Cost of Living in Knoxville, TN: What to Expect When Living Here as a Renter

Relocating to a new city is always a mix of excitement and uncertainty, especially when it comes to living expenses. As a renter, it’s important to consider more than just rent when budgeting; it’s essential to know what the local cost of living will mean for everyday expenses. So, before committing to a new location and signing a lease for a rental apartment, a closer look at the financial landscape of that area can help ensure your budget aligns with what’s available.

Knoxville, TN, is a popular choice for renters seeking a blend of city life and Southern charm. Located 180 miles away from Nashville, the Marble City has plenty to offer, from lively outdoor scenes to a growing arts and culture scene. But how does the cost of living in Knoxville, TN, measure up compared to the state of Tennessee and the U.S. overall?

Here’s what you need to know if you’re looking for an apartment for rent in Knoxville, TN.

What is the average cost of living in Knoxville, TN?

With a median household income of around $48,309, Knoxville residents can enjoy living costs that are 3% lower than the Tennessee average and 13% below national values. These savings provide a cushion for renters looking to stretch their budgets without sacrificing quality of life.

Housing in Knoxville is particularly affordable, with costs 24% below the national benchmark, and the average monthly rent sitting at $1,753. This allows for quality rental living spaces at a lower cost compared to other cities. Similarly, utility bills are about 9% lower than the national average, adding more monthly budget predictability for renters in Knoxville.

Essentials like groceries and clothing in Knoxville are around 12% cheaper than in other places across the country, making everyday expenses lighter on the wallet. This helps Knoxville residents keep daily costs under control, with food and clothing priced more affordably than in many other cities.

Furthermore, healthcare costs in Knoxville are also about 12% below the national average, making regular doctor visits and dental check-ups more accessible. Entertainment and personal care services also follow this trend, with prices about 12% lower than the U.S. average, giving Knoxville residents more freedom to enjoy the local scene without overspending.

Is Knoxville, TN, a good choice for renters?

To sum it up, the cost of living in Knoxville, TN, offers renters a unique balance of affordability and quality of life. With lower costs for housing, utilities, groceries, and even healthcare, this city allows renters to enjoy more flexibility in their budgets.

If you want savings and quality living as a renter, then Knoxville is definitely worth considering.

Curious about the financial implications of living in other cities across the U.S.? Check out our guides for the cost of living in Spokane, WA; Grand Rapids, MI; Indianapolis; Baltimore; Washington, D.C.; Milwaukee; Chicago; Detroit; Atlanta; Minneapolis; and Vancouver, WA.