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 $235,700, higher than the Michigan average of $196,062.
The average cost of rent is $646/mo in Memphis, primarily driven by the current value of real estate in the Memphis area. While nearly 40.57% of residents own their homes outright in Memphis, 11.13% rent.
Housing affordability isn’t just about home prices, though. The average household income in Memphis is $7,614 per month. Households that rent pay about 8.48% of their income on rent here. Memphis's most expensive areas are in the western regions, while the cheapest areas are in the northeastern parts of the city.
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: equally priced homes
- Armada, MI: higher 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
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