Knoxville\u2019s multifamily market had a remarkable 2022<\/a><\/strong>, sustained by healthy demand that triggered record-high investment and deliveries. This kept rent growth above the U.S. average for most of the pandemic. As of February, the metro\u2019s average asking rate posted a consistent 12.8% year-over-year increase, to $1,391, while the U.S. figure rose just 4.8%, to $1,702. The occupancy rate in stabilized properties decreased 50 basis points in the 12 months ending in January, to a still high 97.6%.<\/p>\n