Department of Numbers

Knox County Tennessee Residential Rent and Rental Statistics

The median monthly gross residential rent in Knox County TN was $880 in 2017 according to the Census ACS survey.1 Average gross rent in Knox County was $865 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Knox County median and average rent data will be released in September of 2019.

Data is also available below for Knox County rental vacancy rates, Knox County rent as a percent of median income and the fraction of renters in Knox County.

Show dollars as: Nominal Real

Real Gross Rent in Knox County Tennessee (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Tennessee Median Gross Rent $833 +1.71% +5.71%
Knox County TN Median Gross Rent $880 +6.28% +8.78%

Knox County TN Real Gross Rent Trends

At $880, real median gross rent in Knox County was at its highest level in 2017 since the series began in 2005. At $865, real average gross rent in Knox County was at its highest level in 2017 since the series began in 2005.

Real Gross Rent: Knox County TN Median, Knox County TN Average, Tennessee Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Knox County

Date US
Median
Tennessee
Median
Knox County TN
Median
Knox County TN
Average
2017 $1,012 $833 $880 $865
2016 $996 $819 $828 $825
2015 $987 $808 $828 $821
2014 $956 $788 $809 $793
2013 $924 $764 $813 $788
2012 $912 $753 $788 $792
2011 $912 $749 $776 $745
2010 $927 $755 $764 $741
2009 $931 $754 $762 $758
2008 $947 $758 $764 $731
2007 $899 $722 $761 $726
2006 $909 $730 $728 $693

Knox County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Knox County Tennessee was 5.40% according to Census ACS data.

Rental Vacancy Rate in Knox County Tennessee

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Tennessee 6.67% -0.01% -0.57%
Knox County TN 5.40% +0.93% -1.67%

Trends in Knox County TN Rental Vacancy Rate

The rental vacancy rate in Knox County peaked in 2006 at 9.60%. Since then it has fallen by 4.20% to 5.40%. Data records for this series originated in 2005. From a 2008 post peak low of 4.37%, the rental vacancy rate has increased by 1.03%.

Rental Vacancy Rate: Knox County TN, Tennessee, US

Rental vacancy rate in Tennessee

Historical Rental Vacancy Rate data for Knox County

Date US Tennessee Knox County TN
2017 6.18% 6.67% 5.40%
2016 5.89% 6.68% 4.47%
2015 5.85% 7.13% 6.37%
2014 6.32% 7.24% 7.07%
2013 6.49% 7.86% 4.66%
2012 6.77% 7.89% 4.39%
2011 7.40% 8.54% 5.92%
2010 8.17% 10.33% 5.58%
2009 8.43% 10.52% 6.10%
2008 7.86% 10.30% 4.37%
2007 7.87% 9.20% 4.47%
2006 7.70% 9.61% 9.60%

Rent as a Fraction of Income

Using median household income data for Knox County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Knox County, median monthly gross rent as a fraction of median household income was 19.11% in 2017 according to the ACS.

Knox County Tennessee Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Tennessee 19.47% -0.45% -1.36%
Knox County TN 19.11% +0.34% -1.12%

Trends in Knox County TN Rent as a Fraction of Income

The fraction of median Knox County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.23%. Since then it has fallen by 1.12% to 19.11%.

Fraction of Income towards Rent: Knox County TN, Tennessee, US

Percent of median household income going towards median monthly gross rent in Knox County Tennessee

Historical Data for Annual Rent as a Fraction of Income in Knox County Tennessee

Date US Tennessee Knox County TN
2017 20.13% 19.47% 19.11%
2016 20.43% 19.92% 18.77%
2015 20.63% 19.93% 18.50%
2014 20.89% 20.83% 20.23%
2013 20.78% 20.26% 19.43%
2012 20.65% 20.48% 19.85%
2011 20.70% 20.58% 19.95%
2010 20.50% 20.17% 19.40%
2009 20.12% 19.61% 18.23%
2008 19.00% 18.16% 17.47%
2007 18.66% 17.96% 17.83%
2006 18.90% 18.25% 16.59%

Renter Fraction in Knox County Tennessee

You can calculate the renter fraction in Knox County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Knox County as a fraction of total Knox County households. In 2017 36.16% of households were renters according to Census ACS data.

Knox County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Tennessee 34.57% -0.34% +0.71%
Knox County TN 36.16% -0.46% +0.91%

Trends in the Knox County TN Renter Fraction

The Knox County household renter fraction peaked in in 2013 at 37.25% and is now 1.09% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Knox County TN, Tennessee, US

Fraction of renters in Knox County

History of Knox County Renter Fraction

Date US Tennessee Knox County TN
2017 36.13% 34.57% 36.16%
2016 36.88% 34.91% 36.62%
2015 36.97% 34.18% 35.95%
2014 36.90% 33.86% 35.25%
2013 36.50% 33.62% 37.25%
2012 36.09% 33.31% 36.39%
2011 35.42% 32.72% 36.11%
2010 34.65% 31.87% 33.72%
2009 34.13% 30.85% 32.16%
2008 33.36% 30.17% 33.02%
2007 32.80% 30.06% 32.22%
2006 32.73% 30.10% 32.53%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.