There are currently 141,159 real estate properties in Knoxville, TN, with a median automated valuation model (AVM) price of $348,724.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Knoxville, TN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Knoxville, TN, is $432,360.00, with the most expensive house in Knoxville, TN, topping out at $16,727,500.00 and the cheapest home in Knoxville, TN, clocking in at $18,000.00. In other words, there’s something for every potential homebuyer or savvy investor in Knoxville, TN!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Knoxville, TN, is on a rollercoaster ride. The average rent price in Knoxville, TN, is $1,517.00. Indeed, when looking to rent in Knoxville, TN, you can expect to pay as little as $510.00 or as much as $4,140.00, with the average rent median estimated to be $1,430.00. The good news is that finding an affordable and desirable property to rent in Knoxville, TN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Knoxville is located in Knox, Tennessee, with an estimated municipal population of 187,603 residents. All of the best foreclosed homes for sale in Knoxville are located in the following zip code areas on Foreclosure.com: 37918 37912 37909 37902 37924 37920 37921 37922 37923 37919 37915 37914 37917 37916 37901 37927 37928 37929 37939 37950 37995 37996 37997. The estimated population per square kilometer (.62 miles) in Knoxville is 733.
So, about how much do homes cost in Knoxville? The most recent median value of resident-owned homes in Knoxville is 135,668. An estimated 45.9 percent of households in Knoxville own their homes, with an average family size of 2.95. The median household income in Knoxville is 40,341, with14.1 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Knoxville, the median commute time of resident workers (in minutes) is 20.5. And last, but certainly not least, are you looking for homes to rent in Knoxville? If so, the average rent price paid by renters in Knoxville is 845, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Knoxville, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Knoxville is 32.7, split between 47.9 percent male versus 52.1 female. The percentage of residents who report being married in Knoxville is 35, with an average family size of 2.95.
The percentage of residents who report their race in Knoxville is as follows:
| White | 76.1% |
| Black / African American | 17% |
| Asian | 1.8% |
| American Indian / Alaskan Native | 0.4% |
| Native Hawaiian / Other Pacifc Islander | 0.1% |
| Multi-racial | 3.1% |
| Other | 1.6% |
Looking for family-friendly neighborhoods in and/or near Knoxville? Or maybe you are searching for 55+ active adult communities in and/or near Knoxville?
The percentage of residents who report their age in Knoxville is as follows:
| Under 10 | 11.3% |
| Aged 10-19 | 11.7% |
| 20s | 22.8% |
| 30s | 13.4% |
| 40s | 10.7% |
| 50s | 11.2% |
| 60s | 9.6% |
| 70s | 5.5% |
| 80+ | 3.7% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Knoxville with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Knoxville.
How do you know that living in -- or moving to -- Knoxville is right where you need to be? Perhaps you grew up in Knoxville or already live nearby; therefore, the decision to buy a home in Knoxville is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Knoxville for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Knoxville:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Knoxville.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Knoxville can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Knoxville, meanwhile, can field multiple offers from more qualified buyers.
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