NASHVILLE, Tenn. (WTVF) — While high rent prices are a constant concern in Music City, new data shows they're starting to stabilize nationwide. But in many cases rent prices are outpacing wages.
The average rent in Nashville is listed at $2,249 a month right now according to Zillow, which is a $50 increase from just last month. The number only takes into account the median price of what people are paying to rent a house through Zillow in Nashville.
Rent.com shows a one-bedroom average is just above $2,000 and $2,600 for a 2-bedroom.
These high costs continue to take a hit on people making minimum wage. Rents grew by about 18 percent nationally within the last 20 years, while wages only increased by three percent.
A new report shows nationwide full-time workers would need to make more than $23 an hour to afford a one-bedroom home and $28 for a two-bedroom.
But Nashville renters know those wages would have to be much more to be able to afford growing prices.
"And so even though rents have stabilized now, it doesn't mean they're coming down, it doesn't mean the rents are coming down and a lot of low-wage workers are really still struggling with that high rent you know," said Andrew Aurand with the National Low-Income Housing Coalition.
"We saw at the same time, wages increased significantly, particularly for low-wage workers, but those wage increases did not keep up with or match the increases where we were seeing in rents."
Because of this people are working overtime, sometimes getting multiple part-time jobs to keep up.
