NASHVILLE, Tenn. (WTVF) — It's a staggering statistic in this city on the rise as more people move into apartments.
We're getting a look at a new study from SmartAsset that shows what kind of income people need in order to pay rent for an average apartment in Nashville.
As it turns out, it's the 14th highest salary in the country.
The report says it takes an average of about $71,000 a year in Nashville with a one-bedroom apartment to avoid becoming what the U.S. Department of Housing and Urban Development calls "cost-burdened" — paying more than about a third of your income on rent.
That's no surprise to folks helping newcomers to Nashville get into apartments.
"I just have to tell them the facts, there's nothing I can do," said Barbara Schwartz with Apartment Selector. "I can't change it, it's the rent."
Experts expect apartment rents to level off in the next year as new apartments currently under construction open up.
