Expensive
Affordable
Affordable
Colorblind friendly
off
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 $332,729, higher than the Michigan average of $250,415.
The average cost of rent is $839/mo in Memphis, primarily driven by the current value of real estate in the Memphis area. In Memphis, 8.47% of households rent, and 40.59% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Memphis is $7,333 per month. Households that rent pay about 11.44% of their income on rent here. Memphis’s most expensive areas are in the northwestern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Berville, MI: equally priced homes
- Riley Center, MI: less expensive homes
- Goodells, MI: less expensive homes
- Allenton, MI: equally priced homes
- Emmett, MI: less expensive homes
- Richmond, MI: less expensive homes
- Mount Vernon, MI: higher priced homes
- Armada, MI: equally priced homes
- Columbus, MI: equally priced homes
- Thornton, MI: less expensive homes
Cities with Similar Populations
- Vail, CO: higher priced homes
- Vance, AL: less expensive homes
- El Granada, CA: higher priced homes
- East Granby, CT: higher priced homes
- East Helena, MT: higher priced homes
- East Kingston, NH: higher priced homes
- East Prairie, MO: less expensive homes
- East Windsor, CT: less expensive homes
- Eastaboga, AL: less expensive homes
- Eastover, SC: less expensive homes
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