Cheap Apartments for Rent in the Five Points Neighborhood of Knoxville, TN from $500 (27 Rentals)

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

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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2601-2609 Bridalwood Dr
2 Bedroom Apartments

2601-2609 Bridalwood Dr

2601-2609 Bridalwood DrKnoxville, TN 37917
  • Utilities Included
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1309 Forest Ave
2 Bedroom Apartments

1309 Forest Ave

1309 Forest AveKnoxville, TN 37916
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Hillwood Villas
1 to 2 Bedroom Apartments

Hillwood Villas

1642 Hillwood DrKnoxville, TN 37920
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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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The Flats at The Pike
1 to 2 Bedroom Apartments

The Flats at The Pike

1501 Washington PikeKnoxville, TN 37917
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The Highland On Laurel
1 Bedroom Apartments

The Highland On Laurel

1533 Laurel AveKnoxville, TN 37916
Student Housing
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116 S Gay St
Studio to 4 Bedroom Apartments

116 S Gay St

116 S Gay StKnoxville, TN 37902
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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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Gardens at Knoxwood
2 to 3 Bedroom Apartments

Gardens at Knoxwood

2627 Wimpole AveKnoxville, TN 37914
  • Utilities Included

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 Studio unit found at Highland Terrace Communities priced from $925. Morningside Gardens Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $935. Here are the most affordable Five Points apartments for rent in Knoxville, TN:

Apartment ListingModel NameBed/BathPriced From
Highland Terrace CommunitiesHighland Terrace EfficiencyStudio,1BA$925
Morningside Gardens Apartments1 Bedroom 1 Bathroom1BR,1BA$935
The DandridgeTwo Bedroom - One Bath2BR,1BA$1,100
MaplehurstStudiosStudio,1BA$1,153
Knox High ApartmentsStudioStudio,1BA$1,250
Gardens at Knoxwood2x12BR,1BA$1,279
The AdeladeBodhi1BR,1BA$1,396
Highland Avenue ApartmentsTop Floors2BR,1BA$1,400
First Creek at Austin2 BR2BR,1BA$1,470

Best Value Apartments for Rent in Five Points, TN

As of April 15, 2025 the best value apartment in the Five Points area is the $1.63 price per square foot 401 E Scott Ave Model at 401 E Scott Ave, Unit 401-1 in the in the West Knoxville neighborhood starting from $1,795. The second greatest value Five Points apartment is the 2 BR Model at First Creek at Austin starting at $1,470 with a $1.48 price per square foot in the Holston Hills 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.
401 E Scott Ave, Unit 401-1401 E Scott Ave2BR,1BA$1.63
First Creek at Austin2 BR2BR,1BA$1.48
The DavyB22BR,2BA$1.81
The DandridgeTwo Bed OneBath - UPG2BR,1BA$1.58
Knox High ApartmentsOne Bedroom1BR,1BA$2.06
Highland Avenue Apartments1st Floor2BR,1BA$1.98
The AdeladeBodhi1BR,1BA$1.99
Gardens at Knoxwood2x12BR,1BA$1.85
Morningside Gardens Apartments1 Bedroom 1 Bathroom1BR,1BA$1.71
2323 E Magnolia Ave, Unit 32323 E Magnolia Ave1BR,1BA$2.22

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Pet Friendly Lifestyle
Five Points, Knoxville, TN

Ranked #16

Among neighborhoods in Knoxville, TN 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.

Getting Around the Five Points Neighborhood in Knoxville, TN

Walk Score®

59 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

67 / 100

Bikeable

Some bike infrastructure

Transit Score®

37 / 100

Some Transit

A few nearby public transportation options

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 $1,470.

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

The cheapest apartment in Five Points is Morningside Gardens Apartments which is listed at $935, while the average apartment in Five Points costs $2,899.

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 47 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 $1,136 which is $1,763 cheaper than the average rent for all rentals in Five Points.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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 Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.