Home prices in 4 Knoxville ZIP codes could jump by more than $100,000 in the next decade

Liz Kellar, Knoxville News Sentinel

If you're a prospective homebuyer in the Knoxville area, you might want to start thinking about putting in an offer soon.

According to East Tennessee Realtors, while residents have struggled to find or afford homes and apartments in recent years, the pressure could be easing up. The group's 2024 Knoxville Housing Market Forecast is predicting falling interest rates, more houses on the market and a smaller price increase than last year.

While there are many areas in the South with homes below the U.S. median home value − currently $343,951 − that won’t be the case forever, if GOBankingRates is to be believed.

Home prices in multiple areas of Knoxville are projected to increase more than $100,000 over the next 10 years (or sooner), says a study by the personal finance website.

To identify which ZIP codes will show the highest increase in real estate prices, GOBankingRates researchers first identified the places in the South where home prices are relatively affordable right now and then analyzed new Zillow data to project what those home prices will look like over the next decade.

Where home prices will go up in Knoxville

The findings show prices in these Knoxville-area ZIP codes are projected to increase by more than $100,000 over the next decade:

  • Fountain City/Halls Crossroads (37918): A January median home value of $310,485, which is projected to increase to $417,738 by 2028

  • South Knoxville (37920): A January median home value of $286,522, which is projected to increase to $426,874 by 2029

  • West Knoxville/Amherst (37921): A January median home value of $267,418, which is projected to increase to $467,293 by 2031

  • Norwood (37912): A January median home value of $269,981, which is projected to increase to $465,708 by 2031

Other East Tennessee ZIP codes where home prices will go up

  • Maryville (37804): A January median home value of $321,497, which is projected to increase to $396,060 by 2027

  • Oak Ridge (37830): A January median home value of $286,339, which is projected to increase to $468,898 by 2031

  • Johnson City (36715): A January median home value of $324,451, which is projected to increase to $426,058 by 2029

  • Lenoir City (37771): A January median home value of $291,760, which is projected to increase to $459,385 by 2031

  • Clinton (37716): A January median home value of $289,215, which is projected to increase to $485,887 by 2032

  • Kingston (37763): A January median home value of $300,950, which is projected to increase to $504,147 by 2033

Liz Kellar is a Tennessee Connect reporter. Email liz.kellar@knoxnews.com. Support strong local journalism by subscribing at knoxnews.com/subscribe. 

This article originally appeared on Knoxville News Sentinel: Knoxville ZIP codes where home prices will increase most

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