11 Cheap Apartments for rent in Knoxville, TN

Last updated July 18 at 5:03pm UTC
813 S. Everett High Road
Maryville
Maryville, TN
Updated July 17 at 9:27am UTC
2 Bedrooms
$675
157 S. Magnolia St.
Maryville
Maryville, TN
Updated June 23 at 11:31am UTC
1 Bedroom
$600
715 S. Court St.
Maryville
Maryville, TN
Updated June 19 at 9:19am UTC
Studio
$550
3224 Frazier Rd
Knoxville
Knoxville, TN
Updated July 16 at 1:16am UTC
1 Bedroom
$595
1700 W Clinch Av #616
Fort Sanders
Knoxville, TN
Updated July 14 at 9:36am UTC
Studio
$650
Results within 10 miles of Knoxville, TN
1901 E 5th Ave
Parkridge
Knoxville, TN
Updated July 4 at 9:17am UTC
Studio
$495
406 Watauga Dr
Fountain City
Knoxville, TN
Updated July 3 at 7:24pm UTC
1 Bedroom
$550
1901 E 5th Ave
Parkridge
Knoxville, TN
Updated July 3 at 7:24pm UTC
2 Bedrooms
$625

July 2018 Knoxville Rent Report

Welcome to the July 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 cities throughout the state and nation.

View full Knoxville Rent Report
Rent Report
Knoxville

July 2018 Knoxville Rent Report

Welcome to the July 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 cities throughout the state and nation.

Knoxville rents increased moderately over the past month

Knoxville rents have increased 0.3% over the past month, and have increased significantly by 4.3% in comparison to the same time last year. Currently, median rents in Knoxville stand at $780 for a one-bedroom apartment and $950 for a two-bedroom. This is the eighth 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 1.4%.

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, all of them have seen prices rise. The state as a whole logged rent growth of 1.4% 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 $1,300; of the 10 largest Tennessee cities that we have data for, all have seen rents rise year-over-year, with Smyrna experiencing the fastest growth (+4.4%).
  • Hendersonville, Knoxville, and Murfreesboro have all experienced year-over-year growth above the state average (4.4%, 4.3%, and 3.5%, respectively).

Knoxville rents more affordable than many large cities nationwide

As rents have increased significantly in Knoxville, large cities nationwide have seen rents grow more modestly, or in some cases, even decline. Knoxville is still more affordable than most large cities across the country.

  • Knoxville's median two-bedroom rent of $950 is below the national average of $1,180. Nationwide, rents have grown by 1.4% over the past year compared to the 4.3% increase in Knoxville.
  • While Knoxville's rents rose significantly over the past year, some cities nationwide saw decreases, including Seattle (-2.0%) and Minneapolis (-0.1%).
  • Renters will find more reasonable prices in Knoxville than most large cities. For example, San Francisco has a median 2BR rent of $3,070, 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.