Home Values

Memphis Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$145,100

  • 4.8% 1-year change
  • 2.4% 1-year forecast

The median home value in Memphis is $145,100. Memphis home values have gone up 4.8% over the past year and Zillow predicts they will rise 2.4% within the next year. The median price of homes currently listed in Memphis is $189,000.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Memphis is 3.4%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Memphis homeowners underwater on their mortgage is 16.2%, which is lower than Detroit Metro at 23.2%.

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Relative ZHVI
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Memphis Market Overview

Data through Aug 31, 2014
  • $145,100 ZHVI
  • 2.4% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Aug 31, 2015)
  • $189,000 Median listing price
  • No data Median sale price
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Memphis Market Health

Data through Aug 31, 2014
  • 7.3/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 16.2% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 3.4% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Cities

Name Median ZHVI
Armada $180,600
Columbus $160,800
Richmond $156,400
Name Median ZHVI
Allenton $152,600
Goodells $147,400
Emmett $140,900
Name Median ZHVI
New Haven $136,600
Avoca $125,100
Capac $101,800

Listings & Sales

Data through Aug 31, 2014
  • $85 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 45.5% Listings with price cut
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Memphis Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $1,138 Memphis
    $1,062 Detroit Metro
    $1,328 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.6 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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