NASHVILLE, Tenn.--Data from rental and property marketplace Rent.com shows Tennessee is among the top states for the largest year-over-year rent increases in the country.

The company's March 2023 Rent Report found nationally, 83.72% of markets have seen increases in rent growth from February 2022 to February 2023.

Currently, the national median is $1,937 per month, a $33 increase compared to February 2022. While this is the lowest average since then, some states have seen increases. According to the report, Tennessee has seen the highest year-over-year (YoY) increase with 12.09%.

The current median rent per Rent.com is $1,605 in Tennessee and the 12.09% increase ranks the state as having the 9th highest YoY percentage increase. New Hampshire, South Dakota, Arkansas, Florida, Mississippi, North Dakota, Delaware, and Iowa were the only states with larger increases.

As for metros with the highest increases, the Nashville-Davidson-Murfreesboro-Franklin (TN) market ranks 6th among metros for the largest increases in rent prices YoY with a 9.01% increase. The current median rent in the area is $2,117 which is well above the $1,937 national average.

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