The housing market in Knoxville, TN is thriving. The median value of a house in Knoxville is $314,700, which is slightly lower than the national median value of $338,100. However, the one-year appreciation rate for homes in Knoxville is significantly higher than the national rate at 19.70%, nearly double the 8.27% average across the country. This rapid home appreciation indicates that now is a great time to invest in real estate in Knoxville and reap a high return on investment for years to come.
The median home cost in Knoxville is $314,700. Home appreciation the last 10 years has been 116.9%. Home Appreciation in Knoxville is up 24.7%.
Average Age of Homes
- The median age of Knoxville real estate is 45 years old
The Rental Market in Knoxville
- Renters make up 47.2% of the Knoxville population
- 3.1% of houses and apartments in Knoxville, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.