Cheap Apartments for Rent in the Island Home Neighborhood of Knoxville, TN from $800 (43 Rentals)

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

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

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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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

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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Hillwood Villas
1 to 2 Bedroom Apartments

Hillwood Villas

1642 Hillwood DrKnoxville, TN 37920
  • Utilities Included
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Riverview Park
2 to 3 Bedroom Apartments

Riverview Park

3219 River Maple WayKnoxville, TN 37914
  • Utilities Included

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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612 South Studios
Studio Apartments

612 South Studios

612 Gertrude AveKnoxville, TN 37920
Corporate Housing
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Southside Flats
1 to 3 Bedroom Apartments

Southside Flats

2727 Fort Stanley wayKnoxville, TN 37920
  • Utilities Included
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Young High Flats
2 to 3 Bedroom Apartments

Young High Flats

121 E Young High PikeKnoxville, TN 37920
  • Utilities Included
property at 1443 N 4th Ave

$1,445

Total Monthly Price

Total Monthly Price

Base Rent
$1,445
Total Monthly Price
$1,445

2 Bedroom, 1 Bath Home for Rent

Available Now

1443 N 4th Ave

KnoxvilleTN37917

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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JFG Flats
Studio to 3 Bedroom Apartments

JFG Flats

200 W Jackson AveKnoxville, TN 37902
  • 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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Showing Results 1-43, Page 1 of 1

Island Home, Knoxville, TN Local Guide

Cheapest Available Island Home Apartments for Rent

 

The cheapest available apartment rental in the Island Home area of Knoxville, TN is a 1 Bed unit found at Evergreen Terrace priced from $900. Morningside Gardens Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $945. Here are the most affordable Island Home apartments for rent in Knoxville, TN:

Apartment ListingModel NameBed/BathPriced From
Evergreen TerraceOne Bedroom remodel1BR,1BA$900
Morningside Gardens Apartments1 Bedroom 1 Bathroom1BR,1BA$945
Cherokee Ridge ApartmentsThe Appalachia1BR,1BA$950
The Shiloh Ridge Apartments2 Bed2BR,1BA$999
Oak Crest ApartmentsTwo Bedroom2BR,2BA$1,000
Southside Flats1A Type B 60%1BR,1BA$1,045
2436 Belvedere AveStudioStudio,1BA$1,075
Young High Flats2-B Type B-60%2BR,2BA$1,099
City South ApartmentsStudio - 6121BR,1BA$1,198
Southmont ApartmentsTwo Bedroom2BR,1BA$1,199

Best Value Apartments for Rent in Island Home, TN

As of June 05, 2026 the best value apartment in the Island Home area is the $2.06 price per square foot The Daniel - 413 Model at The Daniel in the in the Holston Hills neighborhood starting from $3,200. The second greatest value Island Home apartment is the Two Bedroom Model at Oak Crest Apartments starting at $1,000 with a $0.83 price per square foot in the North Knoxville neighborhood. Here is today’s list of the best values for Island Home apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The DanielThe Daniel - 4132BR,2BA$2.06
Oak Crest ApartmentsTwo Bedroom2BR,2BA$0.83
The DavyB22BR,2BA$1.63
The Shiloh Ridge Apartments2 Bed2BR,1BA$1.21
The HenleyMetro1BR,1BA$1.79
First Creek at Austin1 BR1BR,1BA$1.78
Cherokee Ridge ApartmentsThe Appalachia1BR,1BA$1.46
Evergreen TerraceOne Bedroom remodel1BR,1BA$1.55
Morningside Gardens Apartments1 Bedroom 1 Bathroom1BR,1BA$1.73
2436 Belvedere AveStudioStudio ,1BA$2.22

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
Island Home, Knoxville, TN

Ranked #28

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Lifestyle Ratings

Our team of engineers and researchers is happy to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of neighborhoods, cities, and rental properties across Tennessee and customized analysis for Knoxville, Tennessee. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and easy access to the parks, places to raise kids, raising pets, transit options, and more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Island Home Apartments

What is the price of a cheap apartment in Island Home?

The cheapest apartment in Island Home is Evergreen Terrace which is listed at $900, while the average apartment in Island Home costs $1,947.

What types of apartments are the cheapest in Island Home?

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 86 regular apartments in Island Home 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 Island Home?

Cheap apartments in Island Home have an average cost of $1,274 which is $673 cheaper than the average rent for all rentals in Island Home.

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

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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.

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Knoxvilles College Scene: An Experts 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 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.

Articles, How-To's, and Tips

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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.