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Affordable
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These days, finding an affordable place to live in the New Memphis area can be challenging. Home prices in New Memphis are now at a median cost of $204,466, lower than the Illinois average of $300,242.
The average cost of rent is $1,053/mo in New Memphis, primarily driven by the current value of real estate in the New Memphis area. In New Memphis, 11.77% of households rent, and 59.66% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in New Memphis is $6,082 per month. Households that rent pay about 17.31% of their income on rent here. New Memphis’s most expensive areas are in the southwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Venedy, IL: equally priced homes
- New Baden, IL: equally priced homes
- Damiansville, IL: equally priced homes
- Mascoutah, IL: higher priced homes
- St. Libory, IL: equally priced homes
- Albers, IL: equally priced homes
- Fayetteville, IL: higher priced homes
- Okawville, IL: less expensive homes
- Stone Church, IL: less expensive homes
- Addieville, IL: less expensive homes
Cities with Similar Populations
- Wing, AL: less expensive homes
- Big Creek, KY: less expensive homes
- Boiceville, NY: higher priced homes
- Bowen, IL: less expensive homes
- Westwood, OH: higher priced homes
- White Cottage, OH: higher priced homes
- White Creek, WI: less expensive homes
- White Lake, SD: less expensive homes
- Wiergate, TX: less expensive homes
- Wilda, VA: equally priced homes
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