The housing market in Memphis, MI is quite robust with a median value of $278,500. This value is below the US House Median Value of $338,100, but the appreciation over the past year has still been quite strong with a rate of 7.58%. While it may not be as fast as the national rate of 8.27%, it shows that there is still an appreciation for housing in Memphis, MI and it remains a great investment area for potential homeowners.
The median home cost in Memphis is $278,500. Home appreciation the last 10 years has been 116.4%. Home Appreciation in Memphis is up 10.8%.
Average Age of Homes
- The median age of Memphis real estate is 63 years old
The Rental Market in Memphis
- Renters make up 28.2% of the Memphis population
- 2.4% of houses and apartments in Memphis, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.