Knoxville is one of the three major metropolitan areas that has experienced an economic recovery since the recession. Once called the 'scruffy little city', the downtown is undergoing a rapid renaissance as young people move into the lofts and apartments created from the factories and warehouses of another era. On any evening of the week, residents and visitors can be seen at the sidewalk cafes, theaters, restaurants and night clubs along Gay Street and Market Square. The University of Tennessee is within walking distance from downtown. Millenium Edition rates Knoxville as "The Number One Best Place to Live" for cities under a population of one million. The best part about Knoxville is that I-40 and I-75 can get you anywhere you want to go within 30 minutes or less, north, south, east or west! .
Knoxville's average apartment rental rate in the city is around $950.00. The average 1 bedroom apartment rents for approximately $600.00 and the average 2 bedroom rents for around $800.00. The Average listing price for homes for sale is approximately $150,000. Popular neighborhoods in the Knoxville area are Edgewood, Oakwood, and North Knoxville.