Real Estate Investing in Knoxville, Tennessee (37923)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37923 (Knoxville, TN)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.4% vacancy may signal weakening demand.
What’s happening in Knoxville, TN (37923)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 37923 Knoxville
ZIP 37923 in Knoxville, TN carries a substantial set of headwinds. Home values near $408K and rents of $1,639/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $408K asset, 37923 is the wrong submarket. If the plan prices in friction, the yield can still work.
Nearby ZIPs in Knoxville have seen price recovery that 37923 has not matched. Knox County data supports the view that the spread is structural rather than temporary.
Employment concentration in 37923 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Knoxville:
Property Strategy for 37923
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $169,700 | $1,340 | 5.7% | +13.6% | $169,700 |
| 2BR | $271,595 | $1,660 | 4.4% | +11.6% | $135,798 |
| 3BR | $382,147 | $2,100 | 4.0% | +10.9% | $127,382 |
| 4BR | $476,334 | $2,450 | 3.7% | +10.5% | $119,083 |
| 5BR | $591,241 | — | — | +11.3% | $118,248 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 37923 Compare?
| Metric | 37923 | Knoxville | Knoxville, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $408,144 | $207,092 | N/A | $327,001 |
| 5-Year CAGR | 8.2% | 8.7% | N/A | 7.7% |
| Avg Rent | $1,639 | $1,756 | N/A | - |
| Cap Rate | 3.1% | 3.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 37923 (Knoxville, TN). Anonymous, moderated, never written by AI.
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Property managers serving Knox County
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📊 Market Snapshot
| Home Value | $408,144 |
| Monthly Rent | $1,639 |
| Price-to-Rent | 20.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 11.4% |
📈 Home Appreciation
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | +8.2% ▲ |
| 10-Year CAGR | +8.4% ▲ |
🏠 Rent Trends
| 1-Year | -6.6% ▼ |
| 3-Year CAGR | -1.6% ▼ |
| 5-Year CAGR | +2.4% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 37923
Population: 30,874
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 37923
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,984 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are vacancy rates like in Knoxville, TN?
Vacancy in Knoxville, TN is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,639/mo.
What do landlords charge for rent in Knoxville, TN?
Expect rents around $1,639/mo per month in Knoxville, TN. With home values at $408K, the yield math works out to reasonable levels for rental investors.
What strategy should investors use in Knoxville, TN?
A careful cash-flow rentals with hands-on management strategy Knoxville, TN best. The market produces predictable results for that approach at the $408K price point.
Are tenants stable in Knoxville, TN?
Working renters make up the core of the Knoxville, TN tenant base. The pool is reasonable for investors targeting long-term holds.
Is Knoxville, TN a good place for real estate investing?
Yes - Knoxville, TN a 3.0/5 investability score. With $408K home prices against $1,639/mo monthly rent, the market delivers a reasonable entry point for new investors.
You know 37923 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 37923 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 37923 ranks in Knoxville, TN
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