14 Cheap Apartments for rent in Knoxville, TN

Last updated January 19 at 6:15am UTC
510 14th St #407
Fort Sanders
Knoxville, TN
Updated January 3 at 3:34pm UTC
1 Bedroom
$675
1908 Connecticut Ave
Lonsdale
Knoxville, TN
Updated January 5 at 2:24am UTC
2 Bedrooms
$650
510 14th St #504
Fort Sanders
Knoxville, TN
Updated January 3 at 3:34pm UTC
1 Bedroom
$650
510 14th St #505
Fort Sanders
Knoxville, TN
Updated January 3 at 3:34pm UTC
1 Bedroom
$680
1700 W Clinch Av #619
Fort Sanders
Knoxville, TN
Updated January 18 at 8:02pm UTC
Studio
$640
4225 Iona Way
Inskip
Knoxville, TN
Updated January 11 at 12:02pm UTC
1 Bedroom
$650
510 14th St #502
Fort Sanders
Knoxville, TN
Updated January 3 at 3:34pm UTC
1 Bedroom
$625
134 E Churchwell Ave
Oakwood
Knoxville, TN
Updated January 18 at 10:15am UTC
1 Bedroom
$550
510 14th St #308
Fort Sanders
Knoxville, TN
Updated January 3 at 3:34pm UTC
1 Bedroom
$675
510 14th St #508
Fort Sanders
Knoxville, TN
Updated January 3 at 3:34pm UTC
1 Bedroom
$599
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January 2018 Knoxville Rent Report

Welcome to the January 2018 Knoxville Rent Report. Knoxville rents remained steady over the past month. In this report, we'll evaluate trends in the Knoxville rental market, including comparisons to cities throughout the state and nation.

View full Knoxville Rent Report
Rent Report
Knoxville

January 2018 Knoxville Rent Report

Welcome to the January 2018 Knoxville Rent Report. Knoxville rents remained steady over the past month. In this report, we'll evaluate trends in the Knoxville rental market, including comparisons to cities throughout the state and nation.

Knoxville rents held steady over the past month

Knoxville rents have remained flat over the past month, however, they are up moderately by 3.6% year-over-year. Currently, median rents in Knoxville stand at $750 for a one-bedroom apartment and $930 for a two-bedroom. Knoxville's year-over-year rent growth leads the state average of 1.7%, as well as the national average of 2.8%.

Rents rising across cities in Tennessee

Throughout the past year, rent increases have been occurring not just in the city of Knoxville, but across the entire state. Of the largest 10 cities that we have data for in Tennessee, 7 of them have seen prices rise. The state as a whole logged rent growth of 1.7% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Franklin is the most expensive of all Tennessee's major cities, with a median two-bedroom rent of $1,260; of the 10 largest cities in Tennessee that we have data for, Nashville, Collierville, and Franklin, where two-bedrooms go for $1,110, $1,100, and $1,260, respectively, are the three major cities in the state to see rents fall year-over-year (-0.1%, -0.1%, and -0.1%).
  • Murfreesboro, Knoxville, and Hendersonville have all experienced year-over-year growth above the state average (6.2%, 3.6%, and 3.2%, respectively).

Knoxville rents more affordable than many large cities nationwide

As rents have increased moderately in Knoxville, a few large cities nationwide have also seen rents grow modestly. Knoxville is still more affordable than most large cities across the country.

  • Knoxville's median two-bedroom rent of $930 is below the national average of $1,160. Nationwide, rents have grown by 2.8% over the past year compared to the 3.6% rise in Knoxville.
  • While Knoxville's rents rose moderately over the past year, many cities nationwide also saw increases, including Phoenix (+3.8%), Seattle (+3.0%), and Dallas (+2.2%).
  • Renters will find more reasonable prices in Knoxville than most large cities. For example, San Francisco has a median 2BR rent of $3,010, which is more than three times the price in Knoxville.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.