Nashville, TN Multifamily Market Report | MMG Real Estate Advisors | Q1 2026

Market Overview

Nashville's multifamily market reached its tightest supply-demand balance in two years in Q1 2026, with trailing 12-month absorption of 7,812 units coming within 2% of the 7,970 units delivered over the same period, a meaningful shift from the imbalance that characterized 2023 and 2024. Average rent stood at $1,660, down 1.6% year-over-year, though a 1.2% quarter-over-quarter gain marked the strongest improvement in at least five quarters, while occupancy held relatively stable at 91.4%, down 60 basis points annually. Deliveries over the past 12 months fell 30% from a year ago as under-construction inventory contracted 21% to 9,885 units, pointing to a sustained reduction in forward delivery pressure as the market's supply pipeline enters a contraction phase. NOTE: The full report requires submitting contact information through a download form; the description above reflects publicly visible market snapshot data only.

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About MMG Real Estate Advisors

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MMG Real Estate Advisors is a multifamily investment sales and research firm tracking apartment market fundamentals across the Southeast, Midwest, and beyond. Their Q1 2026 Nashville multifamily market snapshot tracks rent, occupancy, absorption, and supply trends to help owners and investors assess market timing. To read the full report, click here.