Mortgage payment estimates, closing cost breakdowns, and homebuying data for Knoxville, Tennessee.
Pre-filled with Knoxville median home price and Tennessee tax/insurance rates. Adjust for your property.
Estimated closing costs based on Tennessee rates and fees applied to Knoxville prices.
The median home price in Knoxville is $315,000, 7% below the Tennessee state median of $340,000. With a population of 190,740, Knoxville is a mid-size city where home prices tend to be more accessible than in many parts of Tennessee.
Property taxes in Tennessee average 0.56% annually. This low property tax rate is a significant advantage for Knoxville buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Tennessee runs approximately $2,400 per year. This is within the normal range nationally.
Average rent in Knoxville is $1,320/month. The price-to-rent ratio in Knoxville is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Knoxville presents moderate affordability. The $315K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.