The housing market in Memphis, TN is thriving. The median value of houses in the city is $148,300, which is significantly lower than the U.S. median house value of $338,100. Over the past year, house appreciation in Memphis has been 15.06%, much higher than the U.S. average of 8.27%. This demonstrates that Memphis is a popular and attractive place to buy property with strong potential for good returns on investment. With its low cost of living and wide range of options for housing styles and sizes, Memphis provides great opportunities for people looking to purchase a home or start investing in real estate.
The median home cost in Memphis is $148,300. Home appreciation the last 10 years has been 97.4%. Home Appreciation in Memphis is up 15.5%.
Average Age of Homes
- The median age of Memphis real estate is 48 years old
The Rental Market in Memphis
- Renters make up 41.9% of the Memphis population
- 4.0% 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.