Best Affordable Neighborhoods in Nashville, TN
Some of the cheapest neighborhoods in Nashville are Mcmurray Hills, Madison Park, and Elysian Park. These neighborhoods offer some of the lowest rent prices in Nashville, making them ideal for renters on a budget. As of March 28, 2026, the average rent in Nashville is $1,653, which is 3.3% lower than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Mcmurray Hills
Average Rent
$916/Month
Units Available
15 Rentals
Mcmurray Hills is a top choice for budget-conscious renters for a variety of reasons. The average rent in Mcmurray Hills is $916 while the city average is $1,653. Residents enjoy convenient access to Tennessee Agricultural Museum, Vanderbilt Dyer Observatory, and Nashville International.
Madison Park
Average Rent
$921/Month
Units Available
26 Rentals
When you’re looking for a great Nashville neighborhood on a budget, check out Madison Park. The average rent is $921, compared to the city average of $1,653. Madison Park is convenient to Tennessee State University, The Hermitage, and Shelby Bottoms Nature Center.
Elysian Park
Average Rent
$941/Month
Units Available
10 Rentals
Elysian Park is an affordable neighborhood in Nashville with an average rent price of $941. Compare this to the city average of $1,653. Elysian Park provides easy access to Belmont University, Vanderbilt Dyer Observatory, and Trevecca Nazarene University.
Cloverhill
Average Rent
$946/Month
Units Available
10 Rentals
If you’re looking for a great, affordable neighborhood in Nashville, Cloverhill might be the perfect place! It has an average rent price of $946, while the city’s average stands at $1,653. Cloverhill is near The Hermitage, Belmont University, and Shelby Bottoms Nature Center.
Crestview Estates
Average Rent
$970/Month
Units Available
10 Rentals
Crestview Estates is a top choice for budget-conscious renters for a variety of reasons. The average rent in Crestview Estates is $970 while the city average is $1,653. Residents enjoy convenient access to Primrose Center, Tennessee State University, and Fisk University.
Piccadilly Square
Average Rent
$1,052/Month
Year-Over-Year Rent Change
6.6%
Units Available
31 Rentals
When you’re looking for a great Nashville neighborhood on a budget, check out Piccadilly Square. The average rent is $1,052, compared to the city average of $1,653. Rent prices have decreased by 6.6%. Piccadilly Square is convenient to Crossgate Village, Nashboro Village, and Nashville Zoo.
The Cedars
Average Rent
$1,075/Month
Units Available
22 Rentals
The Cedars is an affordable neighborhood in Nashville with an average rent price of $1,075. Compare this to the city average of $1,653. The Cedars provides easy access to Trevecca Nazarene University, Nashville International, and Donelson Pike Plaza.
McMurray
Average Rent
$1,089/Month
Year-Over-Year Rent Change
12.7%
Units Available
126 Rentals
If you’re looking for a great, affordable neighborhood in Nashville, McMurray might be the perfect place! It has an average rent price of $1,089, while the city’s average stands at $1,653. In the last year, prices have decreased by 12.7%. McMurray is near Radnor Lake State Park, Vanderbilt Dyer Observatory, and Hill Center - Nolensville & Ocala.
Oakhill Townhomes
Average Rent
$1,092/Month
Units Available
15 Rentals
Oakhill Townhomes is a top choice for budget-conscious renters for a variety of reasons. The average rent in Oakhill Townhomes is $1,092 while the city average is $1,653. Residents enjoy convenient access to Lipscomb University, Nashville Zoo, and Radnor Lake State Park.
Glengarry
Average Rent
$1,100/Month
Year-Over-Year Rent Change
5.1%
Units Available
48 Rentals
When you’re looking for a great Nashville neighborhood on a budget, check out Glengarry. The average rent is $1,100, compared to the city average of $1,653. Rent prices have decreased by 5.1%. Glengarry is convenient to Mill Creek Center, Gower Center, and Vanderbilt University.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.