Knoxville rent rises 61% since 2020, report says
Rising housing costs are a key contributor for the high inflation rate, according to the report.
KNOXVILLE, Tenn. (WVLT) - Rent prices are one of the key contributors to the rising inflation rate, and a new report outlined the rising rent in Knoxville.
In Knoxville, the current median rent for a one-bedroom apartment is $1,189 while a two-bedroom apartment will cost around $1,494, according to a report from Apartment List.
Knoxville rent has risen 61% since the start of the COVID-19 pandemic, the report stated.
Those prices rose just in the past month. In 2022, the month of June saw a 3.7% increase in rent prices, and the report said this is 2.4% higher than the national median monthly rent increase.
Since 2021, Knoxville rent growth rose 26.6%. The national median rent grew 12% at the same time.
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