Murfreesboro, Tennessee

Home and rental property loans in Murfreesboro

Murfreesboro is the seat of Rutherford County and home to Middle Tennessee State University. Close to half of households rent, and one in three homes went up in 2010 or later. That mix shapes two kinds of loans: rental property for investors, and first and next homes for buyers.

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Rental loans for single-family, duplex and apartment property
Flip, bridge and new-build financing across Rutherford County
FHA, conventional and VA home loans where licensed

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Murfreesboro at a glance

The third-largest city on our Tennessee pages, after Nashville and Clarksville, with a big rental market.

Measure	Murfreesboro	Tennessee
Population, July 2025	About 171,200	Not compared
Change since 2020	Up about 12 percent (Rutherford County up about 13 percent)	Not compared
Single-family detached homes	About 53 percent	68 percent
Homes in buildings with five or more units	About 32 percent	14 percent
Homes built 2010 or later	About 33 percent	15 percent
Homes built before 1970	About 11 percent	About 27 percent
Owner-occupied homes	About 52 percent	About 67 percent
Median home value (owner estimate)	About $402,000	About $287,000

Sources: U.S. Census Bureau, American Community Survey 2020-2024 five-year estimates (opens in a new tab) (housing figures; estimates with margins of error) and Vintage 2025 population estimates (opens in a new tab) (July 1, 2025, compared with the April 2020 base). Accessed Oct. 20, 2026.

Room to choose: the median Murfreesboro home dates to 2002, newer than Nashville's 1987 and older than Spring Hill's 2009. Townhomes make up roughly 9 percent of homes and duplex-to-fourplex buildings about 6 percent, so within one city a buyer or investor can pick among a detached house, an attached townhome, a small multi-unit building or a larger apartment property.

For renovators, houses built from the 1970s through the 1990s are typical flip candidates: old enough to want updated kitchens, baths and systems, and once finished they can be resold, or kept as rentals with a DSCR loan, where available, as one way to finance the hold. For owners, a townhome gives a first-time buyer another path besides a detached house.

A university city with a large rental market

Middle Tennessee State University reported a total fall 2025 headcount of 20,812 in its 2025-26 Fact Book (opens in a new tab). Add steady growth across Rutherford County, and rental housing is a large part of the local market. Renters make up almost half of households here, and buildings with five or more units hold close to a third of all homes.

For investors, that means single-family rentals, duplexes and fourplexes, and apartment buildings all trade here. A DSCR loan looks at the property and its rent; it doesn't depend on who the tenants are. For buyers, the choice is often between a newer home in a recent subdivision and an older resale closer to the center of town.

For investors: Murfreesboro

Business-purpose loans for investment property only. Not for personal, family or household use. Subject to approval. Equal Housing Opportunity.

DSCR rental loans

Single-family rentals anywhere in the city, judged mostly on what the house rents for.

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Small multifamily

Two to four units near campus or across town, qualified on combined rent.

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5+ unit apartments

Nearly a third of local homes are in larger buildings. Apartment properties of five units and up can be financed for business purposes on select programs.

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Fix and flip

Older resale homes, bought, updated and resold.

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Bridge loans

Buy a property, renovate and lease it, then refinance into a longer-term rental loan.

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Ground-up construction

New rentals and spec homes on lots in Rutherford County's growing areas.

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Home loans for Murfreesboro buyers

Home loans are offered only in states where Iron Hill Mortgage is licensed. Check our licensing page or NMLS Consumer Access for where we're licensed. Iron Hill Mortgage is a private company. We are not a government agency, and we are not endorsed by HUD, the FHA or the U.S. Department of Veterans Affairs.

FHA loans

Insured by the FHA. Its credit rules have some give, and first-time Murfreesboro buyers often weigh it against conventional.

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Conventional loans

For new subdivision homes and older resales alike. We'll compare it with FHA using your numbers.

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VA loans

Guaranteed in part by VA. If you've earned VA eligibility through service, it can finance a Murfreesboro resale or a home in a newer subdivision.

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Your first Murfreesboro home

A step-by-step look at buying, from setting a budget to the closing table.

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New construction or resale? What to compare

New homes: read the builder contract, deposit terms and timeline, and compare your lender options side by side.
Resale homes: get a full inspection, and check the age of the roof, HVAC and water heater.
Investors: base your numbers on recent comparable leases, not asking rents.
For 2-4 unit and 5+ unit property, gather current leases and a rent roll before you apply.

Common questions

Can I buy a rental near MTSU with a DSCR loan?

Yes. It's a business-purpose loan for a property you won't live in, sized around the home's market rent against its taxes, insurance and loan costs. Being near campus doesn't change how the loan works, so build your numbers from recent comparable leases, not asking rents.

Is FHA a good fit for a first Murfreesboro home?

It can be. FHA has flexible credit guidelines, while conventional loans may cost less for some buyers. The right choice depends on your credit, savings and the home. We'll compare both with your numbers.

How do I compare new construction with an older resale home in Rutherford County?

Look at the full cost, not just the price: HOA dues, property taxes, expected repairs and timing. New homes can mean waiting for the build; resales can mean updates sooner. We'll help you see how each fits your budget.

Can I finance a duplex or fourplex in Murfreesboro?

Yes. Small multifamily is common around the city, and as a rental it fits a business-purpose DSCR loan sized on the combined rent of the units. Planning to live in one of the units yourself? That's a home loan instead, and we'll walk through which programs allow it where we're licensed.

Do you finance apartment buildings in Murfreesboro?

We do, for business purposes, on select programs. A five-plus unit building is underwritten on its rent roll, operating history and condition, so send the current leases, the last year of income and expenses, and what you plan to change after you buy.