Rents are right about where Germantown's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,319 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Germantown is at its highest level since Zillow's records here began in January 2023.
Rent in Germantown changed +7.0% over the year to September 2026. Across the 51 Tennessee cities Zillow tracks, the typical change was +2.0%.
Rent has risen 5 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($149,920) is $3,748 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,970).
Cordova, 7 miles away, rents for 27% less ($1,692/mo), about $7,500 a year in savings.
From Zillow's monthly rent index (ZORI) for Germantown. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Germantown, TN has changed in 5 years
Compared with 2023, rent in Germantown, TN has climbed by $376 per month, settling near $2,319 after starting the period at $1,943. Local incomes tracked alongside that move, going from a median of $132,949 in 2021 to $149,920 more recently. Rent outpaced income growth by roughly 6.6 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. 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.
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Can you afford rent in Germantown on your salary?
At $2,319/mo, how Germantown rent compares to typical pay (30% rule).
Germantown rent by bedroom count
Median rent for each apartment size in Germantown. Click any size for full breakdown.
Tips for renters in Germantown
Last updated: October 17, 2026
The median rent in Germantown is $2,319/mo as of October 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 19% of local median household income ($149,920/yr), Germantown ranks as affordable compared to the national benchmark of 30%. Rents have increased 7.0% over the past year.
Frequently asked questions
How much income do you need to rent in Germantown?
Is rent going up or down in Germantown?
How does Germantown rent compare to other cities in Tennessee?
Which nearby cities are cheaper to rent in than Germantown?
At $2,319/mo, rent takes ~19% of Germantown's median household income ($149,920/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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