Sell Your Commercial Property In Rutherford County, TN

Who Rents in Rutherford County

Rutherford County's rental market is anchored by a workforce of roughly 194,366 employed residents and a renter base that reached 45,536 households, or 35.2% of the county's 129,431 occupied homes, per the Census Bureau's 2020-2024 American Community Survey. That renter share has grown from 38,816 households in the 2015-2019 period, a 17.3% increase that outpaced the county's 14.2% population growth to 360,646 residents.

Nineteen percent of Rutherford County's housing stock, or 26,376 units, sits in buildings with five or more units, up 26.9% from the prior five-year period, reflecting continued apartment construction around Murfreesboro, Smyrna and La Vergne. A median household income of $85,470, up 26.8% from $67,429, has supported rent growth without pushing renter households out of the market entirely, though burden remains elevated.

Rents, Growth and Affordability in Rutherford County

Median gross rent in Rutherford County reached $1,502 in the 2020-2024 American Community Survey, a 41.3% jump from $1,063 in 2015-2019 that outran both income growth and inflation over the same stretch. Rental vacancy stood at 6.5%, per the Census Bureau's 2020-2024 housing profile (DP04), suggesting landlords are not struggling to fill units despite the run-up in asking rents.

HUD's FY2027 Fair Market Rents for the Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area, effective October 1, 2026, set the two-bedroom rate at $1,798 and the three-bedroom rate at $2,309. More than half of Rutherford County renters, 52.0%, spend 30% or more of income on gross rent, a burden level that typically signals limited room for further rent increases without tenant turnover. Employment in Rutherford County grew 15.7% over the comparison period to 194,366 workers, a base that continues to support renter demand near the I-24 corridor, which links Rutherford County to Nashville's broader job base.

City-by-City Comparison in Rutherford County

Rents and renter concentration vary sharply among Rutherford County's three largest cities, per the Census Bureau's 2020-2024 American Community Survey.

Property Taxes and Assessment in Rutherford County

Tennessee assesses apartment buildings and other properties with two or more rental units as commercial and industrial property at 40% of appraised value, compared with 25% for single-family residential parcels, under Tenn. Code Ann. Section 67-5-801 and the state's constitutional classification scheme. That ratio applies statewide, so a seller of a 5+ unit building in Rutherford County should expect the 40% basis rather than the lower residential rate.

Rutherford County's assessor's office sets appraised values on its own reappraisal cycle and applies county and municipal tax rates set each year by the county commission and city councils in Murfreesboro, Smyrna and La Vergne. After a reappraisal, Tennessee law requires a revenue-neutral certified tax rate, so any increase above that rate requires a separate vote by the local legislative body. Owners should confirm current rates and the next scheduled reappraisal directly with the Rutherford County Property Assessor before pricing a sale.

What This Means if You Sell in Rutherford County

For an owner ready to sell commercial property in Rutherford County, TN, the data points to a market where rent growth has outpaced income growth and vacancy remains low enough to support near-term pricing. Buyers evaluating a Rutherford County apartment building will weigh the county's 41.3% rent growth against its 6.5% rental vacancy and the 40% commercial assessment ratio when underwriting an offer.

Because Rutherford County falls under the state's Uniform Residential Landlord and Tenant Act, sellers should have lease files, deposit records and notice documentation in order before marketing a multifamily asset. Selling an apartment building in Rutherford County also means accounting for the state's $0.37 per $100 realty transfer tax, paid by the buyer, when structuring net proceeds. A multifamily buyer in Rutherford County will typically close faster when rent rolls, T-12 financials and unit-mix data are ready at the outset.