Knoxville, TN Federal Housing Finance Agency Home Price Index (FHFA HPI)

The home equity and home prices in the Knoxville, TN, Federal Housing Finance Agency house price index have been on the rise in recent years. This is due to a number of factors, including low interest rates, a strong job market, and population growth.

In 2017, the median home value in Knoxville was $163,700, up from $154,000 in 2016. The median home value in the city has now increased by nearly 5% since 2013. Meanwhile, the average 30-year mortgage rate has remained relatively low at around 4%.

Strong job growth has also contributed to rising home values in Knoxville. Between 2016 and 2017, the city added an estimated 9,200 new jobs. This is an increase of nearly 6%. Population growth has also played a role in boosting demand for housing. Between 2010 and 2016, Knoxville's population grew by nearly 8%.

All of these factors have helped to drive up home values in Knoxville. However, it is important to note that prices are still below pre-recession levels. In 2007, the median home value in Knoxville was $172,000. While values have recovered somewhat since then, they have not yet reached their previous peak.