2024 · Tennessee
Rental yield in Tennessee
In 2024, the typical rental in Tennessee produced a gross yield of 4.6% — $1,284/mo median rent against a $333K median home value, ranking 29th of 51 states.
4.6%
Gross rental yield
below the 4.9% U.S. median
$1,284/mo
Median gross rent
incl. utilities (ACS)
$333K
Median home value
owner-occupied (ACS)
Tennessee metros by yield
Metropolitan areas in Tennessee with at least 65,000 residents, ranked by gross rental yield.
| Metro | Gross yield | Median rent | Median value |
|---|---|---|---|
| Jackson, TN | 6.3% | $1,102/mo | $209K |
| Memphis, TN-MS-AR | 5.6% | $1,330/mo | $283K |
| Clarksville, TN-KY | 5.2% | $1,260/mo | $292K |
| Johnson City, TN | 4.9% | $993/mo | $245K |
| Chattanooga, TN-GA | 4.7% | $1,265/mo | $325K |
| Kingsport-Bristol, TN-VA | 4.6% | $917/mo | $237K |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 4.3% | $1,627/mo | $449K |
| Morristown, TN | 4.2% | $876/mo | $250K |
| Knoxville, TN | 4.2% | $1,219/mo | $351K |
| Cleveland, TN | 3.8% | $1,034/mo | $322K |
Frequently asked questions
What is the gross rental yield in Tennessee?
In 2024, Tennessee had a gross rental yield of 4.6% — $1,284/mo median gross rent against a $333K median home value. That ranks 29th of 51 states (1 = highest yield). Nationally the figure was 4.9%.
Which Tennessee metros have the best rental yield?
Among Tennessee metros covered by the data, gross yield was highest in Jackson, TN (6.3%), Memphis, TN-MS-AR (5.6%), and Clarksville, TN-KY (5.2%).
Does this account for expenses or financing?
No. Gross yield is a top-line market screen — it excludes property taxes, insurance, vacancy, management, and financing. Use it to compare markets, then run a specific deal through a cap-rate or cash-flow calculator.
How investors finance deals in Tennessee
Yield shows where the numbers work; our Investor Financing Report for Tennessee shows the rate premium, denial rate, and DSCR lending investors face there.
Run a Tennessee deal
Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Gross rental yield = (median gross rent × 12) ÷ median home value. A market screen, not a net return.