What Housing Really Costs in Spring Hill

Is it cheaper to rent or buy right now in Spring Hill, TN? The answer depends on a variety of factors, from your budget and lifestyle to the current housing market trends. In this article, we’ll break down the key costs and considerations to help you make an informed decision about renting vs. buying in Spring Hill in 2025.

The Housing Market in Spring Hill Today

Spring Hill has seen steady growth in recent years, with an increasing number of new housing developments rising in the city center and surrounding neighborhoods. The local housing climate is characterized by a mix of single-family homes, townhouses, and apartment complexes catering to a diverse population of young professionals, families, and retirees.

While inventory has tightened somewhat due to the city’s popularity, there are still a range of options available for both renters and buyers. Many apartments in Spring Hill now offer amenities like green spaces, fitness centers, and community pools to attract residents.

The economic context is favorable, with a strong job market and relatively affordable cost of living compared to larger cities in the region. However, as demand for housing continues to rise, both rent prices and home values have been trending upward.

Renting in Spring Hill: What’s Typical?

As of 2025, the average rent for a 1-bedroom apartment in Spring Hill is around $1,200 per month, while a 2-bedroom typically goes for about $1,500. These prices can vary depending on the specific location, age of the building, and included amenities.

Popular areas for renters include the city center, which offers walkability and easy access to dining and entertainment, as well as the newer developments in the southern part of the city. Many young professionals and small families opt to rent in these areas.

Rent in Spring Hill has risen by about 4% in the last year, outpacing the national average. However, neighborhoods like Shacklett and Rutherford Creek still offer relatively affordable options for renters on a budget.

Owning a Home in Spring Hill

The median home price in Spring Hill is currently $400,000, which translates to a typical monthly mortgage of around $1,800 for buyers putting 10% down. However, this doesn’t include additional costs of ownership like property taxes, insurance, and HOA dues.

Property taxes in Spring Hill are slightly below the national average, at around 0.6% of assessed value. For a median-priced home, this comes out to about $2,400 per year or $200 per month. Homeowners insurance adds another $80-100 per month, on average.

Many neighborhoods in Spring Hill have active HOAs, with dues ranging from $20-300 per month. For a typical home in a community with moderate amenities, owners can expect to pay around $150 per month in HOA fees.

Renters vs. Homeowners: Who Lives Where?

Spring Hill’s homeownership rate is about 70%, slightly above the national average. The majority 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, often in apartment complexes or townhouse communities. Some retirees also choose to downsize and rent for added flexibility and less maintenance.

While renting is common among younger residents, rising rental costs and a desire for more space have led many millennials to consider buying homes in recent years. However, financial barriers like saving for a down payment and qualifying for a mortgage can make the transition to ownership challenging.

What’s Driving Costs Up or Down?

Several factors influence the cost of housing in Spring Hill, with supply and demand being a key driver. As more people move to the area for jobs and quality of life, competition for available homes and apartments has increased, pushing prices upward.

The local job market is strong, with major employers in healthcare, manufacturing, and education. This economic stability has made Spring Hill an attractive place to live, but also contributes to rising housing costs, especially in high-demand neighborhoods near major employers.

On the supply side, zoning and land use policies have a significant impact. Much of Spring Hill is zoned for single-family homes, which limits the development of denser, more affordable housing options. However, the city has taken steps in recent years to allow for more mixed-use and multifamily construction, which could help ease price pressures over time.

FAQs About Housing in Spring Hill

• Is Spring Hill affordable to live in? Compared to major metros, Spring Hill offers a relatively affordable cost of living. However, housing costs have been rising faster than wages in recent years, which can make it challenging for some residents to find affordable options.
• Why are housing prices changing? A combination of population growth, economic development, and limited housing supply have contributed to rising prices. As more people move to the area and compete for available homes and apartments, costs have gone up.
• How does Spring Hill compare to nearby cities? Housing costs in Spring Hill are generally lower than in Nashville, but higher than some smaller towns in the region. The city offers a balance of affordability and amenities that appeals to many residents.

Making Smart Housing Decisions in Spring Hill

Whether renting or buying makes sense for you will depend on your unique financial situation and housing needs. As you weigh your options, consider factors like:

• Your budget and savings
• How long you plan to stay in the area
• Your desire for stability vs. flexibility
• The true monthly costs of each option (using a sample monthly budget as a starting point)

Regardless of whether you choose to rent or buy, it’s important to have a clear picture of your finances and the overall cost of living in Spring Hill. By understanding the local market and planning ahead, you can make a smart housing choice that fits your lifestyle and long-term goals.