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City Report · TN

Germantown

Pop. 40,673·1st most expensive in Tennessee·Germantown rents are up 12.9% over the past year
Median rent (all units)
$2,533/mo
Year-over-Year
+12.9%
Month-over-Month
-3.1%
vs US Median
+$568
Falling (Monthly)
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Most AffordableMost Expensive
Germantown · $2,533
More expensive than 81% of US cities · National median $1,965/mo
Affordability
20% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $2,533/mo, rent takes about 20% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$101,000/yr
Local median income
$149,920/yr
Based on the 30%-of-income rule using Germantown's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,570
1 BR
$1,720
2 BR
$1,930
3 BR
$2,540
4 BR+
$2,970
Research median
$1,930/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$30,396/yr
At $2,533/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 12.9% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+12.9% YoY, -3.1% MoM), not inventory.
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Demographics

Who lives here

Germantown, TN is majority owner-occupied, has a large retiree population, has a median income above the national average, 71.9% of residents hold a bachelor's degree or higher.

Population
40,673
Median income
$149,920
Median age
44.3
Renters
13.3%
Age distribution
26.8%
27.3%
24.2%
Under 1826.8%
18–3410.5%
35–5427.3%
55–6411.1%
65+24.2%
Gender
48.5%
51.5%
Male48.5%
Female51.5%
Race & ethnicity
84%
White84%
Black4.4%
Hispanic3%
Asian6.3%
Other2.3%
Education (25+)
18.3%
71.9%
No HS diploma1.7%
HS diploma8.1%
Some college18.3%
Bachelor's+71.9%
Housing tenure
86.7%
13.3%
Owner86.7%
Renter13.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How Germantown, TN has changed in 5 years

Rent
$2,194 → $2,533
up 15.5%
Income
$132,949 → $149,920
up 12.8%
Population
40,955 → 40,673
down 0.7%
Renter share
12.5% → 13.3%
+0.8 pts
Bachelor's+
68.5% → 71.9%
+3.4 pts
Median age
43.7 → 44.3
+0.6 yrs

Compared with 2023, rent in Germantown, TN has climbed by $339 per month, settling near $2,533 after starting the period at $2,194. Local incomes tracked alongside that move, going from a median of $132,949 in 2021 to $149,920 more recently. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 68.5% to 71.9%. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Germantown, TN market of 2023.

Community

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View Germantown rent history (2015–2026) →
Salary vs rent

Can you afford rent in Germantown on your salary?

At $2,533/mo, how Germantown rent compares to typical pay (30% rule).

By apartment size

Germantown rent by bedroom count

Median rent for each apartment size in Germantown. Click any size for full breakdown.

Local insights

Tips for renters in Germantown

About renting in Germantown, TN

Last updated: July 20, 2026

The median rent in Germantown is $2,533/mo as of July 2026. A studio apartment averages $1,570/mo while a 2-bedroom runs $1,930/mo. One-bedroom apartments average $1,720/mo and 3-bedroom units go for $2,540/mo.

At 20% of local median household income ($149,920/yr), Germantown ranks as affordable compared to the national benchmark of 30%. Rents have increased 12.9% over the past year.

FAQ

Frequently asked questions

Is Germantown an affordable city for renters?

Germantown is considered very affordable for renters. At $2,533/mo, rent takes approximately 20% of the local median household income ($149,920/yr). The standard benchmark is 30%. Germantown falls comfortably within that range.

How much income do you need to rent in Germantown?

To keep rent at or below 30% of gross income, you would need to earn at least $101,000/year (~$49/hour full-time) to afford the median rent of $2,533/mo in Germantown. The local median household income is $149,920/yr, meaning the typical Germantown household meets that threshold.

Is rent going up or down in Germantown?

Rent in Germantown has increased 12.9% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Germantown rent compare to other cities in Tennessee?

Germantown is one of the pricier cities in Tennessee for rent, ranking #1 out of 65 tracked cities at $2,533/mo.

Which nearby cities are cheaper to rent in than Germantown?

Several nearby cities have lower median rents than Germantown ($2,533/mo): Memphis ($1,280/mo), Cordova ($1,811/mo), Olive Branch ($1,896/mo).

What percentage of Germantown residents rent vs. own?

According to Census data, approximately 13.3% of Germantown households are renters, while 86.7% are owner-occupied. Germantown leans toward homeownership, which can mean a smaller rental inventory.

How does Germantown rent compare to the national average?

Germantown's median rent of $2,533/mo is $568 (29%) above the US national median of $1,965/mo. Within Tennessee, it ranks #1 out of 65 tracked cities.
Income Affordability
20%
VERY AFFORDABLE

At $2,533/mo, rent takes ~20% of Germantown's median household income ($149,920/yr). The standard benchmark is 30%.

Germantown 20%Benchmark 30%
State income taxNone
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Germantown, TN

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