $1,196,409 | 0.95% |
| 37205 | Belle Meade, West Meade | $1,075,907 | 0.95% |
| 37064 | Franklin | $904,226 | 0.54% |
| 37221 | Bellevue | $500,803 | 0.95% |
| 37207 | North Nashville | $371,697 | 0.95% |
| 37013 | Antioch | $355,850 | 0.95% |
| 37115 | Madison | $324,880 | 0.95% |
The most expensive ZIP in the sample, 37027 in Brentwood, is worth almost four times the least expensive, 37115 in Madison, and it also carries the lowest tax rate, which is a large part of why Williamson County keeps attracting relocating executives [1][4]. Antioch and Madison are where the metro's entry-level buyers and single-family investors concentrate, with typical values below $360,000 and rents that support workable yields [1]. Investors can compare these and every other ZIP on DataPorium's housing market data, which carries Zillow values, rents and inventory at the state, metro, city and ZIP levels [1].
Population, income and what it means for buyers and investors
Demand keeps growing. The Census Bureau estimates the Nashville-Davidson-Murfreesboro-Franklin metro population at 2,197,416 as of July 2025, up 34,658 from 2,162,758 in 2024 and 8.0% above the 2,034,309 of 2021 [3]. Inside Davidson County, the 2024 American Community Survey shows a median household income of $77,853, up from $62,515 in 2020, with a population of 715,388 and a homeownership rate of 52.8% [4]. Incomes in the core county rose about 25% over four years while metro home values have been flat since 2022, which is how affordability improves without any policy intervention.
Nashville is a market where rising inventory has stopped price growth without reversing it, and where low property taxes keep the math workable for long-term owners.
For buyers, the practical reading is that 11,000 active listings and 32% of sellers cutting prices give more choice than at any point since 2019, while a 24-day median time to pending means the best homes still go fast [1]. The counterpoint is that Nashville prices are high relative to local incomes, so a buyer who stretches to the maximum loan has little margin if values dip further. For investors, a 6.2% gross single-family yield combined with a 0.95% or lower property tax rate produces a net yield close to what higher-tax metros offer from a 7.5% gross yield, and rents are still rising for houses [1][4]. Zillow's rolling 12-month home value forecast for the metro is updated each month and shown beside the current values on the DataPorium market page [1]. Property-level detail is available through DataPorium's real estate module [4].
Key takeaways
- Nashville's typical home value was $452,433 in June 2026, down 0.9% year over year and 0.2% from May [1].
- Condo values fell 3.0% to $348,926, while single-family values fell 0.9% to $459,900 [1].
- Typical rent rose 0.4% to $1,804, and the gross single-family rent yield is about 6.2% with property taxes near 0.95% or lower [1][4].
- Inventory of 11,361 homes is 11.7% above a year ago; 32% of listings had a price cut and the median time to pending was 24 days [1].
- Metro population reached 2,197,416 in 2025, and the 30-year mortgage rate was 6.69% in early August 2026 [2][3].
Frequently asked questions
Are home prices dropping in Nashville in 2026?
Only slightly. The Zillow Home Value Index for the Nashville metro was $452,433 in June 2026, 0.9% below June 2025, with condos down 3.0% and single-family homes down 0.9% [1].
What is the average rent in Nashville in 2026?
The typical asking rent across all homes and apartments in the Nashville metro was $1,804 per month in June 2026, up 0.4% from a year earlier; the typical single-family rental was $2,374 [1].
Is Nashville a buyer's market right now?
It is balanced: about 11,400 active listings, a 24-day median time to pending, 32% of listings with a price cut and a market heat index of 47 in June 2026 [1].
What is the most expensive ZIP code in Nashville?
Among the ZIPs reviewed, 37027 in Brentwood had the highest typical home value at about $1.22 million in June 2026, followed by 37215 (Green Hills) at about $1.20 million [1].
Sources & References
- [1] DataPorium Housing Market Insights (Zillow ZHVI, ZORI, inventory and market data)
- [2] Freddie Mac via FRED: 30-Year Fixed Rate Mortgage Average in the United States (MORTGAGE30US)
- [3] U.S. Census Bureau via FRED: Resident Population in Nashville-Davidson--Murfreesboro--Franklin, TN (MSA) (NVLPOP)
- [4] DataPorium Real Estate: property tax, demographics and neighborhood data
