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

$67,300

  • 0.3% 1-year change
  • 3.7% 1-year forecast

The median home value in Memphis is $67,300. Memphis home values have gone up 0.3% over the past year and Zillow predicts they will rise 3.7% within the next year. The median list price per square foot in Memphis is None. The median rent price in Memphis is $850, which is lower than the Memphis Metro median of $900.

Foreclosures will be a factor impacting home values in the next several years. In Memphis 11.1 homes are foreclosed (per 10,000). This is greater than the Memphis Metro value of 8.2 and also greater than the national value of 3.9

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 6.2%, which is lower than the national value of 6.3%. 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 28.9%, which is higher than Memphis Metro at 25.1%.

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Relative ZHVI
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Memphis Market Overview

Data through Apr 30, 2015
  • $67,300 ZHVI
  • 3.7% 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
    (Apr 30, 2016)
  • No data Median listing price
  • $117,812 Median sale price
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Memphis Market Health

Data through Apr 30, 2015
  • No recent data Less healthy
  • No data Average days on Zillow
  • 28.9% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 6.2% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

11.1 homes Memphis
8.2 homes Memphis Metro
3.9 homes United States
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Neighborhoods in Memphis

Name Median ZHVI
East Memphis-Colonial-Yorkshire $89,600
Hickory Ridge-South Riverdale $77,500
Raleigh $67,700
Name Median ZHVI
Midtown $59,100
White Haven-Coro Lake $56,200
Parkway Village-Oakhaven $56,000
Name Median ZHVI
Downtown Memphis $45,800
Shelby Forest-Frayser $43,300
Berclair-Highland Heights $41,200

Listings & Sales

Data through Apr 30, 2015
  • No recent data Median list price / sq ft
  • $66 Median sale price / sq ft
  • No data Listings with price cut
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Memphis Rentals

Data through Apr 30, 2015
  • Zillow Rent Index

  • $864 Memphis
    $1,070 Memphis Metro
    $1,364 United States

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

  • 1.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $850 Rent list price
  • $0.65 Rent list price / sq ft
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