Farragut, Tennessee Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Farragut, Tennessee rental market.
Farragut, Tennessee
Average Apartment Rent
$1,462
Y-o-Y Change in Average
Apartment Rent
11.4%
As of July 2024
Compared to a year ago, Farragut, Tennessee apartments have recorded a 11.4% rent increase.
Farragut, Tennessee Average apartment rent trend
Farragut, Tennessee Average Apartment Rent
Farragut, Tennessee Apartment rent ranges
At 72.86%, apartments priced $1,000 - $1,500 represent the bulk of Farragut, Tennessee rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 27.14%.
Farragut, Tennessee Housing tenure**
Renters take up 14% of Farragut, Tennessee real estate, occupying a total of 1,217 units, while homeowners live in 7,611 properties.
Median number of rooms of renter-occupied housing units**
5
Renter median household income**
$83,832
Average household size of renter-occupied housing units**
2.31
Rental vacancy rate**
1.1%
Farragut, Tennessee Renter-occupied housing units by no. of bedrooms**
There are 378 rentals in Farragut, Tennessee with 3 beds making up the highest share of the market, at 31%. Units with 5 or more beds, on the other hand, hold the lowest percentage (6%), amounting to 68 units. Overall, the median number of rooms in Farragut, Tennessee homes for rent is 5.
Farragut, Tennessee Renter-occupied units by age of householder**
Most condos for rent in Farragut, Tennessee are occupied by residents in the 45 - 54 years age group (22%), followed by those in the 75 - 84 years age group (12%). At the same time, people in the 60 - 64 years age group make up the lowest share of the local rental market – 5%.
Farragut, Tennessee Renter-occupied housing units by family type**
Farragut, Tennessee Renter-occupied housing units by the presence of own children**
A total of 528 apartments for rent in Farragut, Tennessee, or 43% of all rentals are family households. Additionally, 21% of rental homes include children under the age of 18 – that’s 257 units. All in all, the median size of a renter-occupied household in Farragut, Tennessee is 2.31.
Farragut, Tennessee Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 43% of the rental market. In contrast, residents with less than a high school degree reside in 1% of the homes for rent in Farragut, Tennessee.
Farragut, Tennessee Renter-occupied units by year structure built**
The highest share of Farragut, Tennessee apartment rentals, namely 39% or 480 units, were Built 1990 - 1999, followed by those Built 1970 - 1979 (19%, 231 units), and the ones Built 2000 - 2009 (11%, 139 units).
Farragut, Tennessee Renter-occupied units by year householder moved in**
Median year renter moved into unit 2019
Most Farragut, Tennessee renters (53%) moved in 2018 to 2020, while only 3% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Farragut, Tennessee condos for rent is 2019.
Farragut, Tennessee Renter-occupied housing units by vehicles available**
When it comes to transportation options, 37% of Farragut, Tennessee renters have 2 vehicles available per household, 31% of them have 1 vehicle available, and 14% have No vehicle available.
Farragut, Tennessee Means of transportation to work of householders living in renter-occupied housing units**
Farragut, Tennessee Geographical mobility in the past year for householders living in renter-occupied housing units**
Farragut, Tennessee Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Farragut, Tennessee apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
