Lee & Assosciates 2025 Q3 Tennessee TN Multifamily

Market Overview

‍Nashville’s multifamily market is settling into a healthier rhythm in Q3 2025 as demand keeps pace with elevated supply. Average asking rent reached about $1,653 per unit with occupancy at roughly 92.2 percent. Year to date, the market absorbed 7,778 units against 7,659 deliveries, showing that new product is being met with steady renter interest. The construction pipeline has eased to around 11,000 units, a notable shift from the peak levels of recent years, which should support more stable rent performance heading into 2026.

‍About Lee & Associates

‍Lee & Associates is a national commercial real estate firm offering brokerage, research and advisory services across major U.S. markets. Their Nashville Q3 2025 multifamily report provides detailed insight into rent trends, absorption patterns, new supply and development pacing to help investors and operators plan strategically. To read the full report, click here.