ZIP Code · TN

ZIP 37138

Part of Nashville, TN

Pop. 22,575·Davidson County·12th most expensive ZIP in Tennessee

Median rent (all units)

$2,163/mo

Year-over-Year

+5.5%

Month-over-Month

Stable

vs US Median

+$231

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 37138 · $2,163

More expensive than 69% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,510

1 BR

$1,580

2 BR

$1,730

3 BR

$2,210

4 BR+

$2,700

Research median

$1,730/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: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 37138 is at its highest level since Zillow's records here began in December 2021.

Past year vs. the rest of Tennessee

Rent in ZIP 37138 changed +5.5% over the year to September 2026. Across the 127 Tennessee ZIP codes Zillow tracks, the typical change was +1.8%.

Recent direction

Rent has risen 9 months in a row, and rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($85,149) is $2,129 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,730); a 3-bedroom is $2,210.

Rank in Nashville

18th cheapest of 23 ZIP codes in Nashville.

Cheaper nearby

ZIP 37115, 5 miles away, rents for 29% less ($1,529/mo), about $7,600 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 37138. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$25,956/yr

At $2,163/mo median

Location

CityNashville

StateTN

CountyDavidson County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (5.5% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+5.5% YoY, +0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 37138 (Nashville, TN) is majority owner-occupied, 34.3% of residents hold a bachelor's degree or higher.

Population

22,575

Median income

$85,149

Median age

44.1

Renters

22.8%

Age distribution

21.2%

16.3%

28.6%

15.5%

18.3%

Under 1821.2%

18–3416.3%

35–5428.6%

55–6415.5%

65+18.3%

Gender

51.6%

48.4%

Male51.6%

Female48.4%

Race & ethnicity

80.8%

White80.8%

Black9.9%

Hispanic5.3%

Asian1.3%

Other2.7%

Education (25+)

28.1%

32.5%

34.3%

No HS diploma5%

HS diploma28.1%

Some college32.5%

Bachelor's+34.3%

Housing tenure

77.2%

22.8%

Owner77.2%

Renter22.8%

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

2022 vs 2026

How ZIP 37138 in Nashville, TN has changed in 5 years

Rent

$1,832 → $2,163

up 18.1%

Income

$79,182 → $85,149

up 7.5%

Population

24,267 → 22,575

down 7.0%

Renter share

20.6% → 22.8%

+2.2 pts

Bachelor's+

37.3% → 34.3%

-3.0 pts

Median age

42.7 → 44.1

+1.4 yrs

Five years ago, renters in ZIP 37138 in Nashville, TN paid around $1,832 a month. That figure now sits near $2,163, up 18.1% from the 2022 baseline. Census figures show median household income at $85,149 today, compared with $79,182 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 37138 in Nashville, TN losing about 1,692 residents over the five-year window, down 7.0% on net. The renter share has risen from 20.6% to 22.8%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 37.3% to 34.3% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

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About renting in ZIP 37138

Last updated: October 17, 2026

ZIP code 37138 covers Nashville, TN. The median rent here is $2,163/mo as of October 2026. A 1-bedroom rents for a median of $1,580/mo. A 2-bedroom rents for a median of $1,730/mo.

At 30% of local median household income ($85,149/yr), ZIP 37138 ranks as moderate compared to the national benchmark of 30%. Rents have increased 5.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 37138?

To keep rent at or below 30% of gross income, you would need to earn at least $87,000/year (about $42/hour full-time) to afford the median rent of $2,163/mo in ZIP 37138. The local median household income is $85,149/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 37138?

Rent in ZIP 37138 has risen 5.5% over the past year as of September 2026. That is the highest level since Zillow's records here began in December 2021.

How does ZIP 37138 compare to other ZIPs in Tennessee?

ZIP 37138 is one of the pricier among Tennessee ZIP codes for rent, ranking #12 of 147 at $2,163/mo. Over the year to September 2026, rent in ZIP 37138 changed +5.5%, against a typical +1.8% across the 127 Tennessee ZIP codes Zillow tracks.