Home Values in Knoxville, Tennessee — 2026 Market Report
Updated March 2026 | Seller's Market | +6.7% YoY
The median home value in Knoxville, Tennessee is $255,000 as of March 2026, which is below the national median of $400,000. Home values in Knoxville have increased by 6.7% over the past year and 38.3% over the last five years. With a population of 190,740 and a median household income of $41,753, the price-to-income ratio stands at 6.1x, making Knoxville affordable for the average household.
Knoxville Housing Market Conditions
| Metric | Knoxville | National Avg |
|---|---|---|
| Median Home Value | $255,000 | $400,000 |
| YoY Appreciation | +6.7% | +3.8% |
| 5-Year Appreciation | +38.3% | +22.4% |
| Price per Sq Ft | $96 | $222 |
| Days on Market | 31 days | 45 days |
| Months of Supply | 2 | 3.5 |
| List-to-Sale Ratio | 101.7% | 98.5% |
| Monthly Homes Sold | 127 | — |
| Foreclosure Rate | 0.18% | 0.3% |
Home Value Trends in Knoxville
A homeowner who purchased at the median price of $184,382 five years ago in Knoxville would have gained approximately $70,618 in equity, representing a 38.3% return on investment. Over the past year alone, the typical homeowner gained $16,012 in home equity.
Affordability in Knoxville, TN
With a median household income of $41,753 and a median home price of $255,000, the price-to-income ratio in Knoxville is 6.1x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $1,987 compared to estimated monthly ownership costs of $1,351 gives a rent-vs-buy ratio of 0.68. In Knoxville, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Knoxville
The effective property tax rate in Tennessee is 0.66%. On a home valued at $255,000, the estimated annual property tax bill is $1,683, or approximately $140/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Knoxville is 87.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Knoxville, TN?
The median home value in Knoxville, Tennessee is $255,000 as of March 2026. Home values have changed +6.7% over the past year, with a 5-year appreciation of 38.3%.
Is Knoxville a buyer's or seller's market?
Knoxville is currently a seller's market with 2 months of housing supply. Homes spend an average of 31 days on market, and the list-to-sale price ratio is 101.7%. Low inventory gives sellers an advantage.
Are home values going up in Knoxville?
Yes, home values in Knoxville have increased by 6.7% over the past year. The 5-year appreciation rate is 38.3%, meaning a home worth $184,382 five years ago is now worth $255,000.
Is it better to rent or buy in Knoxville?
The average monthly rent in Knoxville is $1,987, while estimated monthly homeownership costs are approximately $1,351. The price-to-rent ratio is 10.7. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other Tennessee Cities
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Disclaimer: Home value data for Knoxville, Tennessee is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.