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Rental Insights for ZIP Code 37918 (Knoxville, TN)

Housing Rentals in ZIP Code 37918 (Knoxville, TN)

37918 ZIP Code in Tennessee

An In-depth Rental Snapshot of ZIP Code 37918

The 37918 ZIP Code is primarily located in Knoxville, TN in Knox County. The estimated median housing rent in this region of Tennessee is $855 per month. About 31.4% of housing units in this Knox County ZIP Code are renter-occupied. Additionally, the region has an approximate rental vacancy rate of 4.3%.

The median rent in ZIP Code 37918 of $855 per month is 2% lower than the aggregate Tennessee median monthly rent of $869, and is 19% lower than the $1,062 the median monthly rent in the U.S. overall. Approximately 54.6% of renters in ZIP Code 37918 pay between $500 and $999 per month for housing. That is 7% higher than in Tennessee overall, in which 50.8% of total state residents pay between $500 and $999 per month for housing. Just 0.3% of renters in ZIP Code 37918 pay between $2,500 and $2,999 per month for housing.

ZIP Code 37918 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 37918

See the chart below for a comparison of monthly rental costs in ZIP Code 37918, Tennessee, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 37918 along with those in the state of Tennessee and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 37918

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 37918 Tennessee U.S.
Less than $500 11.5% 12.8% 9.4%
$500 to $999 54.6% 50.8% 36.2%
$1,000 to $1,499 25.4% 26.9% 30.0%
$1,500 to $1,999 6.0% 6.7% 14.0%
$2,000 to $2,499 1.2% 1.8% 5.6%
$2,500 to $2,999 0.3% 0.5% 2.4%
$3,000 or more 0.9% 0.5% 2.4%

Rent Cost vs. Income in ZIP Code 37918

Renters in ZIP Code 37918 use an estimated 28.99% of their income to cover their monthly rent payments. That is about 1% lower than in Tennessee overall. The estimate for Tennessee overall is 29.18% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 37918 renters use about 3% less of their income to cover rent expense. Household income figures for ZIP Code 37918 come in higher than in Tennessee as a whole. The median annual household income in ZIP Code 37918 of $57,068 sits approximately 7% higher than the overall Tennessee median income of $53,320 and approximately 9% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 37918

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 37918, Tennessee, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 37918 along with the same calculations in the state of Tennessee and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 37918

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 37918 Tennessee U.S.
Less than 15.0 percent 12.7% 14.1% 13.1%
15.0 to 19.9 percent 15.1% 13.4% 12.9%
20.0 to 24.9 percent 16.7% 12.8% 12.9%
25.0 to 29.9 percent 9.9% 12.3% 11.6%
30.0 to 34.9 percent 7.8% 9.4% 9.1%
35.0 percent or more 37.8% 37.9% 40.5%

Household Income in ZIP Code 37918

See the table below for the regional comparison of annual household income in ZIP Code 37918.

Income ZIP 37918 Tennessee U.S.
Less than $10,000 5.8% 6.9% 6.0%
$10,000 to $14,999 4.9% 5.2% 4.3%
$15,000 to $24,999 9.3% 10.6% 8.9%
$25,000 to $34,999 11.2% 10.4% 8.9%
$35,000 to $49,999 13.2% 14.0% 12.3%
$50,000 to $74,999 21.3% 18.3% 17.2%
$75,000 to $99,999 13.9% 12.4% 12.7%
$100,000 to $149,999 13.1% 12.8% 15.1%
$150,000 to $199,999 4.4% 4.7% 6.8%
$200,000 or more 2.9% 4.8% 7.7%

Household Income in ZIP Code 37918

See the chart below for a comparison of annual household income figures in ZIP Code 37918, Tennessee, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 37918 alongside the same figures for the state of Tennessee and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 37918

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 37918.

