Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Memphis area can be challenging. Home prices in Memphis are now at a median cost of $191,378, lower than the Florida average of $278,762.
The average cost of rent is $1,255/mo in Memphis, primarily driven by the current value of real estate in the Memphis area. While nearly 50.08% of residents own their homes outright in Memphis, 28.26% rent.
Housing affordability isn’t just about home prices, though. The average household income in Memphis is $5,412 per month. Households that rent pay about 23.19% of their income on rent here. Memphis's most expensive areas are in the central regions, while the cheapest areas are in the western parts of the city.
Nearby Cities
- Palmetto, FL: higher priced homes
- Terra Ceia, FL: higher priced homes
- Ellenton, FL: higher priced homes
- West Bradenton, FL: higher priced homes
- Gillett, FL: higher priced homes
- South Bradenton, FL: less expensive homes
- Bradenton, FL: higher priced homes
- Bayshore Gardens, FL: less expensive homes
- Parrish, FL: higher priced homes
- Piney Point, FL: less expensive homes
Cities with Similar Populations
- Ambridge, PA: less expensive homes
- Winsted, CT: higher priced homes
- Wood-Ridge, NJ: higher priced homes
- Winchendon, MA: higher priced homes
- Asbury Lake, FL: higher priced homes
- Arden Hills, MN: higher priced homes
- Andalusia, AL: less expensive homes
- Amory, MS: less expensive homes
- Woodstock, MD: higher priced homes
- Wright City, MO: equally priced homes
All Local Stats
Home Services
No other site shows detail at this level for free. We are able to keep this site free by receiving a small commission from the referring links below if you book, rent, or request a lead at no cost to you. Please share or cite this page if you aren't able to otherwise support our work.
Map interface © Mapbox © OpenStreetMap Map data and content © bestneighborhood