Cost of Living in Knoxville, TN 2023

Tucked away in the Appalachian Mountains region, Knoxville is a Tennessee enclave with rich music history. It’s not uncommon to hear folk and bluegrass ringing through the city’s streets.

Residents of Knoxville speak with an endearing twang that you’ll try to adopt when you set roots down in the city. Knoxville’s mix of a Southern and Midwest charm entices more folks to take the leap and call the city home.

If you want to count yourself among Knoxville’s newest residents, we’ve got you covered. Here’s a look at the cost of living in Knoxville from rent prices to taxes and everything in between.

Knoxville Housing Costs

When it comes to assessing the cost of living, the big question is usually: “Is this city affordable?”

Fortunately, renters making the move to Knoxville shouldn’t worry, as it’s known for being an affordable city.

According to our rent report, here’s a breakdown of the average rent prices in Knoxville.

The average rent for a Knoxville one-bedroom apartment is $1,069. The average rent for a two-bedroom apartment is $1,343.

Now that you know what to expect from rent prices in Knoxville, you might be interested in some of Knoxville’s rent trends. Knowing Knoxville’s rent data trends can help you make an informed financial decision before making your move.

Rents in Knoxville have increased by 8.2% when compared to the same time last year. This increase is more than double the national average year-over-year rent growth of 4%.

Knoxville still isn't terribly expensive for what it offers, but there are still cities that are cheaper. For example, the average rent for a one-bedroom apartment in Detroit is $653.

It’s always possible to save on rent, regardless of where you live. Because Knoxville is home to the University of Tennessee campus, you’ll find rooming with others is quite common. So, set yourself up with a quality roommate to save big by splitting rent with your roommate.

Finding the Best Knoxville Apartment for You

If you're uncertain about a neighborhood, consider a month-to-month apartment before making a long-term 12 month commitment. If it's your first time renting or if you don't have a high credit score, consider no credit check apartments. Lastly, if you prefer to rent from the owner of an apartment and have a more personal relationship with them rather than property managers, consider a for rent by owner apartment.

Knoxville Transportation

According to data from MIT’s Living Wage Calculator, the average single and working Knoxville resident spends $5,509 annually or about $459.08 monthly on transportation costs.

A family of four with two working adults and two children will spend $15,012 or $1,251 monthly on transportation costs.

These costs are largely associated with owning and maintaining one or more personal vehicles. For individuals who favor penny-pinching, car ownership may seem like an unnecessary expense.

However, getting rid of your car in Knoxville is a decision that you will most likely come to regret.

Knoxville has a 31 walk score, a 27 transit score, and a 30 bike score, so getting around in a car is just about your only option in the city.

For the enterprising soul who likes a challenge, using public transportation comes with drastic cost savings. The cost for twelve 30-day public transportation passes in Knoxville is a low $360 annually.

However, we don’t recommend it, especially considering that Knoxville’s public transportation system is currently dealing with a driver shortage, meaning buses are operating at reduced service levels.

Knoxville Food Costs

A single Knoxville resident spends an average of $3,351 annually or about $279.25 monthly on groceries.

For a family of four, the grocery costs in Knoxville increase to $9,856 or around $821.33 monthly.

However, these numbers only reflect those steadfast souls who plan on cooking every single meal in the house for a year and giving up on snacking.

If you want to enjoy a meal out in one of Knoxville’s many restaurants, you’ll need to modify your food budget line item to be a little more generous.

That said, Knoxville food is relatively affordable. So, it should be safe to start with your current monthly food budget before modifying it once you’ve gotten settled in Knoxville.

Knoxville Healthcare Costs

If you have a decent employer-sponsored health insurance plan, then you’re in luck, as you’re likely covered in the event of a medical emergency and for routine care.

If you’re a family of four in Knoxville, you can expect your average medical expenses to total $2,603 annually or around $216.92 monthly.

Despite the cost, medical insurance can spare you and your family the burden of shouldering outrageous medical costs. If you or a family member needs coverage, head over to Healthcare.gov to find a plan.

Knoxville Utilities

Fortunately, Knoxville boasts some impressively mild weather. Though the city may see a few inches of snow each year, winters are generally mild and summers are pretty hot.

That mild weather may be the reason that Knoxville residents enjoy utility bills that are lower than the national average of $240.

Knoxville households pay an average monthly utility bill of $193.04 to cover gas, fuel, electricity, and water.

This rate doesn’t include services like Wi-Fi and cell coverage, so be sure to set aside an additional $65.40 for Internet with 60 Mbps or more for unlimited data.

Fitness and Entertainment

The average single Knoxville resident spends $1,811 annually or about $151 monthly on recreation and entertainment, while a family of four spends $4,127 annually or about $344 monthly on the same.

