Nashville-Davidson--Murfreesboro--Franklin, TN vs Knoxville, TN
A 2-bedroom in Knoxville costs $259 less per month than Nashville-Davidson--Murfreesboro--Franklin ($1,471 vs $1,730). Median income is $82,499 in Nashville-Davidson--Murfreesboro--Franklin and $69,734 in Knoxville. That's a difference of $3,108 per year in housing costs.
Side-by-Side Comparison
| Metric | Nashville-Davidson--Murfreesboro--Franklin | Knoxville |
|---|---|---|
| Studio FMR | $1,507 | $1,177 |
| 1BR FMR | $1,578 | $1,184 |
| 2BR FMR | $1,730 | $1,471 |
| 3BR FMR | $2,211 | $1,864 |
| 4BR FMR | $2,696 | $2,172 |
| Median Income | $82,499 | $69,734 |
| Rent Burden | 25.2% | 25.3% |
| Actual Median Rent | $1,434 | $1,080 |
| Median Home Value | $376,800 | $255,300 |
| Population | 2.0M | 920K |
| Renter % | 34.4% | 29.8% |
| Vacancy Rate | 7.6% | 10% |
| Poverty Rate | 10.4% | 12.6% |
| YoY Change | +6.9% | +20.5% |
| Min Wage | $7.25/hr | $7.25/hr |
Income Required to Afford a 2-Bedroom
Frequently Asked Questions
Knoxville, TN is more affordable with a 2BR FMR of $1,471/mo, which is $259 less than Nashville-Davidson--Murfreesboro--Franklin at $1,730/mo. However, when considering local incomes, Nashville-Davidson--Murfreesboro--Franklin has a rent burden of 25.2% vs 25.3% in Knoxville.
A 2-bedroom in Nashville-Davidson--Murfreesboro--Franklin, TN costs $1,730/mo at Fair Market Rent, while in Knoxville, TN it's $1,471/mo, a difference of $259/mo or $3,108/year.
To afford a 2BR without spending more than 30% of income on rent: Nashville-Davidson--Murfreesboro--Franklin requires $69,200/year ($33/hr). Knoxville requires $58,840/year ($28/hr).