Cheap Apartments for Rent in the Five Points Neighborhood of Knoxville, TN from $500 (54 Rentals)

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

Welcome to Knoxville: A Local Expert's Guide to Renting in the Heart of Tennessee

Discover why Knoxville, Tennessee is one of the South's best places to rent. Explore top neighborhoods, universities, restaurants, and everything the city has to offer.

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property at 3210 E Magnolia Ave

$1,150

Total Monthly Price

Total Monthly Price

Base Rent
$1,150
Total Monthly Price
$1,150

2 Bedroom, 1 Bath Townhome for Rent

Available Aug 10

3210 E Magnolia Ave

KnoxvilleTN37914
property at 3212 E Magnolia Ave

$1,150

Total Monthly Price

Total Monthly Price

Base Rent
$1,150
Total Monthly Price
$1,150

2 Bedroom, 1 Bath Townhome for Rent

Available Aug 10

3212 E Magnolia Ave

KnoxvilleTN37914

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 2716 Carson Ave

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350

2 Bedroom, 1 Bath Home for Rent

Available Now

2716 Carson Ave

KnoxvilleTN37917
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2601-2609 Bridalwood Dr
2 Bedroom Apartments

2601-2609 Bridalwood Dr

2601-2609 Bridalwood DrKnoxville, TN 37917
  • Utilities Included

Knoxville Living: Mapping Your Next Apartment Near the City's Biggest Businesses

Looking for a rental in Knoxville? Our guide breaks down 20+ neighborhoods with affordable housing, great schools, and easy access to job opportunities across Knox County.

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1309 Forest Ave
2 Bedroom Apartments

1309 Forest Ave

1309 Forest AveKnoxville, TN 37916
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316 James Agee St
2 Bedroom Apartments

316 James Agee St

316 James Agee StKnoxville, TN 37916
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612 South Studios
Studio Apartments

612 South Studios

612 Gertrude AveKnoxville, TN 37920
Corporate Housing
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Hillwood Villas
1 to 2 Bedroom Apartments

Hillwood Villas

1642 Hillwood DrKnoxville, TN 37920
  • Utilities Included
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White Avenue Apartments
1 Bedroom Apartments

White Avenue Apartments

1303 White AveKnoxville, TN 37916
Student Housing
  • Utilities Included
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Riverview Park
2 to 3 Bedroom Apartments

Riverview Park

3219 River Maple WayKnoxville, TN 37914
  • Utilities Included

Knoxville's Best Affordable Neighborhoods

Learn about Knoxville and the best places to live with original content written by our Local Expert Wendy Melton

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The Highland On Laurel
1 Bedroom Apartments

The Highland On Laurel

1533 Laurel AveKnoxville, TN 37916
Student Housing
  • Utilities Included
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The Flats at The Pike
1 to 2 Bedroom Apartments

The Flats at The Pike

1501 Washington PikeKnoxville, TN 37917
  • Utilities Included
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Sterchi's Lofts
Studio to 4 Bedroom Apartments

Sterchi's Lofts

116 S Gay StKnoxville, TN 37902
  • Utilities Included
property at 3043 E 5th Ave

$1,115 - $1,295

1 Bedroom Rentals

Available Now

3043 E 5th Ave

KnoxvilleTN37914
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The Highland V
2 to 3 Bedroom Apartments

The Highland V

1523 Highland AveKnoxville, TN 37916
Student Housing
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1701-1705 Hutchinson
1 to 2 Bedroom Apartments

1701-1705 Hutchinson

1701-1705 Hutchison AveKnoxville, TN 37917
property at 510 14th St

$1,095 - $1,395

1 Bedroom Rentals

Available Now

510 14th St

KnoxvilleTN37916

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Five Points, Knoxville, TN Local Guide

Cheapest Available Five Points Apartments for Rent

 

The cheapest available apartment rental in the Five Points area of Knoxville, TN is a 1 Bed unit found at 16th Place Apartments priced from $880. Morningside Gardens Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $945. Here are the most affordable Five Points apartments for rent in Knoxville, TN:

