Cheaper home prices drive growth in more affordable neighborhoods
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Nashville homebuyers are embracing more affordable enclaves in the city as prices continue to skyrocket.
Why it matters: The median value of a single-family home in the greater Nashville area climbed to half a million dollars last year, and the hunt for cheaper deals is shaping several aspects of city life.
- Pockets of Davidson County with more affordable homes are already seeing surges in population, development and transit options.
Zoom in: Antioch is a prime example of a neighborhood where lower prices are driving rapid growth.
- The 37013 ZIP code in Antioch, which was one of the cheapest areas in 2024, also logged the most home sales last year.
- The nearby 37217 had the most affordable median price last year at $328,000.
The big picture: Antioch is one of the fastest growing parts of the city.
- Metro is expected to add a new police precinct in the area later this year to accommodate the growth. Antioch is also one of the neighborhoods tapped for a new transportation center under Mayor Freddie O'Connell's transportation plan.
Zoom out: The second-most affordable ZIP code in the city is the rapidly growing 37115 in Madison at $345,000.
- That area is targeted for a transformative development project that will boost housing density. Construction on the project is expected to begin this year.
What they're saying: "What we've been seeing in Antioch, Madison and Bordeaux are prime examples of affordable housing options," Greater Nashville Realtors president Collyn Wainwright said in a statement to Axios.
- "This is especially attractive for buyers in our growing workforce."
The other side: The most expensive ZIP codes in town are packed with the usual suspects.
- The 12 South area tops the list with a median sales price of $1.2 million, followed by Green Hills at $1.1 million and Belle Meade at $970,000.