Quick facts: Knoxville, TN

Quick Facts

95.0
Cost of Living
below US average
195,889
Population
47.22
Crime Rate per 1000
above US average
$48,309
Median Income
below US average
$629,500
Median House Price
above US average
$3190.0
Average Rent
above US average
15%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $48,309.

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Income Needed to Buy

βœ— Stretch
$197k/year
Based on $629,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $197k vs median $48,309
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Income Needed to Rent

⚠ Stretch
$137k/year
Based on $3190.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $137k vs median $48,309
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Knoxville, TN

Knoxville, located in Eastern Tennessee, is a vibrant city known for its rich history, diverse culture, and scenic beauty. Founded in 1791, it served as the first capital of Tennessee and has since evolved into a lively urban center. Nestled near the Great Smoky Mountains, Knoxville offers residents and visitors access to stunning outdoor activities, including hiking, biking, and water sports on the Tennessee River. The city boasts a strong arts scene, with numerous galleries, theaters, and annual events like the Knoxville Film Festival. The Tennessee Valley Fair and the Dogwood Arts Festival celebrate local crafts, food, and traditions, attracting tourists year-round. Education plays a significant role in Knoxville, home to the University of Tennessee, which contributes to the city's youthful atmosphere and innovation. The downtown area features a mix of historic architecture and modern developments, with a variety of dining, shopping, and entertainment options. Knoxville is also known for its friendly community vibe, making it an appealing place to live. With a comparatively low cost of living and a range of neighborhoods, it offers a quality lifestyle amidst its cultural and natural attractions.

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