1st Advantage MortgageInvestors buying in Smyrna, TN are measured on the rent the property earns. Locally, median gross rent is $1,461 and median real estate taxes are $1,764 a year, which together set how much loan a rent can carry.
What the numbers say about Smyrna
Renters who pay cash rent in Smyrna have a median gross rent of $1,461 a month, about 23% above the Tennessee median of $1,189, while owner-occupied homes carry a median value of $358,300. The gross rent-to-value ratio for Smyrna works out to 4.9% (twelve months of median rent divided by median value), on the low side, so the payment, not the rent, usually decides whether a file clears. The figure combines all rental types with all owner-occupied homes, so it is a screening number and not an appraisal.
| Indicator | Tennessee | Smyrna | Difference |
|---|---|---|---|
| Persons per household | 2.45 | 2.79 | |
| Share of homes detached | 68.3% | 61.1% | -10% |
| Long commuters, 45 min plus | 15.2% | 19.6% | +29% |
| Degree holders, age 25+ | 31.1% | 27.8% | -11% |
| Workers on their own account | 9.8% | 7.5% | -23% |
| Renters paying 30%+ of income | 48.8% | 49.5% | +1% |
| Typical construction year | 1987 | 2000 | |
| Annual rent divided by value | 5.0% | 4.9% | -2% |
| Households that rent | 33.1% | 42.6% | +29% |
| Tax as a share of home value | 0.50% | 0.49% | -2% |
| Annual property tax bill, median | $1,442 | $1,764 | +22% |
| Household income, median | $69,595 | $81,926 | +18% |
| Typical owner-occupied value | $286,700 | $358,300 | +25% |
| Typical monthly rent | $1,189 | $1,461 | +23% |
| Residents (Census estimate) | 7,066,383 | 56,692 |
Tenure in Smyrna is split fairly evenly: 42.6% renter-occupied and 57% owner-occupied, with the renter share well above the Tennessee median of 33%. Incomes matter for rent growth: the median household earns $81,926, about 18% above the Tennessee median of $69,595, and 49% of renters are already cost-burdened at 30 percent of income or more.
Homes, buildings and vacancies in Smyrna
Smyrna offers a mix of product: 61% of units are detached, 6% are duplexes through fourplexes, and 15% are in mid-sized buildings. A median construction date of 2000 points to growth-era housing, where HOA leasing limits and new-build rent comparables are the bigger questions.
Vacancy is a quiet driver of rent. 4% of homes are vacant citywide and 3.7% of the rental inventory was listed for rent when the Census surveyed.
What the data means for Smyrna buyers
A gross yield of 4.9% means Smyrna is a market where purchase prices run ahead of rent, so a 1.0 ratio generally takes a larger down payment or a property priced below the local median. Because homes here are relatively new, expect more subdivisions and associations than in older cities. Renters are 43% of households, which gives investors a real tenant base to market to.
Insurance, tax and flood context for Smyrna
In Smyrna the median tax bill for an owner-occupied home is $1,764, or about 0.49% of value (Tennessee overall: 0.50%). That bill is about 22% above the Tennessee median of $1,442. At the median rent that tax bill takes roughly 10% of a year's rent before insurance, dues or interest.
FEMA's National Risk Index (version 1.20, December 2025) rates Rutherford County as relatively moderate overall for natural hazard risk, with winter weather (very high), cold waves (relatively high) and tornadoes (relatively high) among its leading hazards.
| Hazard in Rutherford County, FEMA index | Level |
|---|---|
| Riverine flooding exposure | Relatively High |
| Tornadoes exposure | Relatively High |
| Cold waves exposure | Relatively High |
| Winter weather exposure | Very High |
| Social vulnerability score | Very Low |
| Annualized loss estimate | Relatively Moderate |
| Composite risk | Relatively Moderate |
Many investors meet insurance too late, so get a quote tied to the Smyrna property's roof age and flood zone before you waive your inspection period.
The ratio in Smyrna dollars
For a rough fit test, treat $1,461 as the rent and $147 as the monthly tax. The payment cannot exceed $1,461 at a 1.00 ratio, so $1,314 is left after taxes for interest, principal, insurance and any association dues, shrinking to $1,022 if the lender wants 1.25.
