Knoxville:
January Rent Report

Welcome to the January 2020 Knoxville Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the January 2020 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 December to January

Knoxville rent prices increased over the last month. From December to January, the city experienced a 5.41% increase for the price of a one-bedroom apartment. The rent price for a Knoxville one-bedroom apartments currently stands at $896.

When we take a look at the two-bedroom comparison from December to January, Knoxville experienced a 8.82% increase for the price of a two-bedroom apartment. The rent price for a Knoxville two-bedroom apartments currently stands at $1,246.

January Prices: Knoxville vs. Surrounding Areas

Rent Prices in Knoxville and Surrounding Areas

Rent prices have increased 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 0 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:

  • Rents did not increase in any of the Knoxville suburbs

  • Rent decreased in Lenior City, TN.

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

January 2020 Pricing Trends: Knoxville vs. National Comparisons

Knoxville Rent Prices More Affordable Than Major Cities

Rent growth in Knoxville over the past year has been on the rise. 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 January 2020 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 January 1 BR M/M % Change 2 BR January 2 BR M/M % Change
Knoxville, TN $850 4.55% $1,145 8.22%
Lenior City, TN $994 0.00% $1,123 -0.53%

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.