So, what are Knoxville’s residents spending these funds on?

First and foremost, fitness enthusiasts in Knoxville spend an average of $33.56 a month to work up a sweat in a gym.

Many others take advantage of the city’s fair weather and take their exercise efforts outdoors with activities like jogging, walking, or cycling.

In fact, if you head down to Ijams Nature Center, you’ll find many Knoxville residents using the park’s 12+ miles of trails for the activities mentioned above.

Many families enjoy free entertainment, as Ijams is home to an art gallery, an animal exhibit hall, water sports, and more.

As a bonus, the park is also dog-friendly, so your four-legged friend is welcome on walks with you.

For residents who prefer watching sports rather than participating in them, the University of Tennessee’s college sports teams offers plenty of entertainment year-round.

Starting prices for tickets to the school's home basketball and football games range from $42 to $96.

If you’re looking to enjoy a good meal after a game, head to one of Knoxville’s many restaurants. A cheap meal starts at $13, but if you want to treat yourself and a friend to three courses at a decent place, expect to pay $55 plus tip.

Finally, for the art lovers in Knoxville, the Knoxville Museum of Art boasts free admission. So take a trip, enjoy the art, and consider donating.

All in all, Knoxville features an impressive array of affordable entertainment and recreation options for its residents.

Other Expenses to Consider in Knoxville

One of the best things about living in Knoxville is the city’s lack of taxes.

The state of Tennessee does not levy a personal income tax, so you’ll save more of your hard-earned dollars come tax time.

That said, you can expect to pay taxes on income earned through interest and dividends.

If you’re new to the city and have a unique tax situation, we recommend connecting with a tax professional to help you get your tax situation sorted.

Speaking of taxes, the combined sales and use tax for Tennessee and Knox County is 9.25%.

Many US cities have lower sales and use taxes, so be sure to note the change if you are moving from one of them.

Finally, Knoxville median home prices are now $257,300. Knoxville home prices are rising, but still lower than the national median average of $291,700.

What Salary Do You Need to Live in Knoxville?

Salary recommendations are a bit of a mixed bag, as your budget is so strongly influenced by your individual financial situation and lifestyle.

So, although the Bureau of U.S. Census Bureau sets the average Knoxville resident’s salary at $44,308, however, that’s not necessarily the number to aim for.

When setting a salary goal in Knoxville, it’s a good idea to start with your housing costs. Not only will this allow you to account for a major expense upfront, but it will also enable you to narrow down your apartment search early on.

Here’s a breakdown of the recommended salary in Knoxville based on average rent rates for different-sized apartments.

• If you are renting an average-priced one-bedroom apartment in Knoxville, your annual salary should be around $43,800 or higher.
• If you are renting an average-priced two-bedroom apartment in Knoxville, your annual salary should be around $55,040 or higher.

For a more personalized salary recommendation, use the 30% rule. This budgeting guideline sets the upper limit for your housing budget line item to 30% of your income.

You can also use our rent calculator for a quick and easy estimate. Whatever strategy works for you, so long as your budget is comprehensive.

Final Thoughts

With the Appalachian Mountains, music, Southern charm, and mild weather, Knoxville’s got charm in spades. With residents enjoying affordable housing costs and a wealth of entertainment opportunities, it’s not surprising that so many want to settle down in K-town.

If you’re ready to move to Knoxville, start your apartment hunt with Apartment List.

FAQs: Cost of Living in Knoxville

How much money do you need to live comfortably in Knoxville?

We recommend using the 30% rule for your budget. If you rent a one-bedroom apartment in Knoxville for $939 a month, you should ideally earn around $37,560 per year, or about $18.06 per hour. You want to do your best to only spend up to 30% of your income on rent to live comfortably. It’s also wise to consider MIT’s living wage estimate for Knoxville, which is currently $20.85 per hour. This is the minimum amount you need to cover your most basic living expenses without any room for savings or debt repayments.

Where is the most affordable place to live in Knoxville?

You'll find renting a one-bedroom apartment in Knoxville is far less expensive than other metropolitan cities, with an average cost of $939 per month. If you want a boost in your savings, you can look to cheap neighborhoods in Knoxville like Edgewood, where rents start around $900. You'll want to consider the safety and crime index of any neighborhood with rock bottom pricing to stay safe.

What is the average electric bill in Knoxville?

Utility bills in Knoxville typically average about $240 per month, but you should plan ahead for summer heat waves. For a better idea of what to expect in your budget, explore these tips on calculating your utility costs

What is the population of Knoxville?

According to the U.S. Census Bureau, the population of Knoxville is 192,648. It is the third-most populated city in the state of Tennessee.