Buying Vs. Renting in Clarksville, TN

[John Williams]

The average asking price for rent on a 3br, 2ba home in Clarksville, TN is $1,729/month. 

The average asking price on a 3br, 2ba home for sale in Clarksville, TN is $321,799. With a 5% down payment, a buyer could expect a monthly PITI payment around $2500 - $2700 /month.

Could rental rates increase as demand for rental homes increases (because purchases are less affordable)? This could be good for rental property owners. 

Buyers do have a lot more leverage in this market because homes are sitting on the market and sellers are offering concessions.