Knoxville appreciation rates and housing market information

Knoxville housing market information

With 173,680 people, 84,897 houses or apartments, and a median cost of homes of $141,671, Knoxville real estate and house prices are near the national average for all cities and towns.

single-family detached homes are the single most common housing type in Knoxville, accounting for 55.83% of the city's housing units. Other types of housing that are prevalent in Knoxville include large apartment complexes or high rise apartments (30.88%), duplexes, homes converted to apartments, or other small apartment buildings (8.75%), row houses and other attached homes (3.25%), and a few mobile homes or trailers (1.28%).

People in Knoxville primarily live in small (one, two, or no bedroom) single-family detached homes. Knoxville has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Knoxville's housing was primarily built during this period, from the '40s through the '60s. A full 47.09% of the city's housing hails from this era. Other housing ages represented in Knoxville include homes built between 1970-1994 (33.20%), and housing constructed from 1939 and earlier (12.87%). There's also some housing in Knoxville built between 1995 and later (6.84%).

Knoxville home appreciation rates

Real estate appreciation rates in Knoxville have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.44% during the period.

NeighborhoodScout's data show that during the latest twelve months, Knoxville home appreciation rates, at 1.59%, have been at or slightly above the national average. In the latest quarter, Knoxville's appreciation rate has been 0.75%, which annualizes to a rate of 3.00%.

Relative to Tennessee, our data show that Knoxville's latest annual appreciation rate is higher than 19% of the other cities and towns in Tennessee.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Knoxville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Knoxville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Knoxville real estate investment or home purchase decisions.