Greenwood, Knoxville, TN—37923
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Greenwood, Knoxville, TN
As of Oct '25, the median home price in Greenwood, Knoxville, TN is $396,000, with a year-over-year change of -0.0%. This indicates that home prices in Greenwood, Knoxville, TN are flat. According to Zillow, the 1-year price projection is 3.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $396,000 | -0.0% |
| Single Family | $408,000 | 0.0% |
| Condos | $298,000 | 1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $170,000 | 0.0% |
2 Bed | $272,000 | 0.4% |
3 Bed | $382,000 | 0.0% |
4 Bed | $476,000 | 0.2% |
| 5 Bed | $591,000 | 0.7% |
% of Housing Stock
Rental Trends — Greenwood, Knoxville, TN
As of July '25, Rentcast reports the average rent in Greenwood, Knoxville, TN is $1,940, with a year-over-year rent change of -6.3%. Per bedroom, the median rent as of July '25 in Greenwood, Knoxville, TN is studios: $1,210, 1-bedrooms: $1,480, 2-bedrooms: $1,580, 3-bedrooms: $2,250, 4-bedrooms: $2,610. The most common rental property sizes in Greenwood, Knoxville, TN are 2-bedroom and 1-bedroom, accounting for 47.6% and 22.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,940 |
| Studio Rent | $1,210 | $1,210 |
| 1 Bed Rent | $1,480 | $1,480 |
| 2 Bed Rent | $1,550 | $1,580 |
| 3 Bed Rent | $2,300 | $2,250 |
| 4 Bed Rent | $2,500 | $2,610 |
% of Rental Stock
Property Listings — Greenwood, Knoxville, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Greenwood, Knoxville, TN is 73. This is a increase of 52.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $385,000 | -6.0% |
Listing Count | 105 | 20.0% |
| Listings as % of Homes | 0.3% | 20.0% |
Days on Market | 73 | 52.0% |
Demographics — Greenwood, Knoxville, TN
As of the latest ACS Survey released in 2023, Greenwood, Knoxville, TN has a population of 30,900, which has increased by 2.1% over the past 5 years. Greenwood, Knoxville, TN is a moderately popular place for families, as children make up 21.3% of the population. The area has a highly educated workforce, with 46.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,900 | 2.1% |
% Under 18 | 21.3% | 6.5% |
% Seniors | 15.2% | -5.0% |
% WFH | 15.5% | 142.2% |
% w/ College Degree | 46.7% | 2.2% |
As of the latest ACS Survey released in 2023, Greenwood, Knoxville, TN is a predominantly white area, with 75.9% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Greenwood, Knoxville, TN is hispanic, making up 9.8% of the population. Foreign-born residents account for 12.5% of the population in Greenwood, Knoxville, TN, and this percentage has increased by 60.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 75.9% | -6.3% |
% Black | 6.7% | -4.3% |
% Hispanic | 9.8% | 55.6% |
% Asian | 3.4% | -17.1% |
% Foreign Born | 12.5% | 60.3% |
Mortgage and Risk — Greenwood, Knoxville, TN
According to HUD data as of 2023, there were 607 mortgage originations in Greenwood, Knoxville, TN, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Greenwood, Knoxville, TN. Investor activity is low, as 2.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 607 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Greenwood, Knoxville, TN
As of 2024, the percent of homes in Greenwood, Knoxville, TN under the Section 8 program is 2.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Greenwood, Knoxville, TN, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 127 |
Total Units Section 8 | 127 |
% Rentals under Section 8 | 2.4% |
% Occupied Section 8 | 80.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$50 | $1,480 | $1,430 |
| 2 Bedroom | $200 | $1,550 | $1,750 |
| 3 Bedroom | -$50 | $2,300 | $2,250 |
| 4 Bedroom | $140 | $2,500 | $2,640 |
Affordability — Greenwood, Knoxville, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.9 |
| Median Home Price | $396,000 |
| Median Household Income | $70,000 |