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Cost of Living in Knoxville

Is it better to rent or buy in Knoxville? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$77,725
$1,183/mo

Median in area: $1,183

$304,514

Median in area: $304,514

$60,903

If you Rent

🔑
$1,356 /mo
Base Rent$1,183
Est. Utilities$173
% of Income20.9%
Pre-tax Residual$5,121

If you Buy

🏠
$1,928 /mo
P&I (6.5%)$1,540
Taxes & Ins$215
Est. Utilities$173
% of Income29.8%
Pre-tax Residual$4,549

Cost of Living FAQs

Is it cheaper to rent or buy in Knoxville?›

Based on median housing data, renting is currently more affordable on a monthly basis in Knoxville. The estimated all-in monthly cost for renting is $1,356, while owning a median-priced home with a 20% down payment is roughly $1,928 per month (a difference of $572).

How much do utilities cost in Knoxville?›

The average monthly utility cost (electricity and natural gas) for a typical home in Knoxville is approximately $173. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Knoxville?›

To comfortably afford the median rent and utilities in Knoxville without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $54,240 per year.