$1,945 Per Month
- 2 Beds
- 2 Baths
- 1,172 Sq Ft
- Condo for Rent
1315 Lucy Way Unit 7, Knoxville, TN 37912
1315 Lucy Way Unit 7, Knoxville, TN 37912
Frequently Asked Questions
How much does it cost to rent a condo in Knoxville, TN?
The median rent for a condo in Knoxville, TN is $1,700 per month, though prices vary by neighborhood, size, and property type. As of May 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in Knoxville, TN?
To comfortably afford the median rent in Knoxville, TN, a household needs to earn roughly $80,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,000 per month in Knoxville, TN, renters typically need to show $6,000 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Knoxville, TN?
In Knoxville, TN, the price-to-rent ratio is 16.2, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Knoxville, TN are best for renting a condo?
The best neighborhood for renting in Knoxville, TN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include Fort Sanders, Downtown Knoxville, Magnolia Warehouse District, South Knoxville and Uptown Knoxville, each with its own character and price range.
