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Owning and Renting in Davidson County
Cost Burdened in Davidson County (2000-2008)
Cost Burden increased over time
56.2 Similar to national trends, percentages
60 53.3 52.9
of cost-burdened households in
50 44.5
Davidson County have increased
50.2 Renters <50K
47.4 substantially from 2005 to 2008
Percent Cost Burdened
40
43.4
30
39.4
Owners <50K Households that earn less than $50,000
per year have much higher degrees of
20 11.3 Owners >50K cost burden compared to households
6.7 6.5 6.3
10
5.2 earning more than $50,000 per year
0 1.6 1.7 Renters >50K
0
In 2008, the majority of both owners
2000 2002 2005 2008
and renters earning less than $50,000
per year were cost burdened
Source: 2000 US Census and American Community Surveys 2002, 2005, and 2008
Percent differences in Income & Affordability (homeownership): Race & Ethnicity
Affordability differed by race & ethnicity
20 compared to Davidson County medians
M
10 Affordability is the home value that a resident
e 12
0
8 10 7
can afford based on 30% of their income
d
i
The median income of white households is
-10 Income
a
12% higher than the Davidson County median,
-23
n
-20 -26 Affordability & the median affordability of white
-29-30
s -30 households is 8% higher
White & Asian residents have higher median
incomes and greater median affordability than
Davidson County medians
Source: American Community Survey (ACS) 2006-2008 Black & Hispanic residents have lower median
incomes & lower median affordability than
Davidson County
Supply and Demand
Supply and Demand of Units Available to Residents: For residents earning less than $75,000
80,000 69,221
Davidson County does not have affordable
65,053 housing for low-income residents
60,000 49,204 Nashville has less than one-half of the housing
units necessary for residents earning $20,000
40,000 or less to afford their rents or mortgage
Supply: Occupied
46,052 48,196 Housing Units payments with 30% or less of their incomes
20,000 13,120 39,789
10,262
21,623 26,510
Demand: The supply of units exceeds the demand for
0 Households those units for residents earning $20,000 -
$75,000
Assuming that residents may spend less than
30% of their incomes on housing costs, less
supply may exist for those at the lowest income
levels than presented on this graph
Source: American Community Survey (ACS) 2006-2008
Supply and Demand of Units Available to Homeowners: For homeowners earning less than $75,000
Davidson County does not have high levels of low-
50,000
40,113
income homeownership
40,000 33,728 The supply of homes affordable to low-income
28,212 homeowners is lower than the demand for
30,000 Supply: Available homeowners who earn less than $20,000
Homes
20,000
33,770
The supply of homes exceeds the demand of
10,000
8,090 21,997 24,011 homeowners for homeowners earning
2,752
5,267 9,140
Demand: Owner- $20,000 - $50,000
0 Occupied The supply of homes and the demands of
Households
owner-occupied households is approximately
equal for homeowners who earn $50,000 -
$75,000
Source: American Community Survey (ACS) 2006-2008
Supply and Demand of Units Available to Renters: For renters earning less than $75,000
40,000
Davidson County lacks affordable rental
36,841 housing for the lowest-income renters
30,000
29,108
The supply of affordable rental housing is
far lower than the demand for renters who
20,000 Supply: Available
Rental Units
earn less than $20,000
24,055 15,476 The supply of rental units that is affordable
10,000 Demand: Renter
16,356 17,370 15,778 14,426 to residents earning $20,000 - $50,000
7,510
Households
5,030 exceeds demand
0
For residents who earn $50,000-$75,000,
there is a more equitable relationship of
supply and demand
Source: American Community Survey (ACS) 2006-2008
Occupied Household Characteristics in Davidson County: Owners and Renters
Race Educational Family Household Income to Median Number of
Ethnicity Attainment Type Income Housing Year Built Bedrooms
0 (0.2%)
Hispanic (2.3%) 2000+
OWNERS 1 (2.3%)
(13.4%)
$75,000+ 30%+
Black (18.8%) Bachelor’s (29.4%)
(39.3%) 1990-1999
degree or Married (13.7%)
200,000
higher (50.6%)
(41.8%)
Asian (2.3%)
1980-1989
Without Mortgage 20%-30% (14.1%) 2-3
Total: 42,346 $50,000-$75,000 (24.3%) (74.5%)
Median Income: $46,106 (21.8%)
Med Monthly Cost: $430 Some College Male Head (3%)
Value: $160,000 (26.7%) 1960-1979
Female Head
$25,000-$50,000 (28.3%)
White (77.3%) (10.6%)
With Mortgage (25.4%)
Total: 112,562
High-school < 20% 1940-1959
Median Income: $66,690
Med Monthly Cost: $1,315 Grad (21.7%) (45.7%) (21.6%)
Non-family
Value: $161,500 (35.9%) $0-$25,000 4+
(13.6%) (23%)
100,000
< High School Before 1940
(9.8%) (8.8%)
0 (2.3%)
Hispanic (8.3%) Bachelor’s Married $75,000+ (9.7%) 2000+ (7.9%)
RENTERS degree or 1990-1999
(18%)
higher (26.4%) $50,000-$75,000 30%+ (12.6%) 1 (31.9%)
Male Head (5.1%) (14.8%) (45.6%) 1980-1989
Black (34.8%) (19.3%)
Some College
(29.7%) Female Head $25,000-$50,000
Asian (2.1%)
Total: 97,418 (19%) (32.9%)
Median Income: $28,865 1960-1979
20%-30%
High-school (41.6%)
Med Monthly Cost: $757 (25.4%) 2-3
Grad (26.5%)
(62.6%)
White (59.4%)
Non-family $0-$25,000
(57.9%) (42.5%) 1940-1959
< High School < 20% (13.7%)
(17.4%) (23.7%)
Before 1940 (4.8%) 4+ (3.2%)
Source: American Community Survey (ACS) 2006-2008
Renters and owners in Davidson County vary strongly across demographic characteristics
Owners tended to be less racially and ethnically diverse than renters; owners were likely to be more highly educated
than renters; and owners tended to be married whereas renters had a higher percentage of “non-family” households
Owners earned more, had lower percentages of cost-burdened individuals, and lived in newer homes with more
bedrooms than renters
