The Home Buyer's Korner

Information presented should be used for educational purposes only.

January 15th, 2016

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Home Buyer’s Korner

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Nashville City Center Neighborhood

Nashville, Tennessee

Nashville City Center

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Nashville’s City Center is an urban neighborhood. The median real estate price in the City Center of Nashville is $266,884, which is more expensive than 91.3 percent of the neighborhoods in Tennessee and 69.1 percent of the neighborhoods in the U.S.

The average rental price in Nashville City Center is currently $1,319, and the average rental cost in this neighborhood is higher than 91.5 percent of the neighborhoods in Tennessee.

Vacancies are a major fact of life in Nashville’s City Center and stands at 29.9 percent, but the percent is due mostly because of the neighborhoods new construction that is not yet occupied.

Real estate in the City Center of Nashville, TN is primarily made up of small studios to two bedroom to medium sized three or four bedroom condominiums. The Nashville City Center neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or multi-family sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 96.7 percent of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Furthermore, the real estate in the Nashville City Center neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of multi-family housing than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by large high rise developments and large complexes. In fact, 95.1 percent of the real estate here is classified as multi-family, which is more than is found in 99.2 percent of American neighborhoods.

When considering Nashville’s City Center to call home some of the subdivision to consider are:

The Gulch is a LEED Certified community in the heart of Nashville. It’s a dynamic area of urban development and redevelopment on the southwest border of Nashville’s Central Business District. An exciting combination of the old, the adapted, and the cutting edge, the GULCH pulsates with opportunities for the very best in urban living.

Nashville’s hot spot for dining is the GULCH’s for Lunch or dinner, casual or classy, there’s a place for every taste. The Gulch also has a diverse music venues bluegrass to jazz, and neighborhood bars. If shopping after work is your thing, the Gulch has many unique retail shops opened late into the evening for up-to-the-minute fashions for both you or your home.

With almost 1,500 places to call home, living in the GULCH puts you right in the middle of Nashville’s best urban neighborhood and the South’s only LEED certified community. Adjacent to downtown Nashville and Music Row, the GULCH.

Just a few blocks south of Broadway, Rolling Mill Hill sit perched upon one of the highest points in downtown Nashville. With spectacular, unobstructed views of the city skyline and the Cumberland River, Rolling Mill Hill offers its residents, urban convenience in a setting that is set back a bit from the hustle and bustle of the city. 

Most of the residential real estate is renter occupied. A number of residences were also built between 1970 and 1999, but many of the residences in the City Center neighborhood are newer, built in 2000 to present day with even more new development planned as urban Nashville grows in popularity. Also of note, homes built from 2000 through today make up a higher proportion of the Nashville City Center neighborhood’s real estate landscape than 96.1 percent of the neighborhoods in America. When you are driving around this neighborhood, you’ll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 50.5 percent of the residential real estate here is classified as newer.

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways.

In the Nashville City Center neighborhood, walking to work is a real option for many. In fact, walking to and from work is the chosen way to commute for 25.2 percent of residents here. This is a higher proportion of walking commuters than we found in 98.4 percent of American neighborhoods. Get ready to put on your walking shoes if you move here!

In the Nashville City Center neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.9 percent of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Your future neighbors in the City Center neighborhood in Nashville enjoy middle class incomes, and this neighborhood has a higher income than 49.6 percent of the neighborhoods in America. 

In the Nashville City Center neighborhood, 61.3 percent of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 22.4 percent of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations at 12.3 percent, and 7.3 percent in government jobs, whether they are in local, state, or federal positions.

Culture is shared learning behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture, our learned behavior, comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand. Places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the City Center neighborhood in Nashville, TN, residents most commonly identify their ethnicity or ancestry as German at 9.5 percent. There are also a number of people of Irish ancestry at 9.2 percent, and residents who report English roots at 8.4 percent. Some of the residents are also of Mexican ancestry at 4.0 percent, along with some Italian ancestry residents at 3.6 percent, among others.

The most common language spoken in the Nashville City Center neighborhood is English, spoken by 90.2 percent of households, while 4.5 speak Spanish, and 1.7 percent primarily speak Italian at home.

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TENNESSEE HOME OWNERSHIP TOOLS

Your Home Purchasing or Refinancing & Renovation Tools,

Home Improvements, Home Renovations,

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase.

