Cost of Living
In 2015 Knoxville was ranked by Forbes magazine as the second most affordable American city. Knoxville currently holds a 77.4 rating on the Housing Opportunity Index (HOI) by the National Association of Home Builders and Wells Fargo and an 88.9 on the Cost-of-Living index by Sperling’s Best Places. According to Forbes, cities with a HOI index above 100 have higher prices for day-to-day goods such as food, utilities, gas, transportation, and medical expenses than the national average.
In 2012, Reuters deemed Knoxville one of only three major metropolitan areas in the United States to have experienced a full economic recovery after the Great Recession based on data from the Brookings Institution, a nonprofit group that conducts independent research.
Knoxville is currently ranked as one of Forbes’ “Top 50 Best Places for Business and Careers.” According to Forbes, factors that contributed to the ranking are Knoxville’s unemployment rate of 5.4 percent, a cost of living 2.7 percent below the national average, and for being home to major industries of energy, telecommunications, and financial services.
In 2013, CareerBliss.com ranked Knoxville second on a list of the “Happiest Cities to Work In.” As reported by Forbes, the rankings were based on an analysis of 36,000 independent employee reviews. Employees were asked to evaluate ten factors that affect workplace happiness, including company culture, company reputation, daily tasks, one’s relationship with the boss and co-workers, job resources, compensation, work environment, and more.
In 2014 Amazon ranked Knoxville as the third most well read city in America. According to Amazon, rankings for the list were determined by “compiling sales data of all book, magazine and newspaper sales in both print and Kindle format from April 2013 to April 2014, on a per capita basis in cities with more than 100,000 residents.”
In 2014 Knoxville was deemed one of USA TODAY’s “Millennial Magnet” cities. These cities have factors that “attract young, college-educated workers and keep them there as they start families.”
In 2013 the National League of Cities ranked Knoxville as the top ranked “Let’s Move!” city in the nation.
In 2015, the Lincoln Property Group named Knoxville one of the “10 Best Cities to Relocate to in the U.S.”