Cheap Apartments for Rent in the Colonial Village Neighborhood of Knoxville, TN from $800 (21 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Colonial Village area of Knoxville.

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Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Cedar Village
1 Bedroom Apartments

Cedar Village

319-400 Hialeah DrKnoxville, TN 37920
  • Utilities Included

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Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Red Bud
1 to 2 Bedroom Apartments

Red Bud

430 & 500 E Redbud RdKnoxville, TN 37920
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Young High Flats
2 to 3 Bedroom Apartments

Young High Flats

121 E Young High PikeKnoxville, TN 37920
  • Utilities Included

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Showing Results 1-21, Page 1 of 1

Cheapest Available Colonial Village Apartments for Rent

 

The cheapest available apartment rental in the Colonial Village area of Knoxville, TN is a 1 Bed unit found at Red Bud priced from $930. Oak Crest Apartments has the second lowest priced unit, which is a 3 Beds apartment currently listed from $950. Here are the most affordable Colonial Village apartments for rent in Knoxville, TN:

Apartment ListingModel NameBed/BathPriced From
Red Bud1 Bedroom 1 Bath - 495361BR,1BA$930
Oak Crest ApartmentsThree Bedroom3BR,2BA$950
Cherokee Ridge ApartmentsThe Appalachia1BR,1BA$950
Cedar Ridge ApartmentsOne Bedroom Apartment1BR,1BA$1,000
2436 Belvedere AveStudioStudio,1BA$1,075

Best Value Apartments for Rent in Colonial Village, TN

As of April 23, 2026 the best value apartment in the Colonial Village area is the $0.72 price per square foot 3 Bedroom, 3 Bath Model at Redpoint Knoxville in the in the West Knoxville neighborhood starting from $999. The second greatest value Colonial Village apartment is the Two Bedroom Model at Oak Crest Apartments starting at $975 with a $0.81 price per square foot in the North Knoxville neighborhood. Here is today’s list of the best values for Colonial Village apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Redpoint Knoxville3 Bedroom, 3 Bath3BR,3BA$0.72
Oak Crest ApartmentsTwo Bedroom2BR,2BA$0.81
Young High Flats2-A Type B-60%2BR,2BA$1.31
Cedar Ridge ApartmentsOne Bedroom Apartment1BR,1BA$1.18
The HenleyMetro1BR,1BA$1.68
Red Bud1 Bedroom 1 Bath - 495361BR,1BA$1.24
Flagship KernsAY 2026 - 2027 {A2}1BR,1BA$2.72
Cherokee Ridge ApartmentsThe Appalachia1BR,1BA$1.46
Southmont ApartmentsTwo Bedroom Remodel2BR,1BA$2.25
2436 Belvedere AveStudioStudio ,1BA$2.22

Frequently Asked Questions about Cheap Colonial Village Apartments

What is the price of a cheap apartment in Colonial Village?

The cheapest apartment in Colonial Village is Red Bud which is listed at $930, while the average apartment in Colonial Village costs $1,821.

What types of apartments are the cheapest in Colonial Village?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 63 regular apartments in Colonial Village that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Colonial Village?

Cheap apartments in Colonial Village have an average cost of $1,419 which is $402 cheaper than the average rent for all rentals in Colonial Village.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

decorative image for An Expert Local Guide to Top Affordable Neighborhoods to Rent in Knoxville, TN article

An Expert Local Guide to Top Affordable Neighborhoods to Rent in Knoxville, TN

Written by: Wendy Melton

Knoxville is considered to be a jewel of the south. It is the largest city in the eastern half of Tennessee and home to the main campus of the University of Tennessee.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.