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Cheap Homes in Memphis, TN 38104

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Memphis, TN Foreclosures

How much do homes sell for in Memphis, TN?
The average home price is currently $206,979.
What’s the average rental cost in Memphis, TN?
The average rental price in Memphis is $1,177.
What is the most expensive home in Memphis?
The most expensive home sold in Memphis had a price of $68,899,536.
What is currently the cheapest priced home in Memphis, TN?
The cheapest home for sale in Memphis is priced at $10,006.

Living in Memphis, TN

Memphis, TN, is a city rich in music history and culture, known for its barbecue and lively entertainment scene. Residents enjoy a low cost of living and access to outdoor activities in its expansive parks. With a commitment to community and education, Memphis is a great place for families and young professionals.

Current Market Conditions in Memphis, TN

The Memphis real estate market has remained dynamic over the past few years, with a steady increase in home prices driven by demand in both urban and suburban neighborhoods. The city's unique blend of cultural appeal and affordability makes it a desirable location for homebuyers looking for investment opportunities.

Recently, mortgage rates have impacted buyer behavior, leading to a slight cooling in the market. However, demand for housing remains strong in Memphis, with an increasing number of first-time homebuyers entering the market. Developers are also showing interest in revitalizing older neighborhoods, contributing to a diverse range of housing options.

Home Value Estimator For Memphis, TN

There are currently 205,747 real estate properties in Memphis, TN, with a median automated valuation model (AVM) price of $155,681.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Memphis, TN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Memphis, TN, is $206,979.00, with the most expensive house in Memphis, TN, topping out at $68,899,536.00 and the cheapest home in Memphis, TN, clocking in at $10,006.00. In other words, there’s something for every potential homebuyer or savvy investor in Memphis, TN!

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.

Cheap Homes in Memphis, TN 38104

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