Sullivan, Washington counties lead state for rent increases


By DON FENLEY

Renters in Sullivan and Washington counties are seeing the largest rent increases in Tennessee according to RealtyTrac’s current analysis.

The  fair-market rent for a three-bedroom home is up 7% in Sullivan County this year to $861.

In Washington County where the real estate market is a littler hotter it is up 13% to $997 a month.

A 7% increase was also posted in Shelby County.

The highest fair-market three-bedroom rents in counties included in the report are in Davidson, Rutherford, Williamson, Sumner and Wilson counties – $1,131 a month. However,  the 2015 increase in each of those counties are put at zero.

The fair-market rent in Knox County is $1,034 and that’s expected to be flat this year.

RealtyTrac’s analysis of fair-market rents were obtained from the U.S Department of Housing and Urban Development, which publishes the numbers each year using a methodology designed to identify the 40th percentile rent, the dollar amount below which 40 percent of the standard-quality rental housing units are rented.

 

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