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City Report · IA

Knoxville

Pop. 7,473·29th most expensive in Iowa·Knoxville rents have dropped 9.4%, currently a renter's market
Median rent (all units)
$950/mo
Year-over-Year
-9.4%
Month-over-Month
+1.0%
vs US Median
-$1,012
Rising (Monthly)
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Most AffordableMost Expensive
Knoxville · $950
More affordable than 98% of US cities · National median $1,962/mo
Affordability
19% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $950/mo, rent takes about 19% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$38,000/yr
Local median income
$61,599/yr
Based on the 30%-of-income rule using Knoxville's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$640
1 BR
$740
2 BR
$940
3 BR
$1,130
4 BR+
$1,250
Fair Market Rent (HUD)
$940/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $950 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$11,400/yr
At $950/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 9.4% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-9.4% YoY, +1.0% MoM), not inventory.
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Demographics

Who lives here

Knoxville, IA is majority owner-occupied, has a large retiree population, has a median income below the national average, 30.6% of residents hold a bachelor's degree or higher.

Population
7,473
Median income
$61,599
Median age
42.2
Renters
24%
Age distribution
19.5%
22.9%
21.4%
13.2%
23%
Under 1819.5%
18–3422.9%
35–5421.4%
55–6413.2%
65+23%
Gender
45.6%
54.4%
Male45.6%
Female54.4%
Race & ethnicity
94.2%
White94.2%
Hispanic1.9%
Asian1.5%
Other2.1%
Education (25+)
37.2%
26.2%
30.6%
No HS diploma6.1%
HS diploma37.2%
Some college26.2%
Bachelor's+30.6%
Housing tenure
76%
24%
Owner76%
Renter24%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Knoxville, IA has changed in 5 years

Income
$52,125 → $61,599
up 18.2%
Population
7,537 → 7,473
down 0.8%
Renter share
36.7% → 24%
-12.7 pts
Bachelor's+
20.8% → 30.6%
+9.8 pts
Median age
40.1 → 42.2
+2.1 yrs

Median household income climbed from $52,125 to $61,599 between 2021 and 2024, a 18.2% shift. The renter share has eased from 36.7% to 24%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 20.8% to 30.6% across the same window.

Community

Discussions about Knoxville

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View Knoxville rent history (2015–2026) →
Salary vs rent

Can you afford rent in Knoxville on your salary?

At $950/mo, how Knoxville rent compares to typical pay (30% rule).

By apartment size

Knoxville rent by bedroom count

Median rent for each apartment size in Knoxville. Click any size for full breakdown.

Local insights

Tips for renters in Knoxville

About renting in Knoxville, IA

Last updated: August 17, 2026

The median rent in Knoxville is $950/mo as of August 2026. A studio apartment averages $640/mo while a 2-bedroom runs $940/mo. One-bedroom apartments average $740/mo and 3-bedroom units go for $1,130/mo.

At 19% of local median household income ($61,599/yr), Knoxville ranks as affordable compared to the national benchmark of 30%. Rents have decreased 9.4% over the past year.

FAQ

Frequently asked questions

Is Knoxville an affordable city for renters?

Knoxville is considered very affordable for renters. At $950/mo, rent takes approximately 19% of the local median household income ($61,599/yr). The standard benchmark is 30%. Knoxville falls comfortably within that range.

How much income do you need to rent in Knoxville?

To keep rent at or below 30% of gross income, you would need to earn at least $38,000/year (~$18/hour full-time) to afford the median rent of $950/mo in Knoxville. The local median household income is $61,599/yr, meaning the typical Knoxville household meets that threshold.

Is rent going up or down in Knoxville?

Rent in Knoxville has decreased 9.4% over the past year as of August 2026, offering some relief compared to 12 months ago.

How does Knoxville rent compare to other cities in Iowa?

Knoxville is one of the more affordable cities in Iowa for rent, ranking #29 out of 33 tracked cities at $950/mo.

What percentage of Knoxville residents rent vs. own?

According to Census data, approximately 24% of Knoxville households are renters, while 76% are owner-occupied. Knoxville leans toward homeownership, which can mean a smaller rental inventory.

How does Knoxville rent compare to the national average?

Knoxville's median rent of $950/mo is $1,012 (52%) below the US national median of $1,962/mo. Within Iowa, it ranks #29 out of 33 tracked cities.
Income Affordability
19%
VERY AFFORDABLE

At $950/mo, rent takes ~19% of Knoxville's median household income ($61,599/yr). The standard benchmark is 30%.

Knoxville 19%Benchmark 30%
State income tax3.8%
Run the Knoxville affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Knoxville, IA

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