Icon Apartment Homes at Hardin Valley
1980 Icon Way,
Knoxville, TN 37932
1-3 Beds | $1,597 - $3,783
Rental Market Trends in Knoxville, TN
What is the average rent in Knoxville, TN?
$1,312/month
Average Rent
716 Sq Ft
Average Apartment Size
+0.4%
Increase in the Last Year
As of March 2025, the average rent in Knoxville, TN is $1,312 per month. This is 16% lower than the national average rent of $1,558/month, making renting in Knoxville more affordable than most cities in the US. When you rent an apartment in Knoxville, you can expect to pay about $1,099 per month for a studio, $1,312 for a one-bedroom apartment, and around $1,527 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,943 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Knoxville, TN?
In the past year, rent has increased by 0.4%, which averages out to $6 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated March 2025
Legend
2024
2025
Rent Ranges in Knoxville, TN
Last Updated March 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
19%
Below $700/month
17%
$700 - $1,000/month
33%
$1,001 - $1,500/month
23%
$1,501 - $2,000/month
8%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Knoxville?
Based on current rent prices, Uptown Knoxville, Fort Sanders and Marble City are the most affordable neighborhoods in Knoxville.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Knoxville?
Based on current rent prices, Old City, South Waterfront and The Strip are the most expensive neighborhoods in Knoxville.
Neighborhood
Average Rent
Average Sq Ft
Which Knoxville neighborhoods have the most rentals available?
The neighborhoods in Knoxville with the most apartments available are West Knoxville, North Knoxville and Downtown Knoxville .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Knoxville, TN?
Because the average rent in Knoxville is $1,312, you’ll want to make about $4,373 per month or $52,476 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Knoxville, TN is 13.0% lower than the national average. Generally, housing in Knoxville is 22.7% less expensive than the national average, with rent falling between $1,099 - $1,943. You can expect to pay 0.6% less for groceries, 11.5% less for utilities, and 10.8% less for transportation.
How does Knoxville, TN compare to other nearby cities and neighborhoods?
Use the tool below to compare Knoxville, TN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,045/month
$757/month
One Bedroom
$1,040/month
$1,629/month
Two Bedroom
$1,236/month
$2,338/month
Three Bedroom
$1,699/month
$1,736/month
Apartment communities in Knoxville we think you'll love
Property Management Companies in Knoxville, TN
Brookside Properties
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148
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24,896
Units
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56
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17 Communities in Knoxville
RAM Partners
-
286
Communities
-
74,795
Units
-
164
Cities
11 Communities in Knoxville
Dominion Development Group, LLC
-
10
Communities
-
1,780
Units
-
1
City
10 Communities in Knoxville
NAI Global
-
17
Communities
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1,685
Units
-
11
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8 Communities in Knoxville
Freeman Webb
-
85
Communities
-
15,558
Units
-
25
Cities
7 Communities in Knoxville
Highmark Residential
-
220
Communities
-
62,623
Units
-
119
Cities
4 Communities in Knoxville
Greystar
-
3,239
Communities
-
895,224
Units
-
830
Cities
3 Communities in Knoxville
Elmington Capital
-
115
Communities
-
20,723
Units
-
49
Cities
3 Communities in Knoxville
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2025.
* Percentages may not total 100 due to rounding.