Real Estate In Knoxville, TN
Knoxville Real Estate
Things to do
Real Estate In Knoxville, Tennessee
If you are thinking of investing in real estate in Tennessee, Knoxville should be one of your top locations. This friendly, progressive, and rapidly developing city is ideal for real estate. Strategically located at the foothills of the Great Smoky Mountains, Knoxville is filled with nature's beauty.
Home to the University of Tennessee, the city prides itself in having several world-class amenities. Also, the city's diverse population exposes you to a wide range of cultures. Besides, major festivals and events are held annually in Knoxville, depicting various cultures including Asian, Greek, Italian, and Hispanic, among others. These characteristics make real estate in Knoxville, Tennessee highly valuable.
Knoxville was first settled in 1786, becoming the first state capital of Tennessee. Throughout the early 19th century, Knoxville struggled with geographic isolation. This affected its development rate significantly. However, the arrival of the railroad in 1855 led to a major economic boom in the city. Even though there was steady development in the 1860s, the city experienced various challenges. For instance, Knoxville was bitterly divided over the secession issue in the course of the American Civil War. During this time, it was occupied alternatively by Union and Confederate armies. The build-up of weapons culminated in the Battle of Fort Sanders in 1863. After the end of the war, Knoxville experienced significant development as it became a major manufacturing and wholesaling center. With many people moving into the city, real estate for sale in Knoxville, Tennessee was in high demand. However, in the 1920s, Knoxville experienced economic stagnation as the manufacturing industry collapsed. Most of the city leaders became entrenched in political fights as the downtown area failed economically. Knoxville went through a tough economic period for several years up to 1952, when normalcy resumed. Knoxville found a major economic breakthrough by hosting the 1982 World's Fair. This event helped reinvigorate the city, restoring its former glory as a major economic hub in Tennessee. Revitalization efforts by private developers and city leaders also had a huge impact on Knoxville's economy. During this time, the city experienced significant changes, especially in the downtown area. New structures were also built in the city, significantly improving its cityscape.
Things to do in Knoxville
Things to do in Knoxville
Knoxville has a lot of things you can do and see. There is more to it than just being a convenient academic marvel and pit stop. The World's Fair Park is one of the most popular places to visit in Knoxville. Conveniently set at the heart of Knoxville's downtown, this enormous green space was the fairgrounds of the inaugural 1982 World's Fair. Currently, the park serves as a major public park and a top attraction in Tennessee. With scenic walkways and gorgeous lawns, this is a great place especially if you love photography. Even better, the park has a laid-back oasis where you can relax after a busy day.
Zoo Knoxville is another great attraction in Knoxville. Undoubtedly, this is one of the best places to visit with your child. From gigantic giraffes to extremely exclusive red pandas, there is access to a plethora of captivating creatures that both adults and kids will love. You can let your child ride the Zoo Choo Train while you feed the elegant giraffes. There is also a camel ride at the zoo, giving you a wild and unforgettable experience.
Knoxville's location makes it a great place to invest in real estate. The city is situated in a broad valley between the Great Smoky Mountains in the southeast and Cumberland Mountains in the northeast. The two mountains have a massive impact on the city's climate. For instance, in winter, the Cumberland Mountains in the north of the city slow the flow of cold air, making the temperatures colder. In the summer, warm, moist air originating from the west slows down cold airwaves. This keeps the summer nights comfortable. Therefore, those that enjoy cool summer nights will find their stay in Knoxville quite enjoyable.
Anyone in the market for real estate knows the importance of numbers in the success of a real estate property. It is prudent to invest in a location with a growing population to increase the demand for homes. If you are looking for such a location in Tennessee, Knoxville is right there. The city's ever-increasing population makes it a great place for real estate development. In the 2020 census, Knoxville had a population of 201,733. This was a 2.9% increase from 2010.
The increase in population is a sign that more people are moving into Knoxville, and that there is a ready market for homes. According to the census, the city had a median age of 32.4. Even though there were about 18.4% of people aged below 18 years, most of the residents in Knoxville are young adults. This is good news for real estate developers because there will be increased demand for homes.
From the census, the city had 47% male and 53% female. Its population density was 1,898 individuals per square mile. This shows that there are more people per square mile in Knoxville than in other nearby cities. The presence of more people increases the demand for homes. This is one of the reasons real estate for sale in Knoxville, Tennessee, is in high demand.
From the data collected in previous years, there are about 96,838 households in Knoxville. This is a high number, representing the high population in the city. There were about 2.53 persons per household, meaning most homes in the city are occupied by about two people. Real estate developers can take advantage of such family sizes and develop homes that can accommodate two people comfortably. They should also be affordable to fit the needs of locals. Knoxville had a homeownership rate of 50.4%.
About 74.6% of the city's residents had been living in the same apartment for over a year. This means that once you get clients for your real estate property, they are unlikely to relocate within a year. With a median household income of $32,677, Knoxville is one of the most advanced cities in the country. The city's per capita income was $23,567, which is the third-highest in Tennessee.
Several companies are operating in Knoxville. The largest of them being Pilot Flying J, a privately owned company employing thousands of locals. It is the sixth-largest private company, reporting $56.42 billion in revenue in 2021. The city is also home to one of the largest grocery wholesalers in the country; the H.T. Hackney Company. The company reported about $5.8 billion in revenue in 2021. The presence of several companies in Knoxville makes it a great city to invest in real estate. It is also ideal for those looking for jobs.
Arts in Knoxville
Arts in Knoxville
Knoxville has a lot to offer when it comes to arts and entertainment. This beautiful city is home to a rich arts community and hosts various festivals across the year. Knoxville has had massive contributions to bluegrass, old-time, and country music. The many art museums in Knoxville allow you to explore various art pieces. You will also learn more about art history in several art museums. If you enjoy watching live performances, the Knoxville Symphony Orchestra is quite a thing of beauty. Established in 1935, this orchestra group performs regularly in the city. It maintains a core of full-time musicians and dancers that showcase their talents at more than 200 events annually.
Schools in Knoxville
Schools in Knoxville
Knoxville is home to the University of Tennessee. This great university has been in operation since the 1790s, making it a top public institution. It has an enrollment of over 44,000 and endowments of around $450 million. Given its massive size, the university employs over 1,500 people and offers over 350 degree programs. Public schools in Knoxville are managed by the Knox County Schools system. The system is in charge of 50 elementary schools, 14 high schools, 14 middle schools, and 11 adult centers. It serves over 65,000 students.
Knoxville is undoubtedly one of the best cities for real estate in Tennessee. With a thriving local economy and an ever-increasing population, real estate in Knoxville, Tennessee, is a valuable investment to consider. Knoxville is also a great city to live in, whether you are looking to enjoy your retirement or raise a family. The presence of numerous companies in the city also makes it ideal for those looking for jobs.
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