Zumper
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Updated 1 Day Ago

Highlights

  • Newly renovated apartments
  • Energy efficient
  • Equipped kitchens

Location

516 E 5th St, Chattanooga, TN 37403, USA|North Chattanooga - Hill City - UTC
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Contact

Management

Chattanooga Neighborhood Enterprise, Inc.

Leasing office

(423) 756-6284

Property Overview

516 E 5th is a highly rated, newly renovated property with energy-efficient apartments, equipped kitchens, and a strong balance of value, amenities, location, and quality. It also stands out for nearby fitness and wellness options, plus a vibrant social setting with abundant dining, cultural venues, parks, and entertainment close by.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

9.3
Excellent
516 E 5th is an excellent find, offering residents a superior living experience with a wide range of desirable features. Residents will particularly enjoy knowing that this property rated highest in Price and Amenities, which help to make this rental a great place to call home.

Things you’ll love

  • Outdoor space

Great for

  • Social life
  • Wellness

Floor plans

Downtown StudioStudio1 bath350 sqft$850 /mo1 unit availableAre you looking for a hip downtown apartment within walking distance of UTC, great restaurants, and local attractions? Whether you work at Unum, Erlanger, or TVA, this apartment is the perfect spot! Newly renovated, these apartments are energy efficient with equipped kitchens and nice windows that let the sun right in. Apartments located at 516, 518 & 522 E. Fifth Street. Please note that the apartment shown above may not be the apartment available. *Income Restricted* -Max annual income for a single household: $66,850 -Max annual income for a household of two: $76,400 -Max annual income for a household of three: $85,950 -Max annual income for a household of four: $95,950

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Amenities for 516 E 5th

Apartment Amenities

Trash

Appliances

OvenOven/Range
RangeRefrigerator

Building

Free Onsite LaundryOnsite Laundry

Grounds

Free Onsite ParkingLarge Grassy Backyard
Outdoor Space

Services

Recycling Onsite

Neighborhood

DowntownQuiet Street
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property
Building details

Property details

Units8
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About 516 E 5th

HomeApartments in ChattanoogaNorth Chattanooga - Hill City - UTC 516 E 5th

Are you looking for a hip downtown apartment within walking distance of UTC, great restaurants, and local attractions? Whether you work at Unum, Erlanger, or TVA, this apartment is the perfect spot! Newly renovated, these apartments are energy efficient with equipped kitchens and nice windows that let the sun right in. Apartments located at 516, 518 & 522 E. Fifth Street. Please note that the apartment shown above may not be the apartment available. *Income Restricted* -Max annual income for a single household: $66,850 -Max annual income for a household of two: $76,400 -Max annual income for a household of three: $85,950 -Max annual income for a household of four: $95,950


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
9.3
/10
Excellent
516 E 5th is an excellent find, offering residents a superior living experience with a wide range of desirable features. Residents will particularly enjoy knowing that this property rated highest in Price and Amenities, which help to make this rental a great place to call home.
How we rated 516 E 5th
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
516 E 5th offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·10A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
516 E 5th stands out as a premier property with an impressive array of amenities and an excellent standard of living. Residents here have access to many of the most popular and desired perks, making this one of the top choices for renters seeking unparalleled comfort and convenience.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
516 E 5th is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·9A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
516 E 5th has a few standout characteristics that set it apart from similar properties nearby. Having both verified status and features that cater to discerning renters, this is a great option for renters looking for a specific and exceptional lifestyle.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
516 E 5th provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.

516 E 5th is great for:

Social life

  • 241 restaurants within 1 mile of this property
  • Area has 44 parks and recreation options
  • 29 theaters, music venues, or sports arenas nearby
  • 87 museums, art galleries, or cultural centers within 1 mile

Wellness

  • Ample windows and natural lighting
  • 27 sports facilities (like tennis courts) nearby
  • 44 parks nearby
  • 12 health/wellness centers nearby

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How 516 E 5th compares to other nearby properties.

Positives

Outdoor space
Easy access to the outdoors

Considerations

Greater distance from grade schools
The nearest elementary school is farther than 0.4 mile away
Greater distance from high schools
The nearest high school is farther than 2 miles away

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Rent trends in North Chattanooga - Hill City - UTC

studio apartments at 516 E 5th cost about 33% less than the average rent price for studio apartments in North Chattanooga - Hill City - UTC.

Median rents as of Aug 22 2026.
North Chattanooga - Hill City - UTC
Chattanooga
A table of studio rental data trends in Chattanooga
MonthMedian Rent
September 2024$1,219
October 2024$1,220
November 2024$1,240
December 2024$1,250
January 2025$1,237
February 2025$1,228
March 2025$1,231
April 2025$1,207
May 2025$1,199
June 2025$1,198
July 2025$1,156
August 2025$1,135
September 2025$1,173
October 2025$1,194
November 2025$1,195
December 2025$1,176
January 2026$1,162
February 2026$1,156
March 2026$1,153
April 2026$1,138
May 2026$1,097
June 2026$1,105
July 2026$1,138
August 2026$1,173
A table of studio rental data trends in North Chattanooga - Hill City - UTC
MonthMedian Rent
September 2024$1,261
October 2024$1,300
November 2024$1,310
December 2024$1,321
January 2025$1,333
February 2025$1,244
March 2025$1,255
April 2025$1,202
May 2025$1,310
June 2025$1,343
July 2025$1,205
August 2025$1,100
September 2025$1,204
October 2025$1,178
November 2025$1,170
December 2025$1,123
January 2026$1,138
February 2026$1,110
March 2026$1,126
April 2026$1,243
May 2026$1,336
June 2026$1,342
July 2026$1,281
August 2026$1,274

Affordability calculator

Can I afford to live at 516 E 5th St?

Bedrooms

Studio

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$34,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $34,000 annually to afford this studio monthly rent price of $850.
For more information on rent affordability, visit our rent calculator.

Schools near 516 E 5th

Hamilton County Virtual School

3074 hickory valley rd

chattanooga, TN, 37421

K-12Public
B-
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Internet available near 516 E 5th

Neighborhood

North Chattanooga - Hill City - UTC | Chattanooga, TN

NEIGHBORHOOD VIBE
Peaceful and quiet
Noise-canceling headphones not required in this mostly noise free area.

Getting around Chattanooga near 516 E 5th St

Walking

7/10
Grab your reusable bags–many shops and stores are within walking distance.

Driving

7/10
This area is close to freeways and has adequate parking options.

Cycling

7/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.

Transit

5/10
Frequent public transit options are within walking distance.

Points of interest for 516 E 5th St, Chattanooga

Groceries

8/10
At least one grocery store within a 15-minute walk

Shopping

4/10
Some shops within walking distance

Cafes

5/10
Some cafés within walking distance

Restaurants

6/10
Variety of restaurants within walking distance

Primary schools

8/10
At least one elementary school within a 20-minute walk

High schools

8/10
At least one high school within a 20-minute walk

Nightlife

6/10
Some bars within walking distance

Explore the area around 516 E 5th St

Kitchen Spices Indian Grocery Store
7601 Stratman Cir
Publix
5928 Hixson Pke
Public Markets
302 W 6th St
Food City
1375 Broad St
K-VA-T Food Stores Inc
1375 Broad St

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This property is intended for those with income restrictions.
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