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 $149,058, lower than the New York average of $481,023.
The average cost of rent is $834/mo in Memphis, primarily driven by the current value of real estate in the Memphis area. While nearly 47.87% of residents own their homes outright in Memphis, 15.41% rent.
Housing affordability isn’t just about home prices, though. The average household income in Memphis is $6,260 per month. Households that rent pay about 13.33% of their income on rent here. Memphis's most expensive areas are in the southeastern regions, while the cheapest areas are in the northern parts of the city.
Nearby Cities
- Jordan, NY: less expensive homes
- Plainville, NY: equally priced homes
- Elbridge, NY: equally priced homes
- Halfway, NY: higher priced homes
- Warners, NY: higher priced homes
- Baldwinsville, NY: higher priced homes
- Meridian, NY: less expensive homes
- Skaneateles Falls, NY: higher priced homes
- Weedsport, NY: less expensive homes
- Camillus, NY: higher priced homes
Cities with Similar Populations
- Shullsburg, WI: equally priced homes
- Hancock, NY: less expensive homes
- Hopedale, IL: higher priced homes
- Huntington, VT: higher priced homes
- Ivor, VA: higher priced homes
- Kerens, TX: less expensive homes
- Laguna Park, TX: higher priced homes
- Madison Lake, MN: higher priced homes
- Merrionette Park, IL: less expensive homes
- Pamplin, VA: equally priced homes
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