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Tennessee
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VACANCY
Apartment
The average Vacancy Rate was 3.9% in the Chattanooga metro
- Vacancy in the Chattanooga metro declined by 60 basis points.
- The Chattanooga metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 3.6% in the Chattanooga metro.
Office
The average Vacancy Rate was 18.3% in the Chattanooga metro
- No vacancy change since year-end 2021 in the Chattanooga metro.
- The Chattanooga metro had the highest vacancy level since Q3 1999.
- Vacancy is expected to finish 2022 at 17.2% in the Chattanooga metro.
Retail
The average Vacancy Rate was 11.5% in the Chattanooga metro
- No vacancy change since year-end 2021 in the Chattanooga metro.
- Vacancy is expected to finish 2022 at 11.5% in the Chattanooga metro.
RENT
Apartment
The average Asking Rent was $1,015 in the Chattanooga metro
- Rent in the Chattanooga metro was up 4.2% from year-end 2021.
- Rent Has risen for ten consecutive quarters in the Chattanooga metro.
- Rent is expected to finish 2022 at $1,043 in the Chattanooga metro.
Office
The average Asking Rent was $16.95 in the Chattanooga metro
- Rent in the Chattanooga metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $16.95 in the Chattanooga metro.
Retail
The average Asking Rent was $12.72 in the Chattanooga metro
- Rent in the Chattanooga metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $12.76 in the Chattanooga metro.
VACANCY
Apartment
The average Vacancy Rate was 3.0% in the Knoxville metro
- The Knoxville metro had the second lowest vacancy in the nation, behind only Central New Jersey.
- Vacancy in the Knoxville metro drifted upward by 10 basis points.
- Vacancy is expected to finish 2022 at 3.3% in the Knoxville metro.
Distribution / Warehousing
The average Vacancy Rate was 4.5% in the Knoxville metro
- Vacancy in the Knoxville metro drifted upward by 30 basis points.
- Vacancy is expected to finish 2022 at 4.6% in the Knoxville metro.
Office
The average Vacancy Rate was 18.0% in the Knoxville metro
- Vacancy in the Knoxville metro fell by 50 basis points.
- Vacancy is expected to finish 2022 at 17.4% in the Knoxville metro.
Retail
The average Vacancy Rate was 12.0% in the Knoxville metro
- Vacancy in the Knoxville metro drifted downward by 10 basis points.
- The Knoxville metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2022 at 12.2% in the Knoxville metro.
RENT
Apartment
The average Asking Rent was $940 in the Knoxville metro
- Rent in the Knoxville metro was up 4.6% from year-end 2021.
- Knoxville metro had its fastest rent rate of increase since Q3 1999.
- Rent Has risen for seven consecutive quarters in the Knoxville metro.
Distribution / Warehousing
The average Asking Rent was $4.45 in the Knoxville metro
- Rent in the Knoxville metro was up 1.4% from year-end 2021.
- Knoxville metro had its fastest rent rate of increase since Q1 2017.
- Rent is expected to finish 2022 at $4.54 in the Knoxville metro.
Office
The average Asking Rent was $17.42 in the Knoxville metro
- Rent in the Knoxville metro was up 0.5% from year-end 2021.
- Rent is expected to finish 2022 at $17.30 in the Knoxville metro.
Retail
The average Asking Rent was $15.28 in the Knoxville metro
- Rent in the Knoxville metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $15.33 in the Knoxville metro.
VACANCY
Apartment
The average Vacancy Rate was 4.5% in the Memphis metro
- No vacancy change since year-end 2021 in the Memphis metro.
- The Memphis metro had the lowest vacancy level since Q2 1998.
- Vacancy is expected to finish 2022 at 4.4% in the Memphis metro.
Distribution / Warehousing
The average Vacancy Rate was 9.6% in the Memphis metro
- Vacancy in the Memphis metro declined by 250 basis points.
- The Memphis metro had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 9.3% in the Memphis metro.
Flex / R&D
The average Vacancy Rate was 10.1% in the Memphis metro
- Vacancy in the Memphis metro drifted upward by 20 basis points.
