Median rents, rental comps, and market trends across 10 zip codes in Knoxville, TN.
University of Tennessee fills the apartments and Oak Ridge National Lab fills them with people who have security clearances. No state income tax and affordable entry — solid rental market fundamentals without the hype.
Median Asking Rent
$1,570
Rent Change (YoY)
-12.7%
Avg Days on Market
51
Active Rental Listings
791
Median List Price
$364,950
Average across 10 zip codes
ZIP | Median Rent |
|---|---|
| 37902 | $2,600/mo |
| 37909 | $1,850/mo |
| 37919 | $1,700/mo |
| 37916 | $1,600/mo |
| 37914 | $1,599/mo |
| 37915 | $1,550/mo |
| 37920 | $1,550/mo |
| 37917 | $1,500/mo |
| 37918 | $1,500/mo |
| 37912 | $1,095/mo |
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| Unit Size | Median Rent |
|---|---|
| Studio | $1,304/mo |
| 1 Bedroom | $1,148/mo |
| 2 Bedroom | $1,500/mo |
| 3 Bedroom | $2,000/mo |
| 4 Bedroom | $2,295/mo |
Aggregated median across all Knoxville zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 37902 | $875,000 |
| 37919 | $650,000 |
| 37916 | $475,000 |
| 37915 | $399,900 |
| 37920 | $365,000 |
| 37909 | $364,900 |
| 37918 | $350,000 |
| 37912 | $309,900 |
| 37917 | $299,000 |
| 37914 | $287,400 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $1,470/mo |
| 1 Bedroom | $1,480/mo |
| 2 Bedroom | $1,840/mo |
| 3 Bedroom | $2,330/mo |
| 4 Bedroom | $2,720/mo |
Fair Market Rents are published annually by HUD for the Knoxville metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across Knoxville, TN is currently $1,570/month, based on active rental listings across 10 zip codes. Median asking rents have decreased by -12.7% over the past 12 months.
Asking rents vary significantly across the city. ZIP 37902 has the highest median asking rent at $2,600/month, while ZIP 37912 comes in at $1,095/month.
Rental listings in the area spend an average of 51 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the Knoxville metro area is $1,840/month. Current median asking rents are near or below the FMR for this area.
Knoxville is a solid small-market play anchored by the University of Tennessee and Oak Ridge National Laboratory. UT brings 30,000+ students who need housing, and Oak Ridge brings well-paid government and research employees. No state income tax in Tennessee. Downtown, the Old City, and the Fort Sanders area near campus are premium. South Knoxville and the areas east of town are more affordable. It's not a flashy market, but the demand drivers are stable and the entry points are reasonable. For investors, Knoxville works best if you understand the student rental cycle and can price accordingly — the demand is seasonal and the tenant profile is different than a typical working professional market.
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Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
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