Nashville ranks 13th in metro areas with largest rental rate increase

(Photo: WKRN)

NASHVILLE, Tenn. (WKRN) – Rental rates are increasing across the U.S., and we’re feeling it here in Middle Tennessee.

A new study from watchdog website Rent Range identifies 25 markets with the largest rental rate increases, and the Nashville, Murfreesboro, Franklin metro area is No. 13 on the list.

Research shows rent for a single-family home increased 6.8 percent between 2015 and 2016.

The information is based on data gathered from 250,000 homes per month.

The CEO of Rent Range says 2017 will be a good year for anyone who invests in a single-family home, as a rental property.