Rent Tracker
Rent Inflation in Morristown, TN
The average asking rent in Morristown, TN is $1,479/month as of 2026-08. That is +2.6% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,479/mo
as of 2026-08
Year-over-Year Change
+2.6%
24-Month Rent Trend
Monthly ZORI index values for Morristown, TN.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $1,479 | +0.00% |
| 2026-07 | $1,479 | +1.51% |
| 2026-06 | $1,457 | -0.88% |
| 2026-05 | $1,470 | +0.48% |
| 2026-04 | $1,463 | +2.02% |
| 2026-03 | $1,434 | +1.85% |
| 2026-02 | $1,408 | -0.07% |
| 2026-01 | $1,409 | -0.56% |
| 2025-12 | $1,417 | -0.49% |
| 2025-11 | $1,424 | -1.52% |
| 2025-10 | $1,446 | -0.62% |
| 2025-09 | $1,455 | +0.97% |
| 2025-08 | $1,441 | +0.21% |
| 2025-07 | $1,438 | +1.13% |
| 2025-06 | $1,422 | -0.70% |
| 2025-05 | $1,432 | +1.49% |
| 2025-04 | $1,411 | +0.71% |
| 2025-03 | $1,401 | +2.56% |
| 2025-02 | $1,366 | +0.66% |
| 2025-01 | $1,357 | +0.74% |
| 2024-12 | $1,347 | -1.75% |
| 2024-11 | $1,371 | -1.30% |
| 2024-10 | $1,389 | -0.57% |
| 2024-09 | $1,397 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices