Knoxville:
May Rent Report

Welcome to the May 2019 Knoxville Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the May 2019 key findings and figures for the Knoxville rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Knoxville and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Knoxville rent prices in the chart below.

Monthly Rent Report

Knoxville Rent Prices Decreased From April to May

Knoxville rent prices decreased over the last month. From April to May, the city experienced a -0.12% decrease for the price of a one-bedroom apartment. The rent price for a Knoxville one-bedroom apartments currently stands at $820.

When we take a look at the two-bedroom comparison from April to May, Knoxville experienced a -0.48% decrease for the price of a two-bedroom apartment. The rent price for a Knoxville two-bedroom apartments currently stands at $1,040.

May Prices: Knoxville vs. Surrounding Areas

Rent Prices in Knoxville and Surrounding Areas

Rent prices have decreased in Knoxville over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 2 of the Knoxville suburbs increased last month. On the other hand, 1 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Maryville, TN, Oak Ridge, TN .

  • Rent decreased in Pigeon Forge, TN.

  • 1 suburb is currently priced higher than the city of Knoxville.

  • 2 suburbs are currently priced lower than the city of Knoxville.

May 2019 Pricing Trends: Knoxville vs. National Comparisons

Knoxville Rent Prices More Affordable Than Major Cities

Rent growth in Knoxville over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Knoxville rent prices appear to be relatively affordable for local residents.

The price for a Knoxville one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of ABODO's May 2019 National Apartment Report and data set here.

For more information about Knoxville and surrounding area rent prices, take a look at the complete data set below.

Data set for Knoxville and suburbs

1 BR May 1 BR M/M % Change 2 BR May 2 BR M/M % Change
Knoxville, TN $821 0.00% $1,045 -1.42%
Maryville, TN $708 0.43% $896 2.99%
Pigeon Forge, TN $800 0.00% $1,100 0.00%
Oak Ridge, TN $1,911 11.95% $716 -1.51%

Methodology

Each month, using over 1 million ABODO listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.