KNOXVILLE, Tenn. — Rent prices in Knoxville have been rising as landlords and property management companies continue spiking the cost of renting a home in the city.
According to reports, Knoxville's rent prices increased by 27% compared to last year and is now one of the top-5 cities with the fastest rising rent. The median price of living in a one-bedroom apartment in Knoxville is now $1,070 per month, according to reports.
The data was collected by Zumper, an online rental listing platform. They analyzed housing from major cities across the U.S. and found Knoxville landed fourth on the list for change rent prices. Rent prices rose quicker than Boston, Tampa, Austin and New York City, according to the report.
The report also found that Knoxville was the 63rd on the list of U.S. cities with the highest rents.
The Knoxville Area Association of Realtors reported rent prices soared up to 30% over the last year in communities across Tennessee. And the spike has left many families and renters priced out of their homes, unsure of where they can live.
"I am out here working," one Knoxville renter said previously. "Like, I am working every day and if my rent goes up anymore I don't know what I'll do."