Updated 2026 · Based on median market data for Cookeville, TN
The median monthly rent in Cookeville, TN is $1,550, translating to $18,600 in annual gross rental income per unit. The rent-to-price ratio is 0.54% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Cookeville spend approximately 35% of the local median household income ($53,744) on rent. This exceeds the standard 30% affordability threshold, suggesting rent growth may face resistance — but it also means a large portion of the population finds buying even more out of reach, supporting rental demand.
The vacancy rate in Cookeville is 5.7%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 1.6% annually is actively adding rental demand.
Cookeville's GRM (price divided by annual rent) is 15.3x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,550/mo, a single-family rental in Cookeville generates approximately $18,600 in gross annual income. After accounting for 5.7% vacancy ($1,060 lost), property taxes of $1,853, insurance (~$1,140), and maintenance (~$1,140), the estimated NOI is $13,407 per year, or $1,117/mo.
Cookeville vs Tennessee state average and national average across key investment metrics. Cookeville outperforms both benchmarks on cap rate.