It’s not new news that Nashville is a top city to live and a top destination to visit. But the real question is: Why? What are the reasons? Says who?
Let’s begin with credible sources on the national level:
- U.S. News & World Report annual ranking for “Best Places to Live” (2022-2023) recently named Nashville #25 in the country and among the top 10 cities in the South.
- In the state of Tennessee, U.S. News ranked Nashville at #1.
- At the start of 2022, Forbes gave Nashville the hard-earned title of a “Supernova City” along with other major metros like Austin, Texas, and Raleigh/Durham, North Carolina.
The “Best Places to Live” award, specifically, ranks the U.S.’s 150 most-populous metropolitan areas based on their value, desirability & quality of life, and strength of the job market. Here are the reasons Nashville and its surrounding cities ranked so well in these categories.
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To start, Nashville’s housing market currently reigns as the 29th most-valuable metro in the country, meaning anyone who owns property is holding a worthwhile investment. In fact, home values in Nashville increased by 31% in the last 12 months.
While many argue that rent prices are steep, other living conditions are ideal:
- Nashville’s housing affordability index is high at 7.1.
- The cost of healthcare is 3.3% lower than the national average.
- Tennessee does not impose an income tax, so residents are able to keep more of their income.
- The utility cost index for Nashville is lower than the national average (6.3% of residents’ income).
Desirability & Quality of Life
Nashville is a desirable place to live for many, many reasons because it truly offers something for everyone.
- Students have their pick of excellent colleges and universities with 20 accredited four-year, two-year, and technical institutions; and parents have access to the best school districts for their children in the suburbs of Clarksville, Franklin, Hendersonville, Mt. Juliet, and Murfreesboro.
- Nashville boasts a local team for nearly every sport with the Tennessee Titans (football), Nashville Predators (hockey), Nashville Soccer Club (soccer), and Nashville Sounds (baseball).
- The metro is music heaven, attracting music artists of every genre and featuring regular live music performances. Nashville also is home to the
- Nashville’s food scene is massive and incredibly diverse. Eater Nashville does a great job trying to sum-it-up.
- Outdoorsy residents have their pick of parks and excursions, including hiking, boating, bicycling, and much more.
- Nashville’s weather conditions are also mild (warm summers and cool winters), and residents enjoy every seasonal offering.
Strength of the Job Market
One of the top reasons Nashville has exploded at such a rapid rate is because renowned companies have moved their headquart] ers – and job opportunities – to the Greater Metro Area.
- The average annual salary for Nashville residents is $56,310.
- Nashville is a healthcare hub with Vanderbilt University Medical Center, HCA Healthcare, Community Health Systems, and Saint Thomas Health employing thousands of residents.
- The city is small business- and entrepreneur-friendly. Many successful small businesses are owned by young professionals and women.
- The labor force growth is ranked 2nd in the nation (3.2%), and the labor force participation for the city is ranked 4th (70.4%).
Franklin: Nashville’s Best-Kept Secret
Located 17 miles south of Nashville, Franklin is an equally desirable community experiencing growth. The sprawling suburb of 80,000 residents is consistently ranked on Money’s annual “Best Place to Live” list.
Residents do not even have to travel to Nashville for diverse shopping, fine dining, or exciting entertainment experiences as they have a broad selection in Franklin. Franklin’s local festivals, a rich history, and quick access to the country are also huge draws for families, retirees, and young professionals alike.
At Turnberry Homes, we have been building luxury homes in Nashville and the surrounding area for more than 30 years. Browse our communities on our website and contact us about building your semi-custom home!