Renter percentages in Riverbridge have inversely mirrored homeownership rates, ranging from a low of 20% in 2021 to a high of 30% in 2016 and 2017. Average rent prices have shown a general upward trend, increasing from $1,342 in 2013 to $1,626 in 2022, a 21% rise. Interestingly, the highest average rent of $1,748 was recorded in 2021 when the renter percentage was at its lowest (20%), suggesting a potential correlation between limited rental supply and higher prices.

Looking at the most recent data, average home prices in Riverbridge reached $337,418 in 2023 and slightly decreased to $333,528 in 2024. This slight dip coincides with a significant increase in federal interest rates, which rose to 5.02% in 2023 and further to 5.33% in 2024. These higher interest rates may be contributing to a cooling effect on home prices.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in Riverbridge may experience moderate growth, potentially reaching around $380,000 by 2029. This projection assumes a gradual stabilization of interest rates and continued demand for housing in the Nashville metropolitan area. Average rent prices are expected to continue their upward trajectory, potentially reaching approximately $1,900 by 2029, driven by inflation and ongoing urbanization trends.

In summary, Riverbridge has demonstrated a robust housing market characterized by strong homeownership rates and significant appreciation in home values. The neighborhood has weathered fluctuations in federal interest rates while maintaining a relatively stable balance between owners and renters. The recent cooling in home prices, coupled with rising interest rates, suggests a potential shift in market dynamics that will be important to monitor in the coming years. Despite these changes, Riverbridge appears well-positioned to remain an attractive residential area within the Nashville-Davidson metropolitan region.