Memphis, TN Home Values (2026)
In the Memphis real estate market, the median home is worth about $136,000 (~$129/sq ft) — 53% more affordable than the typical U.S. home. Below: average prices by home size, what it costs to live here, and a free estimator for your own address.
Thinking of moving to Memphis?
Here’s what the numbers say about housing costs in Memphis. A typical home runs about $136,000, which is 53% more affordable than the national median and 50% more affordable than the Tennessee average. At roughly $129 per square foot, a median budget here buys you around 1,050 sq ft of home.
Prices swing a lot by neighborhood: across Memphis’s 23 ZIP codes, the most affordable is 38106 (~$59,000) and the priciest is 38120 (~$428,000) — roughly a 7.3× difference. If you’re relocating, that spread is where the real budgeting happens, so it pays to target ZIP by ZIP rather than the citywide average.
Memphis home value by size
Using the local rate of about $129 per square foot, here’s a rough estimate by home size. Condition, lot, and exact location move these meaningfully.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $129,000 |
| 1,500 sq ft | $193,500 |
| 2,000 sq ft | $258,000 |
| 2,500 sq ft | $322,500 |
| 3,000 sq ft | $387,000 |
Living in Memphis: what to know before you move
Home prices tell you what it costs to buy in Memphis, but daily life depends on much more. On housing alone, a typical home here runs $136,000 (~$129/sq ft), 53% more affordable than the national median — making Memphis relatively affordable to buy in. That’s usually the biggest line in a household budget, but it’s only part of the picture. Here’s where to research the things home values don’t capture:
- Schools. School quality varies widely by neighborhood and shapes both family life and resale value. Check Memphis school ratings and attendance zones on GreatSchools.
- Cost of living. Beyond the mortgage, weigh groceries, utilities, healthcare, and local taxes. Compare Memphis’s cost of living.
- Safety. Crime and safety differ block to block, so check local data before settling on an area. Review Memphis crime and safety stats.
- The bigger picture. For history, economy, climate, and local context, read about Memphis on Wikipedia.
We specialize in housing data; the links above go to independent sources so you can verify schools, safety, and cost of living for yourself — the details that matter most when you’re choosing where to live.
Estimate your specific home in Memphis
Enter your ZIP and size for an instant estimate tailored to your exact area:
Memphis home prices: frequently asked
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Grow your home’s value in Memphis
Use our Increase Home Value calculator to see which improvements add the most, or read the pre-sale projects that actually pay off. See how Memphis stacks up against other Tennessee cities on the Tennessee home values page, or browse the full U.S. directory.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. Actual values vary by home and change over time.
Nearby cities
Home prices in cities near Memphis: