The typical owner-occupied home in Knoxville is worth about $125,700, 33% below the Arkansas median of $188,000 and 62% below the national median of $332,700. Owners pay a median $551 a year in property taxes, about 0.44% of their home's value, lower than the Arkansas rate of 0.55%. The median household earns $45,714 a year, so the median home costs 2.7 times the median income (3.1 times for Arkansas). 85% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Knoxville at a glance
| Knoxville | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $125,700 | $188,000 | $332,700 |
| Median property tax paid per year | $551 | $1,040 | $3,119 |
| Property tax as a share of value | 0.44% | 0.55% | 0.94% |
| Median household income | $45,714 | $60,773 | $80,734 |
| Homes lived in by their owners | 85% | 66% | 65% |
| Owner homes with a mortgage | 53% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $1,060 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 23.9% | 18.5% | 21.0% |
| Median rent | $854 | $947 | $1,413 |
| Rent as a share of renters' income | 22.5% | 27.6% | 30.6% |
| Median year homes were built | 1983 | 1987 | 1980 |
| Vacant homes | 13.0% | 13.5% | 10.1% |
| Population | 663 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Knoxville
At this week's average 30-year rate of 7.11%, buying the median Knoxville home of $125,700 with 20% down costs about $775 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $984, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $33,212 for the 20%-down payment. That payment is 20% of the median Knoxville household income of $45,714; at that income and 20% down, the 28% guideline points to a home of about $173,000.
The median rent here is $854 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $25,140 |
|---|---|
| Loan amount | $100,560 |
| Principal and interest | $676 |
| Property taxes (0.44% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| PMI | $0 |
| Total per month | $775 |
Change the numbers in the calculator
| Down payment | $4,400 |
|---|---|
| Loan amount | $123,423 |
| Principal and interest | $830 |
| Property taxes (0.44% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| FHA mortgage insurance | $56 |
| Total per month | $984 |
Change the numbers in the calculator
Questions about home buying in Knoxville
What is the median home value in Knoxville?
About $125,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Knoxville?
Homeowners pay a median $551 a year, which is about 0.44% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Knoxville?
For the median home with 20% down at 7.11%, the payment is about $775 a month. Keeping that under 28% of gross income takes about $33,212 a year.
More about Knoxville
- Mortgage Refinance in Knoxville
- Debt Relief in Knoxville
- Home Equity Loans in Knoxville
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data