Cost of Living in Knoxville, Tennessee
In Knoxville, the median household income is $54,039 and the median gross rent is $1,191/mo, with a median home value of $239,700. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $54,039
- Median gross rent
- $1,191/mo
- Median home value
- $239,700
- Population
- 195,185
How Knoxville compares to the Tennessee average
| Measure | Knoxville, TN | Tennessee statewide | Difference |
|---|---|---|---|
| Median household income | $54,039 | $69,595 | -22.4% |
| Median gross rent (monthly) | $1,191 | $1,189 | +0.2% |
| Median home value | $239,700 | $286,700 | -16.4% |
Statewide, Tennessee prices average 91.9 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Knoxville
- Salary needed for median rent
- $47,640
- Rent burden at median income
- 26.4%
- Est. affordable home price
- $197,131
So that $1,191/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Knoxville is $239,700 — +21.6% above what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other Tennessee cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.