Study Cites Nashville As One Of Nation's Toughest To Find Apartments
by Jason Lamb
NASHVILLE, Tenn. – As Nashville’s popularity grows it appears it may be running out of apartments for people to move into-- making the city one of the hardest places in the country to find an apartment, according to a new study.
The study, completed by AXIOMetrics, Inc., said Nashville is the seventh most difficult city in the nation to find an apartment.
That news comes as no surprise to Barbara Schwartz, who owns Apartment Locator, a company that matches vacant apartments to would-be tenants looking for a place to live.
“A year ago, they had 10 choices. Two years ago they had 20 choices-- they probably have 2 now, and if they find one, they’d better put their deposit down quickly,” Schwartz said.
And even though 4,800 more units are planned for the middle Tennessee area this year, even the newer apartments like Vista Germantown, can't keep up with demand.
“We are seeing anywhere from eight to ten people a day coming in looking for an apartment,” said Kevin Hodges with LMS Real Estate, the company that owns the Vista Germantown apartments.
Schwartz said the apartment market, like anything else, is cyclical and she said she expects the apartment market to ease up somewhat for renters once the additional apartment units are completed this year.