When Sarah and Mark began house hunting in Brentwood, TN, they quickly realized their budget wasn’t going as far as they’d hoped. With the median home price hovering around $1.2 million, even a starter home seemed out of reach. They wondered: would renting an apartment be more affordable than buying a house in Brentwood? To find out, they sat down to compare the true cost of living in an apartment vs house in this desirable Nashville suburb.
Like many first-time buyers, Sarah and Mark discovered that housing costs involve far more than just rent or a mortgage payment. From utilities to insurance to property taxes, the expenses add up fast. To make a smart decision, they needed a clear picture of the total monthly cost of putting a roof over their heads – whether renting or owning.
The Housing Market in Brentwood Today
Brentwood, located just south of Nashville, is known for its high-end homes, top-rated schools, and upscale amenities. In recent years, the local housing market has been on fire, with inventory tightening and prices soaring. The median home price in Brentwood is now $1,220,000 – a staggering 37% increase from just a year ago.
On the rental side, new apartment developments are popping up to meet the growing demand. Many complexes offer resort-style pools, fitness centers, and green spaces to attract young professionals and families priced out of the home market. Still, even renting in Brentwood doesn’t come cheap. The average rent for a 2-bedroom apartment is currently $2,395 per month.
For those considering a move to Brentwood, it’s essential to understand the full scope of housing costs. Let’s break down what you can expect to pay, whether you rent or buy.
Renting in Brentwood: What’s Typical?
Apartments in Brentwood range from basic 1-bedroom units to sprawling 3-bedroom townhomes. The most popular rental areas include the lively Streets of Brentwood district and the more residential Mallory Park neighborhood. Here’s a snapshot of average rent prices:
- 1-bedroom apartment: $1,750/month
- 2-bedroom apartment: $2,395/month
- 3-bedroom apartment: $3,200/month
Over the past year, rent in Brentwood has risen by about 15% across the board. However, areas like Mallory Park still offer relatively affordable options for young professionals and small families. Keep in mind that many newer apartment complexes include amenities like trash service and internet in the monthly rent.
In addition to rent, Brentwood renters should budget for utilities like electricity, water, and gas. These costs can add an extra $150 to $300 per month, depending on the size of your apartment and your usage habits. Renters insurance is another small but important expense, typically costing around $15 per month for a basic policy.
Owning a Home in Brentwood
For those with the means to buy, Brentwood offers a range of high-end homes, from cozy bungalows to expansive estates. With a median home price of $1.2 million, a typical buyer can expect a monthly mortgage of around $5,570 (assuming a 30-year fixed loan with 20% down).
Of course, the mortgage is just one piece of the homeownership puzzle. Property taxes in Brentwood are among the highest in Tennessee, averaging $5,954 per year for a median-priced home. Homeowners insurance adds another $2,000 annually, while HOA dues in some neighborhoods can reach $500 per month.
Utility costs are also higher for homeowners, since they’re responsible for more space and often additional services like lawn care and pest control. In a typical Brentwood home, monthly utility bills can easily top $500. Maintenance and repair costs are another variable to consider, typically accounting for 1-2% of the home’s value each year.
Renters vs. Homeowners: Who Lives Where?
Despite the high cost of homeownership, Brentwood boasts an impressive homeownership rate of 84% – far above the national average of 64%. This reflects the city’s affluent population and family-oriented lifestyle. Many residents are willing to stretch their budgets for the perks of owning a spacious home in a top-rated school district.
Still, renting remains a popular choice for certain groups, including young singles, new transplants, and downsizing retirees. Apartment living offers flexibility, predictable costs, and freedom from maintenance hassles. In Brentwood, about 30% of households are renters, concentrated in a few key areas.
Regardless of whether they rent or own, all Brentwood residents face the challenge of rising housing costs. For many, the decision comes down to balancing short-term affordability with long-term financial goals. Renters may have lower monthly expenses, but homeowners are building equity in a highly desirable market.
| Expense | Apartment (2BR) | House (Median Price) |
|---|---|---|
| Rent/Mortgage | $2,395 | $5,570 |
| Utilities | $200 | $500 |
| Property Tax | – | $496 |
| Insurance | $15 | $167 |
| HOA/Maintenance | – | $500 |
| Total | $2,610 | $7,233 |
What’s Driving Costs Up or Down?
Several key factors are influencing the cost of housing in Brentwood and the greater Nashville area. On the demand side, a thriving local economy and influx of new residents are putting pressure on the market. Brentwood’s highly rated schools and proximity to major employers like Nissan and Vanderbilt University make it a popular choice for families and professionals.
At the same time, supply has struggled to keep pace, particularly in the single-family home market. Strict zoning laws and high land costs have limited new construction, while many existing homeowners are staying put rather than trading up. This inventory shortage has pushed prices to record highs and fueled fierce competition among buyers.
In the rental market, a surge of new apartment construction has helped absorb some of the demand. Developers are banking on the continued growth of the Nashville region, particularly among younger renters. However, most new units are luxury-grade, with high-end finishes and amenities that command top dollar. Affordable rentals remain scarce.
FAQs About Housing in Brentwood
Is Brentwood affordable to live in?
Brentwood is one of the most expensive cities in Tennessee, with housing costs far above the national average. However, many residents feel the high quality of life justifies the price tag. Incomes in Brentwood are also significantly higher than the U.S. median.
Why are housing prices so high in Brentwood?
A combination of factors, including strong demand, limited supply, and desirable amenities, have driven up home values and rents in Brentwood. The city’s excellent schools, safe neighborhoods, and convenient location make it a sought-after place to live.
How does the cost of living in Brentwood compare to Nashville?
Brentwood is about 20% more expensive than Nashville as a whole. The biggest difference is in housing costs, with Brentwood homes and apartments typically priced 30-40% higher than comparable properties in Nashville.
Making Smart Housing Decisions in Brentwood
For Sarah and Mark, crunching the numbers was an eye-opening experience. They realized that while renting in Brentwood was pricey, it paled in comparison to the all-in cost of owning a home. Based on their budget and life stage, they decided to rent a 2-bedroom apartment for a few more years – but with a plan to save aggressively for a future down payment.
Of course, every family’s situation is different. Some may prioritize the stability and investment potential of homeownership, while others value the flexibility and predictability of renting. The key is to look beyond the sticker price and consider the full picture of monthly expenses, from utilities to maintenance to insurance.
For those committed to making Brentwood home, it’s also worth exploring ways to trim costs and stretch your housing budget. Opting for a smaller space, living further from the city center, or finding a roommate can all make a significant difference. So can being proactive about budgeting for monthly expenses and planning ahead for future housing costs.
Ultimately, whether you rent or buy, Brentwood offers a truly exceptional quality of life for those willing to pay the premium. By doing your homework and making smart financial choices, you can find a place to call home in this vibrant, welcoming community.