How much do homes cost in Memphis, TN?

Citywide median prices generally run in the $210,000 to $280,000 range, roughly 40 to 50 percent below the national median, though specific neighborhoods vary widely — some historic districts run well above that, others well below.

Memphis, TN

Real character, real affordability.

Q: What are the best neighborhoods in Memphis proper?

It depends on priorities. East Memphis and the historic districts like Central Gardens and Evergreen offer established, walkable streets. Midtown and Cooper-Young suit buyers wanting a more urban, arts-driven feel. Downtown and the medical district suit people prioritizing a short commute.

Memphis proper covers everything from historic districts to walkable arts neighborhoods to the medical district — and it's one of the most affordable major metros in the country.

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$210K–$280KTypical citywide median

40–48%Below national median price

~40–46 DaysTypical time on market

Historic + UrbanWide range of neighborhoods

Citywide figures as of this year — Memphis proper varies more block to block than any suburb on this list. A buyer quiz or Home Equity Audit gives you numbers specific to your street.

What makes Memphis proper different

It's not one market. It's a dozen.

"Memphis" covers a lot of ground: the historic mansions of Central Gardens and the Evergreen Historic District, the bungalow streets of Cooper-Young, the riverfront in Harbor Town and South Bluffs, East Memphis closer to the suburbs, and the medical district and downtown near the center of it all. Prices and character shift dramatically block by block, which is normal here — it's not a red flag, it's just how the city is built.

What ties it together is affordability. Memphis runs 40 to 50 percent below the national median home price, which means buyers get more house, more land, or more walkable character for the same budget than almost anywhere else in a major metro.

It also suits people who work downtown, at the medical district, or anywhere central — the commute math is simply different than it is from the suburbs 30-40 minutes out.

Who tends to land here

Buyers who want the most house for the moneyMemphis proper's affordability is genuinely unusual for a major metro.
People who work centrallyDowntown, the medical district, and midtown employers make a short commute realistic.
Buyers drawn to character over new constructionHistoric districts and established bungalow neighborhoods you won't find in the newer suburbs.
First-time buyers stretching every dollarLower entry prices mean a smaller down payment goes further here than in the suburbs.

Common questions about Memphis proper

Is Memphis, TN a good place to buy a house?

Memphis is one of the more affordable major metros in the country, with median prices well below the national average and a wide range of historic and walkable neighborhoods. It suits buyers wanting urban character or the most home for their money.

What are the best neighborhoods in Memphis proper?

It depends on priorities. East Memphis and historic districts like Central Gardens and Evergreen offer established, walkable streets. Midtown and Cooper-Young suit a more urban, arts-driven feel. Downtown and the medical district suit a short commute.

How much do homes cost in Memphis?

Citywide median prices generally run $210,000 to $280,000, though specific neighborhoods vary widely — some historic districts run well above that, others well below.

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