Knoxville, TN Rental Market
Knoxville is a fast-growing mid-size city anchored by the University of Tennessee and Oak Ridge National Laboratory, one of the Department of Energy's premier research facilities. The combination of student enrollment, research employment, and growing healthcare and technology sectors supports a diverse and resilient rental market. Knoxville's proximity to the Great Smoky Mountains also draws tourism and remote workers seeking outdoor-lifestyle communities.
Get a rent estimate for an address in KnoxvilleAverage Rent in Knoxville, TN
$1,280
per month · 2026-06
Market Score
Key Facts — Knoxville, TN Rental Market
- Average rent in Knoxville, TN:$1,280/mo
- Median rent:$1,178/mo
- Rent range:$625 – $2,800/mo
- Most common rental (2 bedrooms):$1,125/mo
- Active listings:1,100
- Avg days to lease:29 days
- Year-over-year change:+3.8%
- Median home value:$240,000
- Est. gross annual yield:6.4%
- Data as of:2026-06
Rent by Bedroom in Knoxville, TN
Average monthly rent for each bedroom type based on current active listings in Knoxville.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $925/mo |
2 Bedrooms | $1,125/mo |
3 Bedrooms | $1,425/mo |
4 Bedrooms | $1,775/mo |
5 Bedrooms | $2,025/mo |
Knoxville Rental Market Statistics
Key indicators from the current Knoxville, TN rental market.
1,100
Available now in Knoxville
29
From list to lease
$0.98
Average across listings
1,300 sq ft
Typical rental size
$625 – $2,800
Min to max active listings
+3.8%
Avg rent vs. prior year
Investing in Knoxville, TN Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$240,000
Typical purchase price in Knoxville
Est. Gross Annual Yield
6.4%
Before expenses & vacancy
Avg Monthly Income
$1,280
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Knoxville for a full cash-flow breakdown including all costs.
Knoxville, TN Rental Market FAQ
Common questions about renting and investing in Knoxville, TN.
What is the average rent in Knoxville, TN?
The average rent in Knoxville, TN is $1,280 per month as of 2026. One-bedroom apartments average $925/mo, two-bedrooms $1,125/mo, and three-bedroom homes $1,425/mo. Rents near the University of Tennessee campus and downtown Market Square are above average, while suburban areas like Farragut offer larger homes at comparable prices.
Is Knoxville, TN a good place to invest in rental property?
Knoxville offers a solid 6.4% estimated gross annual yield with above-average 3.8% year-over-year rent growth. The University of Tennessee and Oak Ridge National Lab provide consistent institutional demand, while growing private sector employment in healthcare and tech diversifies the tenant base beyond students.
How does the University of Tennessee affect the Knoxville rental market?
UT Knoxville enrolls over 33,000 students, generating strong off-campus demand in neighborhoods like Fort Sanders and South Knoxville. The university also employs thousands of faculty and staff who seek longer-term housing. Student demand creates a reliable annual leasing cycle, with peak absorption each spring for fall-semester occupancy.
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