- Vacancy is expected to finish 2022 at 8.7% in the Memphis metro.
Office
The average Vacancy Rate was 24.3% in the Memphis metro
- Vacancy in the Memphis metro drifted upward by 20 basis points.
- The Memphis metro had the highest vacancy level since year-end 2017.
- Vacancy is expected to finish 2022 at 24.2% in the Memphis metro.
Retail
The average Vacancy Rate was 12.9% in the Memphis metro
- Vacancy in the Memphis metro drifted upward by 40 basis points.
- The Memphis metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2022 at 12.3% in the Memphis metro.
RENT
Apartment
The average Asking Rent was $1,103 in the Memphis metro
- Rent in the Memphis metro was up 1.0% from year-end 2021.
- Rent is expected to finish 2022 at $1,128 in the Memphis metro.
Distribution / Warehousing
The average Asking Rent was $3.18 in the Memphis metro
- Rent in the Memphis metro was up 1.3% from year-end 2021.
- Rent Has risen for ten consecutive quarters in the Memphis metro.
- Rent is expected to finish 2022 at $3.31 in the Memphis metro.
Flex / R&D
The average Asking Rent was $6.35 in the Memphis metro
- Rent in the Memphis metro was up 1.3% from year-end 2021.
- Rent Has risen for eight consecutive quarters in the Memphis metro.
- Rent is expected to finish 2022 at $6.51 in the Memphis metro.
Office
The average Asking Rent was $20.58 in the Memphis metro
- The Memphis metro remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $20.59 in the Memphis metro.
Retail
The average Asking Rent was $14.39 in the Memphis metro
- Rent in the Memphis metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $14.38 in the Memphis metro.
VACANCY
Apartment
The average Vacancy Rate was 5.1% in the Nashville metro
- Vacancy in the Nashville metro drifted downward by 20 basis points.
- The Nashville metro had the lowest vacancy level since Q3 2016.
- Vacancy is expected to finish 2022 at 5.4% in the Nashville metro.
Distribution / Warehousing
The average Vacancy Rate was 5.3% in the Nashville metro
- Vacancy in the Nashville metro declined by 120 basis points.
- The Nashville metro had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 5.1% in the Nashville metro.
Flex / R&D
The average Vacancy Rate was 13.2% in the Nashville metro
- Vacancy in the Nashville metro fell by 210 basis points.
- The Nashville metro was among the 10 highest vacancies nationally.
- Vacancy is expected to finish 2022 at 12.1% in the Nashville metro.
Office
The average Vacancy Rate was 18.9% in the Nashville metro
- Vacancy in the Nashville metro increased by 100 basis points.
- Vacancy is expected to finish 2022 at 18.6% in the Nashville metro.
Retail
The average Vacancy Rate was 9.3% in the Nashville metro
- No vacancy change since year-end 2021 in the Nashville metro.
- Vacancy is expected to finish 2022 at 9.2% in the Nashville metro.
RENT
Apartment
The average Asking Rent was $1,423 in the Nashville metro
- Rent in the Nashville metro was up 1.2% from year-end 2021.
- Rent is expected to finish 2022 at $1,480 in the Nashville metro.
Distribution / Warehousing
The average Asking Rent was $4.63 in the Nashville metro
- Rent in the Nashville metro was up 1.5% from year-end 2021.
- Rent is expected to finish 2022 at $4.79 in the Nashville metro.
Flex / R&D
The average Asking Rent was $8.89 in the Nashville metro
- Rent in the Nashville metro was up 1.5% from Q3 2021.
- Nashville metro had its fastest rent rate of increase in ten quarters.
- Rent is expected to finish 2022 at $9.25 in the Nashville metro.
Office
The average Asking Rent was $26.73 in the Nashville metro
- Rent in the Nashville metro was up 1.1% from year-end 2021.
- Nashville metro had its fastest rent rate of increase in five quarters.
- Rent is expected to finish 2022 at $26.77 in the Nashville metro.
Retail
The average Asking Rent was $17.48 in the Nashville metro
- Rent in the Nashville metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $17.61 in the Nashville metro.