Knoxville Multifamily Market Report – September 2025

Market Overview

‍After several years of steady momentum, Knoxville’s multifamily market is easing into a more balanced rhythm in Q3 2025. Average asking rent is roughly $1,508 per unit and occupancy remains strong at 95.6 percent. New supply is limited, with only 288 units delivered through July and about 4,545 units still underway. The modest pace of construction combined with solid renter demand is helping the market maintain stability even as absorption trends soften.

‍About Yardi Matrix

‍Yardi Matrix is a data focused research firm specializing in multifamily housing. Their Knoxville market report highlights rent performance, occupancy, supply pipelines and transaction activity to help owners, developers and investors evaluate timing, risk and market positioning. To read the full report, click here.