Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Downtown Memphis area can be challenging. Home prices in Downtown Memphis are now at a median cost of $187,199, higher than the Memphis average of $186,591.
The average cost of rent is $1,020/mo in Downtown Memphis, primarily driven by the current value of real estate in the Downtown Memphis area. While nearly 51.98% of residents own their homes outright in Downtown Memphis, 70.29% rent.
Housing affordability isn’t just about home prices, though. The average household income in Downtown Memphis is $3,675 per month. Households that rent pay about 27.74% of their income on rent here. Downtown Memphis's most expensive areas are in the western regions, while the cheapest areas are in the eastern parts of the neighborhood.
Nearby Neighborhoods
- Medical District, Memphis, TN: less expensive homes
- Crosstown, Memphis, TN: higher priced homes
- Midtown-Memphis, Memphis, TN: less expensive homes
- East Memphis-Colonial-Yorkshire, Memphis, TN: equally priced homes
- White Haven-Coro Lake, Memphis, TN: less expensive homes
- Berclair-Highland Heights, Memphis, TN: less expensive homes
- Shelby Forest-Frayser, Memphis, TN: less expensive homes
- Parkway Village-Oakhaven, Memphis, TN: less expensive homes
- Raleigh, Memphis, TN: less expensive homes
- River Oaks-Kirby-Balmoral, Memphis, TN: higher priced homes
Neighborhoods with Similar Populations
- North Torrance, Torrance, CA: higher priced homes
- Shelby Forest-Frayser, Memphis, TN: less expensive homes
- Richmond, Philadelphia, PA: less expensive homes
- Rancho Bernadino, San Diego, CA: higher priced homes
- Playa Vista, Los Angeles, CA: higher priced homes
- Park, Stockton, CA: higher priced homes
- Paerdegat, Brooklyn, NY: higher priced homes
- Oak Lane, Philadelphia, PA: less expensive homes
- Norwood Park, Chicago, IL: higher priced homes
- Northeast, Anaheim, CA: higher priced homes
All Local Stats
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