Housing in Memphis, TN

Home values, rent, ownership rates, and housing market data

Housing Market Snapshot

Source: Redfin — January 2026

Median Sale Price

$175,000

Median List Price

$125,000

Price Per Sq Ft

$112

Days on Market

52

Active Inventory

2,095

Months of Supply

7.1

Buyer's market

Zillow Home Value

$141,489

ZHVI — January 2026

Zillow Rent Index

$1,232

ZORI — January 2026

Price Trends

Source: Redfin
Sale Price ↑ 2.9%List Price ↓ 34.2%Mar 24 → Jan 26

Market Competitiveness

Source: Redfin

Sold Above List

10.5%

Off Market in 2 Weeks

23.3%

Sale-to-List Ratio

93.9%

Buyer's market

Sold Above Asking
10.5%
Under Contract in 2 Wks
23.3%
Listings with Price Drops
24.0%

Market Activity

Source: Redfin

Homes Sold

296

New Listings

1,883

Pending Sales

434

Homes Sold ↓ 43.5%New Listings ↑ 138.4%Pending ↓ 42.2%Mar 24 → Jan 26

Price Per Square Foot

Source: Redfin

Median Sale $/SF

$112

Median List $/SF

$94

Sale $/SF ↓ 5.9%List $/SF ↓ 30.4%Mar 24 → Jan 26

Memphis vs Similar Cities

Source: Census ACS / Redfin (2023)

Compared to cities with 500,000 - 1,000,000 residents. Memphis is highlighted.

Median Home Value

Median Rent

Median Price Per Sq Ft

Rent Burden

Census Housing Data

Source: U.S. Census Bureau ACS (2023)

Median Home Value

$157,100

Median Rent

$1,123

Total Housing Units

292,290

Vacancy Rate

12.9%

Owner Occupied

46.0%

Renter Occupied

54.0%

Median Property Tax

$1,848

per year

Monthly Cost (w/ Mortgage)

$1,011

Housing Types

Single Family
65.5%
Multi-Family
33.3%
Mobile Home
1.1%

The current median sale price in Memphis, TN is $175,000 according to Redfin data. Homes spend a median of 52 days on the market. 10.5% of homes sold above asking price. The market has 7.1 months of supply. The median price per square foot is $112. Zillow's observed rent index is $1,232/month. About 46.0% of housing units are owner-occupied. The median year homes were built is 1970. There are 292,290 total housing units.