Knoxville, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Knoxville Neighborhoods Since 2000




Knoxville, TN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Knoxville Housing Market Information

With 185,291 people, 81,073 houses or apartments, and a median cost of homes of $130,850, house prices in Knoxville are solidly below the national average.

Single-family detached homes are the single most common housing type in Knoxville, accounting for 55.03% of the city's housing units. Other types of housing that are prevalent in Knoxville include large apartment complexes or high rise apartments ( 31.02%), duplexes, homes converted to apartments or other small apartment buildings ( 7.57%), and a few row houses and other attached homes ( 5.12%).

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.

There is a lot of housing in Knoxville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Knoxville built between 1940-1969 ( 36.52%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.87%). There's also some housing in Knoxville built before 1939 ( 10.20%).

Knoxville Home Appreciation Rates

Appreciation rates for homes in Knoxville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.66%, which ranks in the top 40% nationwide. This equates to an annual average Knoxville house appreciation rate of 0.55%.

NeighborhoodScout's data show that during the latest twelve months, Knoxville's appreciation rate, at 5.32%, has been at or slightly above the national average. In the latest quarter, Knoxville's appreciation rate has been 0.56%, which annualizes to a rate of 2.26%.

Relative to Tennessee, our data show that Knoxville's latest annual appreciation rate is higher than 70% 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 2000, to assist you in making the best Knoxville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$130,850

Knoxville, TN HOME PRICES

Value Range
> $1,112,000 0.4
$834,001 - $1,112,000 0.7
$557,001 - $834,000 1.6
$445,001 - $557,000 1.5
$334,001 - $445,000 4.2
$222,001 - $334,000 10.1
$111,001 - $222,000 40.6
$56,001 - $111,000 32.7
$0 - $56,000 8.0

Average for TN
Average for Nation

Value Relative to Nation Value Relative to State
59.3988046408063 43.1122448979592

Number Of Homes And Apartments:
81,073

Knoxville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
43.25% 2.11% 7 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$993 / per month

Homeownership Rate

Homeownership
Owners 44.21
Renters 55.79
Vacant 9.87

Housing Market Details

 

Age of Homes

AGE OF Knoxville HOMES
2000 or Newer 10.9
1970 - 1999 42.4
1940 - 1969 36.5
1939 or Older 10.2

Types of Homes

TYPE OF Knoxville HOMES
Single-Family 55.0
Townhomes 5.1
Small Apt. Buildings 7.6
Apt. Complexes 31.0
Mobile Homes 1.2
Other 0.1

Home Size

SIZE OF Knoxville HOMES
No Bedroom 2.96
1 Bedroom 16.50
2 Bedrooms 37.49
3 Bedrooms 33.08
4 Bedrooms 8.12
5 or more bedrooms 1.85