Rarity Bay: Housing & Real Estate
Rarity Bay's median home value is $706,000 (estimated market value runs 19% higher at $843,084), with median rent $1,598 (2.2× higher than Monroe County median $714; 1.3× higher than Tennessee median $1,189). Homeownership rate: 83.5%. That's 3.1× higher than the Monroe County median ($227,500); 2.5× higher than the Tennessee median ($286,700). Market is warm. Vacancy rate 20.3%. New construction makes up 6.1% of stock. A municipal building code is in effect.
- 8.3× annual income — home value vs. household income (vs Tennessee 4.1×).
- 36.8 years to break even renting at the median (vs Tennessee 19y).
- 4-BR rent is 1.8× a studio — rent gradient by unit size.
- Median rent runs 8% above HUD 2-BR FMR — local market vs federal subsidy benchmark.
Home Values & Rent
Median home value $706,000 — 2.5× the Tennessee median ($277,100). Median rent $1,598/month. homeownership rate 83.5% — above the U.S. share of ~65%.
| Affordability · Home Price To Income | 8.3× |
|---|---|
| Affordability · Home Affordability | very expensive |
| Affordability · Rent Pct Income | 24.0% |
| Affordability · Rent Affordability | affordable |
| Affordability · Pct Severely Rent Burdened | 100.0% |
| Affordability · Poverty Rate | 1.2% |
| Affordability · Property Tax Pct Income | 2.9% |
| Fair Market Rent · Studio rent | $1,177 (vs Tennessee $1,131) |
| Fair Market Rent · One-bedroom rent | $1,184 (vs Tennessee $1,154) |
| Fair Market Rent · Two-bedroom rent | $1,471 (vs Tennessee $1,349) |
| Fair Market Rent · Three-bedroom rent | $1,864 (vs Tennessee $1,734) |
| Fair Market Rent · Four-bedroom rent | $2,172 (vs Tennessee $1,959) |
| Fair Market Rent · HUD FMR area | Knoxville, TN HUD Metro FMR Area |
| Fair Market Rent · Fiscal year | FY2026 |
| Home Value Estimate | $843,084 |
| Median Home Value | $706,000 (vs Tennessee $277,100) |
| Median Rent | $1,598 (vs Tennessee $1,191) |
Sources: HUD FMR FY2026 · Census ACS 5-Year 2023, B25077 · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Tenure & Occupancy
Owner-occupied vs renter-occupied housing units, plus vacancy rates.
| Housing Market · Market temperature | warm |
|---|---|
| Housing Market · Vacancy rate | 20.3% |
| Housing Market · New construction (% of stock) | 6.1% |
| Housing Market · Price Appreciation 2Yr | 7.9% |
Utilities
Electricity, water, and broadband infrastructure serving residents. Broadband percentages reflect the share of premises that can subscribe to service at the listed speed (FCC Form 477).
Systems (3)
| Broadband · % of premises with 25/3 Mbps broadband | 100.0% (at Tennessee median) |
|---|---|
| Broadband · % of premises with 100/20 Mbps broadband | 100.0% (at Tennessee median) |
| Broadband · % of premises with 250/25 Mbps broadband | 100.0% (at Tennessee median) |
| Broadband · % of premises with 1 Gbps / 100 Mbps broadband | 95.7% (vs Tennessee 90.0%) |
| Broadband · Broadband-capable premises | 628 |
| Electricity · Electricity rate (¢/kWh) | 12.42¢/kWh |
| Electricity · Customers | 3166103 |
| Electricity · Revenue Millions | $5,445 |
| Electricity · Year | 2024 |
| Mobile Broadband · 3G mobile coverage | 0.000000000 |
| Mobile Broadband · 4G mobile coverage | 1.000000000 (at Tennessee median) |
| Mobile Broadband · 5G mobile coverage | 1.000000000 (at Tennessee median) |
| Mobile Home Parks Detail · County total | 4 |
Sources: FCC BDC Jun 2025 · EIA Annual Retail Sales 2023 · FCC BDC Mobile 2024 · HIFLD / IRS BMF · Refreshed 2026-04-12
Other
| Homeownership Rate | 83.5% (vs Tennessee 52.4%) |
|---|---|
| Median Year Built | 2001 |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12