It’s no secret that the cost of housing has gone up all across the country, but specifically, in Knoxville, have significantly risen in the last five years.
According to a newly released report from Smart Analysis (Where Home Prices Increased Most), home prices in Knoxville has gone up 90%!
In 2019, homes sold for $176,407 in Knoxville, up to $334,279 in 2024. This is the highest growth rate over a five-year period for the 100 largest metro areas.
The study ranked the top 100 metro cities and how much home prices have gone up in just a year. Knoxville came 21st on the list, with a 9.8% increase. Wichita, KS saw the highest change with over 21%.
Overall, across the U.S., homes sold an average of 6% more than last year (April).
As far as Tennessee goes, Chattanooga was #35 and Nashville #43. Memphis was one of five U.S. cities that saw a decline in home prices.
