ZIP 37203
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12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in ZIP 37203 usually run 2% below trend in January and 2.7% above it in July, about $100 a month apart at today's median. Based on 8 years of data.
Rent in ZIP 37203 is 5.4% below its high of $2,258 in January 2023, at $2,135 as of September 2026.
Rent in ZIP 37203 changed -0.7% over the year to September 2026. Across the 127 Tennessee ZIP codes Zillow tracks, the typical change was +1.8%.
From 2019 to 2024, rent in ZIP 37203 rose 14.4% while median household income rose 24.3% ($57,330 to $71,281). Income kept ahead of rent.
Rent in ZIP 37203 is 11.9% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 4 months in a row, and rose in 6 of the last 12 months.
30% of the median household income ($71,281) is $1,782 a month. That covers HUD's Fair Market Rent for up to a studio ($1,730); a 1-bedroom is $1,820.
16th cheapest of 23 ZIP codes in Nashville.
ZIP 37204, 3 miles away, rents for 16% less ($1,801/mo), about $4,000 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 37203. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 37203 (Nashville, TN) is majority renter-occupied, skews toward younger working-age adults, 70% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 37203 in Nashville, TN has changed in 5 years
Rent in ZIP 37203 in Nashville, TN has climbed 12.9% since 2021, going from about $1,891 per month to roughly $2,135 today. Median household income grew from $59,406 to $71,281 between 2021 and 2024, a 20.0% shift. Income growth outran rent by about 7.1 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 18,100 to 21,442 between 2021 and 2024, a 18.5% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 60.2% to 70%. Taken together, the five-year picture in ZIP 37203 in Nashville, TN reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Tips for renters in ZIP 37203
Last updated: October 17, 2026
ZIP code 37203 covers Nashville, TN. The median rent here is $2,135/mo as of October 2026. A 1-bedroom rents for a median of $1,820/mo. A 2-bedroom rents for a median of $1,990/mo.
At 36% of local median household income ($71,281/yr), ZIP 37203 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 0.7% over the past year.
Frequently asked questions
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How does ZIP 37203 compare to the rest of Nashville?
At $2,135/mo, rent takes ~36% of ZIP 37203's median household income ($71,281/yr). The standard benchmark is 30%.
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