What TN law and Smyrna require of landlords
Rental registration, inspection and nightly-stay rules differ by city, and we have not verified Smyrna's from a municipal source. A short call to the city and Rutherford County before you make an offer is cheap insurance. On lodging taxes, a Smyrna host should read this first. Tennessee charges sales tax on short-term rentals and a local occupancy tax on stays of 30 consecutive days or fewer, and platforms such as Airbnb collect both on bookings they process, while owners still handle business tax and direct bookings.
Deposit limits are set by statute in Tennessee (Tenn. Code Ann. § 66-28-301), and for Smyrna landlords the rule reads: No statutory cap (Tenn. Code Ann. § 66-28-301 sets none). Tennessee sets landlord notice for month-to-month tenancies at 30 days written notice before the periodic rental date (10 days for week-to-week), which matters if you inherit a tenant with no lease end date. As to caps on rent in Smyrna: No; local governments may not control rent (Tenn. Code Ann. 66-35-102).
Comparing Smyrna with surrounding markets
Set Smyrna ($358,300 median value) beside its neighbors: Murfreesboro comes in lowest at $402,100, and Franklin tops the group at $705,400.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Hendersonville | 28% | $2,458 | $430,700 | 63,091 | $1,653 |
| Nashville | 48% | $2,472 | $413,600 | 690,130 | $1,586 |
| Franklin | 36% | $3,011 | $705,400 | 87,133 | $1,923 |
| Murfreesboro | 48% | $2,323 | $402,100 | 161,445 | $1,481 |
| Smyrna | 43% | $1,764 | $358,300 | 56,692 | $1,461 |
The renter base in Smyrna
Roughly 7.5% of employed people in Smyrna are self-employed, a base of investors and landlords for whom a rent-based loan is a practical option. Around the edges, government workers are about 11% of employment, 28% of adults hold a bachelor's degree or higher and 20% of commuters travel 45 minutes or more.
From a Smyrna listing to a loan
Ready to test a Smyrna deal? Use the calculator for the ratio, then start your application or send us the scenario.
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- Every market we cover
Where we checked
- ACS 2020 to 2024 estimates for Smyrna
- FEMA risk data used for Smyrna
- Wikipedia: Smyrna, Tennessee
- Text of Tenn. Code Ann. § 66-28-301 for Smyrna landlords
- Lodging tax reference: Tennessee short-term rental tax manual
- Tennessee tax source: Tennessee local occupancy tax
All Smyrna statistics are ACS five-year survey estimates from 2020 to 2024. Tennessee landlord-tenant summaries draw on the RedFlagLease dataset (CC BY 4.0) and the statutes linked above. Last reviewed October 2026; the city and county have the final word on Smyrna rules.
Before you make an offer
Ask the seller for twelve months of utility bills and any lease on the Smyrna property, confirm who pays water, trash and lawn care, and get the insurance quote before the inspection period ends so the ratio is tested on real numbers.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
Which rent counts when I finance a Smyrna property?
It comes from a lease or from the market rent in the appraisal, whichever the program uses. Against that, the Smyrna median is $1,461.
How much payment fits the median Smyrna rent?
The denominator is the whole housing payment. Using Smyrna's median rent of $1,461, a ratio of 1.25 allows $1,169, and a ratio of 1.00 allows all $1,461.
Are Smyrna property taxes high for Tennessee?
The Census reports a median of $1,764 a year for Smyrna owners, about 0.49% of median value against 0.50% for Tennessee. The county reassesses after a sale, so ask the tax office for an estimate on your purchase price.
Will a lender count nightly rental income at a Smyrna property?
Often, with conditions: legal use under city and association rules, documented income and an insurance policy that covers guests. Smyrna owners should check all three first.
What are the security deposit rules for a Tennessee landlord?
Limit: No statutory cap (Tenn. Code Ann. § 66-28-301 sets none). Statute: Tenn. Code Ann. § 66-28-301. Confirm current text before you rely on it.
How exposed is Smyrna to natural hazards?
The county scores relatively moderate overall in FEMA's index, with winter weather leading. Parcel-level flood maps and a real insurance quote give the answer that counts.
How do LLC closings work for Smyrna rentals?
You do not need one, and many investors close in an entity. If you use an LLC, the lender asks for formation documents and usually a personal guaranty. Talk to your attorney and accountant about structure for a Tennessee property.