When Melissa and David started looking for their first home in La Vergne, they quickly realized how much went into the decision. It wasn’t just about finding the right neighborhood or layout — they needed to understand the full cost of living in an apartment vs house in La Vergne.
“We had to look at everything from the mortgage to property taxes to utilities,” Melissa explained. “It was a lot more complex than just comparing rent prices.”
For anyone considering the jump from renting to owning in La Vergne, it’s crucial to understand the full financial picture. Here’s a closer look at the key costs and trends shaping the local housing market in 2023.
The Housing Market in La Vergne Today
Like many cities, La Vergne has seen its housing inventory tighten in recent years. While new apartment complexes and single-family developments are popping up, demand still outpaces supply, putting upward pressure on both rents and home prices.
One unique factor in La Vergne is the growing popularity of green spaces and outdoor amenities. Many newer apartment communities are incorporating features like walking trails, dog parks, and community gardens to attract renters. Single-family neighborhoods are also prioritizing green space with pocket parks and tree-lined streets.
Despite rising costs, La Vergne remains relatively affordable compared to Nashville and other nearby cities. Its proximity to major employers, combined with a lower tax rate, makes it an appealing choice for both renters and buyers.
Renting in La Vergne: What’s Typical?
As of 2023, the average rent for a 1-bedroom apartment in La Vergne is around $1,250 per month. For a 2-bedroom, renters can expect to pay closer to $1,500. These prices reflect a 4% increase over the past year.
Some of the most popular areas for renters include the Lake Forest and Cedar Grove neighborhoods, which offer a mix of newer apartment complexes and established communities. Young professionals are drawn to the amenities and convenient location, while families appreciate the strong school system.
While rent in La Vergne has risen across the board, certain pockets still offer relative affordability. Neighborhoods like Farmingdale and La Vergne Manor have slightly older rental stock and fewer luxury amenities, translating to lower monthly costs for renters on a budget.
Owning a Home in La Vergne
For those looking to buy, the median home price in La Vergne currently sits at $350,000. With a 10% down payment and 4% interest rate, that translates to a monthly mortgage of around $1,800 (including taxes and insurance).
On top of the mortgage, La Vergne homeowners need to account for property taxes, which average 0.75% of the assessed value annually. For a median-priced home, that’s an additional $220 per month. Homeowners insurance adds another $80-100 on average.
Many neighborhoods in La Vergne also have active HOAs that cover common area maintenance and amenities. Typical dues range from $25-300 per month, depending on the community and provided services. For example, neighborhoods like Lake Forest Estates and Woodland Hills have higher fees to maintain their lakes and walking trails.
Renters vs. Homeowners: Who Lives Where?
La Vergne has a homeownership rate of 65%, slightly lower than the national average. The largest group of homeowners are families and older residents who have built equity over time. Younger individuals and those new to the area are more likely to rent.
While renting is common among La Vergne’s Millennial population, many are making the transition to ownership as they start families and seek more space. The relative affordability of starter homes compared to Nashville proper makes it an appealing choice.
Still, financial barriers persist for some. Saving up for a down payment and closing costs can be challenging, especially for those juggling student loans or other debt. As home prices rise, some residents are finding themselves priced out of ownership, even if their monthly budget could handle the mortgage payment.
| Expense | Apartment (1BR) | House (3BR) |
|---|---|---|
| Rent/Mortgage | $1,250 | $1,800 |
| Property Tax | – | $220 |
| Insurance | $15 (renters) | $90 |
| Utilities | $120 | $280 |
| HOA | – | $50 |
| Total | $1,385 | $2,440 |
Estimates reflect mid-range properties and average usage.
What’s Driving Costs Up or Down?
Several key factors are influencing housing costs in La Vergne. On the demand side, the strong local job market is attracting new residents and putting pressure on the existing housing stock. Major employers like Nissan and Bridgestone are driving growth in the area.
In terms of supply, zoning and land use policies have a big impact. La Vergne has been proactive about approving new developments, but the process takes time. Construction costs have also risen sharply, making it more expensive to build new housing.
One policy that’s had a notable effect is the city’s push for more mixed-use zoning. By allowing apartments, townhomes, and single-family homes to coexist in the same area, La Vergne is aiming to create more diverse and affordable options. However, some residents worry about the impact on traffic and school crowding.
FAQs About Housing in La Vergne
- Is La Vergne affordable to live in?
Compared to Nashville and other major cities, La Vergne offers a lower cost of living. However, housing costs have been rising steadily, and affordability is a growing concern for many residents. - Why are housing prices changing?
A combination of population growth, limited supply, and rising construction costs are driving up prices. The strong local economy and job market are also contributing factors. - How does La Vergne compare to nearby cities?
La Vergne is more affordable than Nashville, with lower housing costs and property taxes. However, it’s slightly pricier than some neighboring towns like Smyrna and Murfreesboro.
Making Smart Housing Decisions in La Vergne
For anyone weighing the cost of living in an apartment vs house in La Vergne, the key is to look beyond the sticker price. Factors like utilities, insurance, and maintenance can add up quickly, especially for homeowners.
Renters should also consider the full picture, including any additional fees for parking, pets, or amenities. Comparing [average monthly expenses in La Vergne](/la-vergne-tn/monthly-budget/) can help create a realistic budget.
Ultimately, the decision depends on your unique financial situation and long-term goals. By understanding the market and planning ahead, you can find the right fit for your lifestyle and budget. Our [cost of living guide](/la-vergne-tn/cost-overview/) for La Vergne offers a helpful starting point.
As for Melissa and David, they eventually found a townhome that offered the space they needed at a price they could afford. “It took a lot of research and budgeting,” Melissa said. “But we feel good about our decision and are excited to put down roots in La Vergne.”