Foreclosure Homes in Memphis, TN

Buyer vs Seller Market in Memphis, TN

The Memphis real estate market has been experiencing a steady increase in home prices over the past few months, driven by low inventory and strong demand. Many neighborhoods have seen significant appreciation in home values, making it a competitive market for buyers.

As the economy recovers from the pandemic, there is a growing trend in the city towards urban living, with many young professionals looking to live closer to downtown amenities, leading to a surge in interest for condos and multifamily housing.

Rent Prices In Memphis, TN

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Memphis, TN, is on a rollercoaster ride. The average rent price in Memphis, TN, is $1,177.00. Indeed, when looking to rent in Memphis, TN, you can expect to pay as little as $460.00 or as much as $4,140.00, with the average rent median estimated to be $1,090.00. The good news is that finding an affordable and desirable property to rent in Memphis, TN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.