News Summary

Knoxville has opened Alden North Knoxville, a new housing development with over 100 rental homes aimed at addressing the city’s housing affordability crisis. Local officials view this build-to-rent community as a significant step towards providing more affordable options amid rising home prices that make ownership challenging for many families. The initiative is part of a broader strategy that includes additional affordable housing developments to meet the needs of the growing population.

Knoxville Tackles Housing Affordability Crisis with New Developments

A new housing development, Alden North Knoxville, has officially opened its doors, offering more than 100 homes designed specifically for renters. This initiative marks one of the first fully built-to-rent communities in the North Knoxville area, providing a significant alternative to traditional apartments and single-family homes.

Alden North Knoxville is strategically targeting renters seeking the space and privacy typically associated with owning a home but without the long-term commitment of homeownership. This offers a new solution as the city grapples with a growing affordability crisis highlighted in the 2025 State of the Housing Report, which indicates that only 15% of homes in Knoxville are affordable for median-income families.

Support for Build-to-Rent Models

Local leaders, including representatives from the Farragut West Knox Chamber of Commerce, view build-to-rent developments like Alden North as a crucial addition to the housing market. The homes within Alden North feature amenities such as fenced backyards, private driveways, and garages, enhancing the appeal for renters. Additional community amenities include a fitness center, clubhouse, and swimming pool.

Colin and Emily King, who recently moved from Lebanon, chose to rent at Alden North after discovering that homeownership was not feasible for them due to rising home prices. They characterize the housing market as “volatile,” stating that the current prices often do not reflect the value of homes, making renting a more practical option for many.

Expanding Affordable Housing Options

In addition to Alden North, DGA Residential has also launched an affordable housing community called Riverside at Holston, which offers 96 units. The new complex includes two-bedroom units renting for $1,200 and three-bedroom units priced at $1,400, targeted to tenants earning up to 80% of the Area Median Income. The City of Knoxville supported Riverside with a $750,000 investment from its Affordable Rental Development Fund.

Furthermore, DGA Residential has plans for at least two more complexes with over 200 additional units. Other ongoing projects include a 184-unit community and a 47-unit community, both anticipated to debut later this year. These developments are part of a broader strategy to meet the growing demand for diverse and accessible housing options.

Knoxville’s Growth Challenges

The 2025 State of the Housing Report reveals that while East Tennessee’s housing market is stabilizing, affordability remains a significant challenge. The area is expected to welcome an influx of 75,160 new residents by 2040, fueled by an increase in young professionals and retirees. As Knoxville’s population grows, the urgency for more affordable housing has become increasingly apparent.

City and county leaders are engaged in collaborative development plans aimed at addressing the infrastructure and public service needs that accompany this population growth. Emphasis is being placed on mixed-use zoning to enable various types of residential developments, aiming to prevent urban sprawl while meeting the diverse housing needs of the community.

Conclusion

With rising costs and a limited number of affordable homes, new developments like Alden North Knoxville and Riverside at Holston represent essential steps in addressing Knoxville’s housing crisis. As the city prepares for continued growth, the focus remains on creating ample housing options that cater to both renters and potential buyers.

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Navigating Knoxville’s Housing Affordability Crisis: A Balanced Perspective

Additional Resources

• WBIR: Build-to-Rent Homes in Knoxville
• Wikipedia: Housing Affordability
• WATE: Affordable Housing Units in Knoxville
• Google Search: Knoxville housing affordability
• Inside of Knoxville: Housing Report 2025

Author: STAFF HERE KNOXVILLE WRITER

KNOXVILLE STAFF WRITER The KNOXVILLE STAFF WRITER represents the experienced team at HEREKnoxville.com, your go-to source for actionable local news and information in Knoxville, Knox County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Dogwood Arts Festival, Big Ears Festival, and Knoxville Asian Festival. Our coverage extends to key organizations like the Knoxville Area Chamber Partnership and United Way of Greater Knoxville, plus leading businesses in healthcare, education, and energy that power the local economy such as Covenant Health, University of Tennessee, and Tennessee Valley Authority. As part of the broader HERE network, including HEREBristol.com, HEREChattanooga.com, HEREMemphis.com, and HERENashville.com, we provide comprehensive, credible insights into Tennessee's dynamic landscape.