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

 

River Oaks, Memphis, TN Map of Most Affordable Neighborhoods
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These days, finding an affordable place to live in the River Oaks area can be challenging. Home prices in River Oaks are now at a median cost of $282,173, higher than the Memphis average of $186,591.

The average cost of rent is $1,382/mo in River Oaks, primarily driven by the current value of real estate in the River Oaks area. While nearly 35.74% of residents own their homes outright in River Oaks, 49.76% rent.

Housing affordability isn’t just about home prices, though. The average household income in River Oaks is $9,061 per month. Households that rent pay about 15.26% of their income on rent here. River Oaks's most expensive areas are in the central regions, while the cheapest areas are in the northeastern parts of the neighborhood.


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