Knoxville Leads U.S. in Post-Pandemic Home Value Surge
Discover why Knoxville, Tennessee recorded the fastest home-value growth in the U.S. since 2019, rising 85.9% amid pandemic-driven migration, low interest rates, and shifting real estate trends.
A new report shows that home values in the United States have risen sharply since the beginning of the pandemic, driven by low interest rates, the widespread shift to remote work, and a strong wave of homebuying amid a severe housing shortage, according to Newsweek.
While many markets in the South and Sunbelt later lost part of their gains, one city continued its remarkable climb: Knoxville, Tennessee, which recorded the highest increase in home values nationwide since 2019.
According to Realtor.com, home values in Knoxville surged 85.9% over six years, marking the strongest growth of any U.S. city. This increase is equivalent to about $190,000 added to the median home price since October 2019, placing the city at the top of the list of “boom towns” reshaping America’s real estate map after the pandemic.
Market Surge Brings New Pressures to U.S. Boom Cities
Real estate agent Regina Santore says the market repeatedly surprised sellers. “Some received an unexpected $40,000… and in other cases, they made $100,000 just one year after buying,” she said. During the height of the pandemic, annual growth reached 28%, boosting the city’s appeal for newcomers seeking lower prices compared to major metros on the East and West coasts.
Other cities with similar high growth include Fayetteville, Arkansas; Charleston, South Carolina; Syracuse and Rochester, New York; Portland, Maine; New Haven, Connecticut; Charlotte and Chattanooga. All benefited from large waves of internal migration toward more affordable areas.
But the boom brought a complex side: rapid price increases put significant pressure on local affordability, especially with rising insurance costs, property taxes, and homeowners’ association fees. At the same time, the U.S. market has noticeably slowed in 2024–2025, with falling demand and rising supply in regions that saw massive post-pandemic expansion.
Redfin data shows that national home-price growth has dropped to just 1% since April, signaling that the market has entered a cooling phase after years of rapid acceleration. Boom towns are now shifting toward a new balance between prices and purchasing power.