Apartment ListingModel NameBed/BathPriced From
16th Place ApartmentsOne Bedroom1BR,1BA$880
Morningside Gardens Apartments1 Bedroom 1 Bathroom1BR,1BA$945
1901 E. 5th Ave - NEW Flint Rock - FL1901 E. 5th Ave - NEW Flint Rock - FL - 022BR,1BA$995
The Shiloh Ridge Apartments2 Bed2BR,1BA$999
The DandridgeTwo Bed OneBath - UPG2BR,1BA$999
Oak Crest ApartmentsTwo Bedroom2BR,2BA$1,000
MaplehurstEfficiencyStudio,1BA$1,025
2436 Belvedere AveStudioStudio,1BA$1,075
Highland Terrace CommunitiesHighland Terrace 1 Bed 1 Bath1BR,1BA$1,085
City South ApartmentsStudio - 6121BR,1BA$1,141

Best Value Apartments for Rent in Five Points, TN

As of August 02, 2026 the best value apartment in the Five Points area is the $0.83 price per square foot Two Bedroom Model at Oak Crest Apartments in the in the North Knoxville neighborhood starting from $1,000. The second greatest value Five Points apartment is the 801 Phillips Ave Model at 801 Phillips Ave, Unit # 2 starting at $1,850 with a $1.54 price per square foot in the North Knoxville neighborhood. Here is today’s list of the best values for Five Points apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Oak Crest ApartmentsTwo Bedroom2BR,2BA$0.83
801 Phillips Ave, Unit # 2801 Phillips Ave2BR,1.5BA$1.54
River’s Edge ApartmentsThe Tennessee2BR,2BA$1.72
The DandridgeThree Bed One Bath3BR,1BA$1.25
Cortland BuildingsNorth Central Village2BR,2BA$1.75
1501 Clinch Ave2 Beds, 1 Baths2BR,1BA$1.62
Flagship Kern's ApartmentsAcademic Year 2026 - 2027 - B12BR,2BA$1.28
The Shiloh Ridge Apartments2 Bed2BR,1BA$1.21
1901 E. 5th Ave - NEW Flint Rock - FL1901 E. 5th Ave - NEW Flint Rock - FL - 022BR,1BA$1.53
Morningside Gardens Apartments1 Bedroom 1 Bathroom1BR,1BA$1.73

Knoxville's College Scene: An Expert's Deep Dive into Local Universities and Top Student Neighborhoods for Renting

Searching for student housing in Knoxville? Discover affordable rentals in neighborhoods near top colleges in Knoxville, TN.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Five Points, Knoxville, TN

Ranked #19

Among cities in Tennessee for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Lifestyle Ratings

This website compares millions of points of data to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities across the United States including Five Points, Knoxville, and the greater Knoxville area. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for easy access to the parks, luxury amenities, multifamily communities for the kids, raising pets, transit options, and more. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Five Points Apartments

What is a cheap apartment in Five Points?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Five Points is under $1,141.

What is the price of a cheap apartment in Five Points?

The cheapest apartment in Five Points is 16th Place Apartments which is listed at $880, while the average apartment in Five Points costs $1,909.

What types of apartments are the cheapest in Five Points?

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 122 regular apartments in Five Points 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 Five Points?

Cheap apartments in Five Points have an average cost of $1,371 which is $538 cheaper than the average rent for all rentals in Five Points.

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.

Helpful Local Expert Guides

decorative image for Welcome to Knoxville: A Local Expert's Guide to Renting in the Heart of Tennessee article

Welcome to Knoxville: A Local Expert's Guide to Renting in the Heart of Tennessee

Written by: Wendy Melton

Knoxville, Tennessee, is a jewel in the heart of the South. Many travelers who pass through often return again and again because of the hospitality and friendliness of local residents.

decorative image for Knoxville Living: Mapping Your Next Apartment Near the Citys Biggest Businesses article

Knoxville Living: Mapping Your Next Apartment Near the Citys Biggest Businesses

Written by: Wendy Melton

With a population of over 190,000, Knoxville, Tennessee, is the third-largest city in the state. It sits adjacent to the Tennessee River.

decorative image for Knoxvilles College Scene: An Expert's Deep Dive into Local Universities and Top Student Neighborhoods for Renting article

Knoxvilles College Scene: An Expert's Deep Dive into Local Universities and Top Student Neighborhoods for Renting

Written by: Wendy Melton

Knoxville, Tennessee, is located in the heart of the Great Smoky Mountains. The quiet calm of the mountains is the perfect place for college students to study and focus on their education.

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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.