9 Cheap Apartments for rent in Knoxville, TN

Last updated May 27 at 3:54am UTC
1700 W Clinch #503
Fort Sanders
Knoxville, TN
Updated May 26 at 9:51am UTC
Studio
$550
1901 E 5th Ave
Parkridge
Knoxville, TN
Updated May 3 at 1:56am UTC
2 Bedrooms
$625
1901 E 5th Ave
Parkridge
Knoxville, TN
Updated May 24 at 10:09pm UTC
Studio
$495
406 Watauga Dr
Fountain City
Knoxville, TN
Updated May 14 at 5:52pm UTC
1 Bedroom
$550
1800 Linden Ave.
Knoxville
Knoxville, TN
Updated May 5 at 10:10am UTC
1 Bedroom
$100
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May 2018 Knoxville Rent Report

Welcome to the May 2018 Knoxville Rent Report. Knoxville rents increased over the past month. In this report, we'll evaluate trends in the Knoxville rental market, including comparisons to similar cities nationwide.

View full Knoxville Rent Report
Rent Report
Knoxville

May 2018 Knoxville Rent Report

Welcome to the May 2018 Knoxville Rent Report. Knoxville rents increased over the past month. In this report, we'll evaluate trends in the Knoxville rental market, including comparisons to similar cities nationwide.

Knoxville rents increased significantly over the past month

Knoxville rents have increased 0.5% over the past month, and are up significantly by 4.6% in comparison to the same time last year. Currently, median rents in Knoxville stand at $770 for a one-bedroom apartment and $940 for a two-bedroom. This is the sixth straight month that the city has seen rent increases after a decline in October of last year. Knoxville's year-over-year rent growth leads the state and national averages, which both stand at 1.5%.

Knoxville rents more affordable than many large cities nationwide

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

  • Knoxville's median two-bedroom rent of $940 is below the national average of $1,170. Nationwide, rents have grown by 1.5% over the past year compared to the 4.6% rise in Knoxville.
  • While Knoxville's rents rose significantly over the past year, many cities nationwide also saw increases, including Phoenix (+2.3%), Atlanta (+1.9%), and Denver (+1.6%).
  • Renters will find more reasonable prices in Knoxville than most large cities. For example, San Francisco has a median 2BR rent of $3,060, 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.