Knoxville multifamily market, October 2026

Neither side has the edge in Knoxville, and it is holding steady: asking rents are up 0.7% on a year, while jobs grew 0.2%.

Updated October 31, 2026 · from Zillow, BLS and the US Census Bureau

+0.7%

Asking rent, year over year

Zillow · September 2026

+0.2%

Jobs, year over year

BLS · September 2026, preliminary

5.5%YEARLY

Vacancy

Census · 2024 count

What is moving now

Asking rents are up 0.7% on a year to September 2026, which is the figure the condition is read from. Jobs are up 0.2% over the same year to September 2026, a first release the BLS revises the following month. Nothing is pulling hard either way in the latest figures (September 2026).

The backdrop

These are yearly Census counts, not this month's: 5.5% of rentals sat empty in 2024, permits for new apartments were up 36% in 2025, more people moved in than out in 2025, and the typical rent was $1,219 a month in 2024. They are the background the monthly figures move against, and they are the newest the Census has published.

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Common questions about Knoxville

Answered from the data, updated October 31, 2026

Is the Knoxville rental market tight or soft right now?

In Knoxville right now, neither side has a clear edge, and it is stable.

Which way is the Knoxville market heading?

Knoxville is stable right now, as asking rents firm over the past year (Zillow ZORI, monthly).

Is Knoxville a landlord's or a renter's market?

Knoxville is a balanced market right now, with neither side holding a clear edge.

What is the vacancy rate in Knoxville?

Vacancy in Knoxville is 5.5% in the 2024 count, a yearly snapshot rather than a monthly reading (US Census Bureau).

How much have Knoxville rents changed?

Asking rents in Knoxville are up 0.7% over the past year (Zillow ZORI, monthly, latest Sep 2026).

Recent coverage

Daily, from the MetroSgnl news feed. Headlines only.

New West Knoxville development to add 100 units of affordable housingWBIR

New affordable housing now open in North KnoxvilleWATE 6 On Your Side

Knoxville adds 98 affordable housing units as demand continues to growWATE 6 On Your Side

Hamilton Zanze Acquires 300-Unit Multifamily Community in Knoxville, Tennessee Marketcitybiz

City Council to invest $750K in West Knoxville affordable housing projectWBIR

Knoxville City Council OKs $750k for affordable housing, $5M for capital upgradesWATE 6 On Your Side

See all Knoxville news →

Data: Zillow ZORI, BLS, US Census Bureau, FRED, and the MetroSgnl news feed. Recomputed daily. Market information only, not investment advice.
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