Here are just a few of the home improvements

you might consider with any Home Renovation loan

Repair or replace a roof

Install, replace or repair gutters and downspouts

Replace, repair or upgrade your HVAC system

Repair or replace plumbing

Install, repair or replace electrical systems

Kitchen remodeling (including the purchase and installation of appliances)

Bathroom remodeling, Full interior painting, Total exterior painting

Repair or replace a septic system and/or well

Disability access (wheelchair ramp, elevator, widen doorways)

Build, repair or replace a deck, patio or porch

Basement waterproofing and finishing

Abatement/Stabilization of lead-based paint hazards

Replace old windows, Room additions, Finish an attic

Add a second story to your home

Replace a termite damaged sill plate (a water-damaged sill plate also)

Possible landscaping items such as correction of grading & drainage problems,

tree removal, repair a driveway and sidewalks

FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMESTYLE

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

USDA RURAL DEVELOPMENT

Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors are ready to assist you

A SIMPLE HOME SHOPPING INSPECTION TOOL

Organizing your home shopping experience affords a wise decision-making process.

This simple home inspection tool makes your ultimate buying decision a smart one.

To print this document, click on “Open in New Window” located at the lower right corner;

click on “File”; then click on “Print”. In the center of the screen you will

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37201 Broadway 3RD AVE S Almond St 1st Ave N 3rd Ave N 1st Ave N Church St 1st Ave N 2nd Ave N Demonbreun Demonbreun St 1st Ave N 2nd Ave S Church St AIRPORT ROAD OFF 3rd Ave N 2nd Ave N 2nd Ave S Printers Aly 3rd Ave N Ave S Price Rd

37203 18TH AVE N MILLIE PL Long Blvd 12th Ave S Hawkins St 25th Ave N FALL ST Parman Pl Summitt Ave Argyle Ave 12th Ave S DREXEL ST EDGEHILL AVE Hillside Ave Wedgewood Ave 29th Ave N Clinton St Pillow St Sigler St 1212 Laurel Street 30th Ave N Spruce St 30th Ave S 12th Ave S 1004 Southside Place Wingrove Ave Elliott Ave 21st Ave N Arygle Ave Argyle Ave Demonbreun St Wedgewood Park Charlotte Ave Jo Johnston Ave Bransford Mcgavock St 5th Ave S Long Blvd.Fort Negley Blvd Parthenon Ave Allison Pl Broadway Southgate Ave Martin St Burch Ave Stewart Pl Lynwood Ave 9th Ave N Long Blvd Waverly Ave Burns Ave ALLOWAY ST 10th Cir N Argyle Ave Long Blvd 29th Ave N Allison Place Terrace Pl WARNER ST 11th Ave S Arena Ave Hamilton Ave Laurel St. Poston Ave Ewing Ave 8th Ave S Fairmont Ct Ridley Blvd Patterson St Middleton Ave Wade Ave Murphy Ct Fairmont Dr Grove Ave Avoca Ave Acklen Ave Ave S Wedgewood Park Fairmont Pl Elliston Pl Acklen Ave Acklen Park Dr Beech Ave Rosa L Parks Blvd Lea Ave Mason Ave 12th Ave S Broadway Alloway Alloway Demonbreun Street McMillan St 10th Ave South 18th Ave S 9th Ave N Argyle Ave SOUTHSIDE AVE 31st Ave N OLYMPIC ST Southside Ct 14th Ave S 15th Ave N 17th Ave N 19th Ave N 19th Ave S 21st Ave N 22nd Ave N 23rd Ave N 29th Ave N 5th Ave S Music Cir S Moore Ave 30th Ave N 31st Ave N 10th Ave S Wedgewood Ave 12th Ave S 9th Ave S 9th Cir S Demonbreun St South St Southside Pl Clifton Ave Hynes St Roycroft Pl Argyle Ave Gate Ave 28th Ave N 31st Ave N Hedrick St Rains Ave Oman St End Ave Church St Hagan St 23rd Ave N Byrum Ave Zimmerlee St Polk Ave End Ave Humphreys St Parthenon Ave Hamiton Ave 30th Ave N End Cir Neal Ter Division St Carvell Dr End Ave Pine St Laurel St 11th Ave N DR DB TODD JR BLVD 15th Ave N Pearl St Little Hamilton Ave Gleaves St 18th Ave S State St Mallory St Lafayette St Music Cir N Music Sq E Music Sq W 12th Ave N 17th Ave S Broadway 22nd Ave N Archer St 12th Ave S Chestnut St Hayes St 14TH AVE N WINGROVE ST Belwood St Fisk St 18th Ave S

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