Knoxville, TN has a booming real estate business according to recent reports and trends for the 3rd quarter of 2016. It is definitely a good place to look for property to either rent or own. A median listing of approximately $185,000 is not bad at all. This means per square foot falls on the $87 mark which is perfect for possible property owners.
When it comes to rentals, median rent on a monthly basis is around $1,100. There are apartments and homes for rent starting at $700 – $1,600 (several properties charge higher) per month. Prices are highly dependent on the number of rooms, your type of rental home, or community you want to belong to.
Choosing the Right Place
Fact is you can choose from a wide selection of homes and communities. Places with nearby schools may charge a bit higher than those that are set farther away from educational hubs. For your information, there are 76 set up in Knoxville.
Here’s to provide you with a comprehensive data of the entire city:
Single residents account for 40% of the population
Homes can be acquired from $170,000 or lower up to $175,000. But luxury homes have up to $345,000 same goes with those with pools. Hardwood flooring on houses have price tags of below $170,000 while lofts are placed somewhere around $185,000.
There are also homes with remodeled kitchens where wives can prepare meals for the entire family and these can go as high as $335,000. Newly-constructed homes are more or less around $164 or higher while you may get a good price from for sale by owner homes which are priced lower just because these do not include agents, brokers or any companies that charge additional fees.
Properties lined up for future renters or owners are just awesome. You can even visit a bank or view some listings of homes under foreclosure proceedings, auctioned homes, or properties that are on pre-foreclosure stages. Get a professional to help you with that to get a good price.
These and more can be laid in front of you if you wish to go on with the deal. But as a reminder, get someone whom you think knows more about the trend to get a better shot at the right transaction. Finally, an ocular inspection of the property is a good idea to see if what you saw online is really worth having.