A recent article by Nasdaq lists Knoxville as one of the cities where housing will become unaffordable for average home buyers. The list was based on an analysis by GOBanking Rates of metro areas that are outpacing the national average for growth.
The article lists Knoxville's June 2023 home value as $326,331 with a one-year projected growth rate of 9.8%. The article projects that Knoxville will become too expensive by 2026, with a projected home value of $431,599--- more than $12,000 more than the projected U.S. median home value. And get this-- the 2033 projected home value in Knoxville is $831,153!
What does this mean for you? Well, if you are thinking of investing-- now could be the right time to buy a property in Knoxville as home values continue to rise. And if you are thinking of moving here--- you should act sooner rather than later, or perhaps look at settling somewhere outside the metro area. There are lots of options! The team at MR10 Realty can look at your situation and help you make the right decision for you!
Here are the other cities on the list:
Athens, Georgia
Daphne, Alabama
Fayetteville, Arkansas
Tucson, Arizona
Columbia, Missouri
Savannah, Georgia
Panama City, Florida
Huntsville, Alabama
Albuquerque, New Mexico
Dover, Delaware
Deltone, Florida
Yakima, Washington
