Real Estate Investing in Murfreesboro, Tennessee (37128)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37128 (Murfreesboro, TN)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Murfreesboro, TN (37128)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 37128 Murfreesboro
Not every below-median market is a bargain. Murfreesboro's 37128 ZIP comes in at signals that favor experienced operators who can absorb the risk $446K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $446K asset, 37128 is the wrong submarket. If the plan prices in friction, the yield can still work.
Looking more closely, 37128 offers a low basis, the region around Murfreesboro has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The 37128 ZIP's population of 77,016 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
New investors are better served looking at Murfreesboro's stable or hybrid ZIPs before stepping into 37128. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Murfreesboro:
Property Strategy for 37128
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $306,224 | $1,800 | 4.2% | +8.2% | $153,112 |
| 3BR | $398,479 | $2,300 | 4.2% | +7.7% | $132,826 |
| 4BR | $520,289 | $2,800 | 3.9% | +7.4% | $130,072 |
| 5BR | $602,866 | — | — | +8.1% | $120,573 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 37128 Compare?
| Metric | 37128 | Murfreesboro | Nashville-Davidson--Murfreesboro--Franklin, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $445,731 | $338,620 | N/A | $327,001 |
| 5-Year CAGR | 4.8% | 4.8% | N/A | 7.7% |
| Avg Rent | $1,709 | $1,720 | N/A | - |
| Cap Rate | 3.0% | 3.2% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 37128 (Murfreesboro, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $445,731 |
| Monthly Rent | $1,709 |
| Price-to-Rent | 21.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 7.8% |
📈 Home Appreciation
| 1-Year | +1.1% ▲ |
| 3-Year CAGR | +1.2% ▲ |
| 5-Year CAGR | +4.8% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | -3.2% ▼ |
| 3-Year CAGR | +0.0% ▲ |
| 5-Year CAGR | +2.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 37128
Population: 77,016
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 37128
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,409 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Does Murfreesboro, TN make sense for an investment property?
Investors tracking Murfreesboro, TN will find a 3.0/5 rating supported by $446K median home values and $1,709/mo rents. That profile suits long-term holders targeting even-keeled returns.
How should investors approach Murfreesboro, TN?
The best-fit strategy in Murfreesboro, TN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What is the median home value in Murfreesboro, TN?
Median home price in Murfreesboro, TN is near $446K, with a 5-year CAGR of 0.0%. Prices have been stable and supportive of buy-and-hold strategies.
How tight is the rental market in Murfreesboro, TN?
Occupancy in Murfreesboro, TN runs even-keeled with elevated vacancy. Well-priced units at $1,709/mo lease on reasonable timelines.
Are landlord laws favorable in Murfreesboro, TN?
TN law landlord-friendly for landlords, and Murfreesboro inherits those rules. Investors should still review local ordinances for rental licensing.
You know 37128 now. You don’t know where it ranks.
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How 37128 ranks in Nashville-Davidson--Murfreesboro--Franklin, TN
Every ZIP in this metro, ranked. Free.
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