The Most Affordable Neighborhoods in River Oaks-Kirby-Balmoral, Memphis, TN by Home Value

 

River Oaks-Kirby-Balmoral, Memphis, TN Map of Most Affordable Neighborhoods
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These days, finding an affordable place to live in the River Oaks-Kirby-Balmoral area can be challenging. Home prices in River Oaks-Kirby-Balmoral are now at a median cost of $312,992, higher than the Memphis average of $244,390.

The average cost of rent is $1,415/mo in River Oaks-Kirby-Balmoral, primarily driven by the current value of real estate in the River Oaks-Kirby-Balmoral area. In River Oaks-Kirby-Balmoral, 52.76% of households rent, and 42.41% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in River Oaks-Kirby-Balmoral is $7,480 per month. Households that rent pay about 18.92% of their income on rent here. River Oaks-Kirby-Balmoral’s most expensive areas are in the eastern regions, while the cheapest areas are in the northern parts of the neighborhood.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.


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