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An appreciation-lean market without the demand pressure to back it. The rent math runs thin.
What would change this read: a price correction (median already −8.0% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, +33.9% YoY, is the number to watch.
The median listing price is down 8.0% YoY while the median home got down 8.6% bigger, so value per square foot is down 1.8%.
Min/max come from the active-listing pool; the median comes from Realtor's separate listing set — the two are not subsets of each other, so the median's position relative to the tiles above should not be read literally.
At the median, a $697K purchase rents for $2,295/mo: 0.33% of price per month against the 1% rule's 1.00%.
Sales here take about 12 days longer to go under contract than rentals (median across 5 property types).
Not shown: Land (sold here, not rented).
U.S. Census ACS characteristics for ZIP 37203 itself, not its parent county.
Renters hold 80.7% of this ZIP's 14,683 occupied households, on a median household income of $71K.
| Measure | ZIP 37203 | Davidson County | Difference |
|---|---|---|---|
| Median Household Income | $71K | $78K | -$7K |
| Below Poverty Level | 21.7% | 13.9% | +7.8% |
| Median Age | 30.40 | 34.60 | -4.20 |
| Total Population | 21,442 | 715,388 | -- |
| Avg Household Size | 1.43 | 2.14 | -0.71 |
| Owner-Occupied | 19.3% | 52.8% | -33.5% |
| Worked From Home | 25.7% | 20.3% | +5.4% |
| Mean Commute | 17.40 | 24.70 | -7.30 |
Higher or lower is not itself good or bad — it describes the neighborhood, not the investment.
ZIP-level figures come from ZIP Code Tabulation Areas, which approximate but do not exactly match USPS ZIP codes. A missing value is suppressed or unavailable at this sample size, not zero. Estimates for 2019–2020 use the 2010 ZCTA boundaries and 2021–2024 the 2020 ones, so a step between those two years may be a boundary change rather than real movement.
County population is up 0.8% to 715,388: residents under 18 are up 0.2% and those 65 and over are up 2.5%.
County median household income is $78K, 13.9% of residents are below the poverty level, 20.3% work from home.