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Memphis, TN Foreclosures

How much do homes sell for in Memphis, TN?
The average home price is currently $250,850.
In Memphis, TN, how many homes are available?
There are currently 183 active home listings available in Memphis.
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 $99,662,744.
What is currently the cheapest priced home in Memphis, TN?
The cheapest home for sale in Memphis is priced at $10,004.

Living in Memphis, TN

Memphis is a vibrant city known for its rich cultural history and musical heritage, particularly in blues and rock 'n' roll. The city offers a mix of urban and southern experiences, with diverse neighborhoods full of local eateries and attractions like Beale Street and Graceland. With an affordable cost of living and a friendly community vibe, Memphis is a great place for both families and young professionals.

Current Market Conditions in Memphis, TN

The real estate market in Memphis is currently experiencing a steady demand, particularly in residential areas due to the city's affordable living costs. Properties are selling relatively quickly, and first-time homebuyers are increasingly active in the market, drawn to the appealing prices compared to other metropolitan areas.

Investors are taking notice of the rental opportunities in Memphis as well, with a growing interest in buy-and-hold strategies due to the city's population growth and economic improvements.

Home Value Estimator For Memphis, TN

There are currently 214,215 real estate properties in Memphis, TN, with a median automated valuation model (AVM) price of $156,458.00. 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 $250,850.00, with the most expensive house in Memphis, TN, topping out at $99,662,744.00 and the cheapest home in Memphis, TN, clocking in at $10,004.00. 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.

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