KNOXVILLE, Tenn. (WATE) — Rental prices could be trending downwards, according to a local realtor. With over 1,200 new affordable units completed in Knoxville this year, they said it has put a dent in the lack of affordable housing.

Local realtor Steven Hensley said renters should only spend around a third of their monthly income on rent and homeowners about a quarter of their monthly income on a mortgage to be considered financially stable.

“I know our median price is in Knoxville, Knox County especially, we're actually a little bit above the national average. We were way below that essentially our whole lives and then Covid made us jump above that," Hensley said. "So we're still around the national average. Maybe a little bit higher, and it's kind of in the mid threes [$30,000] is what

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