The story of this market
The typical home in Memphis, Tennessee sells for about $209,000, or $135 per square foot.
Prices are up +4.7% from a year ago, so sellers still have some momentum. Homes take about 73 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,117 a month.
Monthly price momentum
Home values since 2015
-0.4%
TN · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Memphis, Tennessee
The Memphis housing market is currently balanced, with home prices showing modest year-over-year growth despite a cooling trend in buyer activity. High inventory levels and longer days on market suggest a market that favors buyers, though affordability remains a key driver for local demand. The city's reliance on logistics and healthcare sectors continues to provide a stable economic foundation.
No ARED county foreclosure postings attributed to Memphis yet — the verified ledger covers every county the foreclosure ingest has read, attributed by published city area. Key-figure check: median price corroborated by the published ten-year series (2024) (within 12.5%).
Deterministic aggregate of 25 researched ZIP reports — sales_count-weighted (population fallback); per point, children lacking the value or its weight are excluded. Tax rates, sentiment and context notes are tier-native and never roll.
Median prices moved down 11.4% year over year.
Homes spend a median of 62 days on market with 0.2 months of supply — a fast-moving market.
1% of listings have cut prices · homes sell at 17.56% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 8.5% · poverty 24.0% — a mixed stability profile.
- Dave & Buster's Memphis415 mi
- K1 Speed Memphis4.711.5 mi
- Urban Air Trampoline and Adventure Park4.214.6 mi
- Jumping World4.111.1 mi
- Urban Air Trampoline and Adventure Park4.220.9 mi
- Memphis Zoo4.63.2 mi
- FedExForum4.70.7 mi
- Crosstown Concourse4.72.2 mi
- Renasant Convention Center4.50.2 mi
- B.B. King's Blues Club4.60.6 mi
- Graceland4.57.1 mi
- Memphis Zoo4.63.2 mi
- National Civil Rights Museum4.91 mi
- Malco Paradiso4.59.2 mi
- Memphis Botanic Garden4.78 mi
- Graceland4.57.1 mi
- National Civil Rights Museum4.91 mi
- Crosstown Concourse4.72.2 mi
- Sun Studio4.81 mi
- Lorraine Motel4.91 mi
- Memphis Botanic Garden4.78 mi
- Shelby Farms Park4.812.4 mi
- Tom Lee Park4.61.1 mi
- Overton Park4.63.6 mi
- Snowden Grove Park4.615.1 mi
- Topgolf Memphis3.515 mi
- Mirimichi Golf Course4.410.4 mi
- The Links at Audubon4.27.9 mi
- Links At Galloway Golf Course4.36.7 mi
- The Links at Fox Meadows4.211.6 mi
- Tanger Outlets Southaven4.515.1 mi
- Wolfchase Galleria4.215.4 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
The amenity base that shapes daily life and property demand in this city — what residents actually live with, and what the pipeline is adding.
One of the largest urban parks in the country, offering extensive trails, lakes, and recreational facilities that serve as a major draw for residents.
A world-famous historic district known for its blues clubs, restaurants, and nightlife, serving as a primary cultural anchor for the city.
A highly-rated facility located in Overton Park that provides significant educational and recreational value to the community.
A developing network of trails that enhances connectivity and outdoor access across the city, positively impacting property appeal in adjacent areas.
Memphis is well-suited for value-oriented family buyers and investors seeking entry-level housing opportunities. The city's affordability relative to national averages makes it attractive for those looking to build equity, though buyers should be prepared for a market that requires careful neighborhood-level due diligence.
The public school landscape is primarily served by Memphis-Shelby County Schools, which faces ongoing challenges regarding academic performance and resource allocation. While there are specialized magnet and optional programs that perform well, the district as a whole is working through significant improvement initiatives.
The city is served by a network of major interstate highways including I-40 and I-55, which facilitate its role as a logistics hub. Public transit options are limited, making the city highly dependent on personal vehicle transportation for daily commutes.
Memphis offers a rich amenity base centered on its musical heritage, riverfront parks, and extensive greenway systems. Residents enjoy access to major attractions like the Memphis Zoo, Shelby Farms Park, and the historic Beale Street entertainment district.
The rental market is characterized by a high volume of long-term inventory, with a notable portion of listings remaining on the market for extended periods. Short-term rental activity is present but subject to increasing regulatory scrutiny and operational challenges regarding occupancy and turnover.
Memphis is a global logistics powerhouse, with FedEx serving as the primary economic anchor. The economy is heavily influenced by transportation, healthcare, and manufacturing sectors, providing a stable but slow-growth employment base.
Memphis maintains a strong economic foundation anchored by its status as a global logistics and distribution hub, bolstered by the presence of FedEx. Recent development momentum is focused on downtown revitalization, the expansion of medical district facilities, and infrastructure upgrades to support industrial growth.
Development efforts are currently concentrated on urban infill projects and the revitalization of historic districts. Major focus areas include the Liberty Park development and ongoing improvements to the city's riverfront and medical district infrastructure.
Parcels in Memphis are subject to various municipal and county tax districts, including those for school funding and public safety. Special assessment districts may apply in specific redevelopment zones or business improvement areas.
Memphis continues to face significant challenges with crime rates that remain higher than both the Tennessee state average and national benchmarks. Local authorities are focused on community-based policing and violence intervention programs to address these persistent trends.
The city faces moderate risks related to severe weather, including high winds and occasional flooding in low-lying areas near the Mississippi River. Property insurance markets are sensitive to these climate risks, leading to steady pressure on premium costs for homeowners.
Property insurance premiums in Memphis are influenced by regional weather patterns and the city's exposure to wind and flood risks. Market health is stable, though homeowners should anticipate ongoing cost adjustments based on national insurance trends.
Property taxes in Memphis are levied by both the city and Shelby County, with assessments managed by the county assessor. The tax structure includes various exemptions for owner-occupied residences, though the overall burden is influenced by the need to fund municipal services and school district operations.
Researched annual trajectory for this city, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this city's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Data retrieved from data.census.gov profile for Memphis city, Tennessee.
No public schools report a street address in this area. Source: NCES EDGE public school locations 2023-24.