ZIP 37918 Tennessee U.S.
Median Housing Rent $855 $869 $1,062
Renter-Occupied Housing Units 31.4% 33.7% 36.0%
Rental Vacancy Rate 4.3% 7.1% 6.0%
Average Size of Renter-Occupied Unit 2.37 2.42 2.49
Average # of Bedrooms Per Unit 2.76 2.81 2.75
Percent of Income Spent on Rent 28.99% 29.18% 29.83%
Per Capita Income $28,180 $29,859 $34,103
Median Household Income $70,440 $74,750 $88,607
Living Below the Poverty Line 9.1% 11.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 37918

In ZIP Code 37918 (Knoxville, TN), and estimated 31.4% of housing units are occupied by renters. This region has an approximate rental vacany rate of 4.3%.

The per capita income in 37918 is estimated at $28,180, which goes along with an estimated median household income of $70,440. About 9.1% of residents in this Knox County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.37 occupants, while the units have an aggregate average size of 2.76 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 28.99% of their income on housing rental costs.

Rental FAQs for ZIP Code 37918

1

What is the median monthly rent in ZIP Code 37918?

Median rent for housing in ZIP Code 37918 in Knox County in Tennessee is approximately $855 per month.
2

Is it expensive to rent in ZIP Code 37918?

Rent in ZIP Code 37918 is lower than average in the state of Tennessee overall. The median monthly rent of $855 in ZIP Code 37918 is approximately 2% lower than the Tennessee median of $869. Additionally, median rent in this Knoxville, TN region ($855) is about 19% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 37918?

High-priced rentals are more common in ZIP Code 37918 than in Tennessee overall. The percentage of rentals in ZIP Code 37918 that cost $3,000 or more per month (0.9%) is about 80% higher than the Tennessee rate of 0.5% that cost that much. Additionally, the overall U.S. rate of 2.4% paying $3,000 or more per month is about 63% higher than the aforementioned 37918 rate of 0.9%.
4

Are affordable rentals common in ZIP Code 37918?

Affordable rentals are more common in ZIP Code 37918 than in Tennessee overall. The percentage of housing rentals in ZIP Code 37918 costing $999 or less per month (66.1%) is approximately 4% higher than the Tennessee rate of 63.6% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 45% lower than the previously mentioned 37918 rate of 66.1%.
5

What is the most common cost range that rentals fall into in ZIP Code 37918?

The most common range for rental cost in ZIP Code 37918 is between $500 and $999 per month. About 54.6% of renters in 37918 pay in this range for monthly rent. In comparison, approximately 50.8% of renters in the state of Tennessee fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 37918 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 37918 is lower than the rental vacancy rate in the state of Tennessee overall. Rental vacancy of 4.3% in ZIP Code 37918 is about 39% lower than the Tennessee rate of 7.1%. Looking more broadly, rental vacancy in this Knoxville, TN region (4.3%) is an estimated 28% lower than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 37918? How does it compare to other Tennessee regions?

Median household income in ZIP Code 37918 is higher than in the state of Tennessee overall. Annual household income of $57,068 in ZIP Code 37918 is about 7% higher than the Tennessee median of $53,320. Additionally, median household income in this Knoxville, TN region ($57,068) is approximately 9% lower than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 37918 spend on housing costs?

Renters in ZIP Code 37918 spend a lower amount of their income on rent costs than do renters in Tennessee overall. Renters in ZIP Code 37918 spend an estimated 28.99% of their income on rent payments, which is about 1% lower than the overall Tennessee estimated rate of 29.18%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 3% higher than the ZIP Code 37918 estimated rate of 28.99%.
9

Do renters in ZIP Code 37918 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 37918 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 37918 spending 30 percent or more of their income on rent costs (45.6%) is approximately 4% lower than the Tennessee rate of 47.3% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 8% higher than the aforementioned 37918 rate of 45.6%.
10

What is the average household size of renter-occupied units in ZIP Code 37918?

The average household size of renter-occupied units in ZIP Code 37918 is lower than in the state of Tennessee overall. Annual household size of 2.37 in ZIP Code 37918 is about 2% lower than the Tennessee median of 2.42. Additionally, median household size in this Knoxville, TN region (2.37) is approximately 5% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Tennessee ZIP Codes