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

$66,700

  • 0.5% 1-year change
  • 3.1% 1-year forecast

The median home value in Memphis is $66,700. Memphis home values have gone up 0.5% over the past year and Zillow predicts they will rise 3.1% within the next year. The median list price per square foot in Memphis is $55, which is lower than the Memphis Metro average of $79. The median price of homes currently listed in Memphis is $87,000 while the median price of homes that sold is $122,275. The median rent price in Memphis is $825, which is lower than the Memphis Metro median of $895.

Foreclosures will be a factor impacting home values in the next several years. In Memphis 10.1 homes are foreclosed (per 10,000). This is greater than the Memphis Metro value of 8.7 and also greater than the national value of 4.0

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 7.1%, which is higher 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 29.2%, which is higher than Memphis Metro at 24.1%.

Read more
Relative ZHVI
- +

Memphis Market Overview

Data through Sep 30, 2014
  • $66,700 ZHVI
  • 3.1% 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
    (Sep 30, 2015)
  • $87,000 Median listing price
  • $122,275 Median sale price
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Memphis Market Health

Data through Sep 30, 2014
  • 0.4/10 Less 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
  • 29.2% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 7.1% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

10.1 homes Memphis
8.7 homes Memphis Metro
4 homes United States
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Neighborhoods in Memphis

Name Median ZHVI
East Memphis-Colonial-Yorkshire $89,600
Hickory Ridge-South Riverdale $82,100
Raleigh $69,000
Name Median ZHVI
White Haven-Coro Lake $57,000
Parkway Village-Oakhaven $56,000
Midtown $54,100
Name Median ZHVI
Shelby Forest-Frayser $40,400
Downtown Memphis $38,900
Berclair-Highland Heights $37,300

Listings & Sales

Data through Sep 30, 2014
  • $55 Median list price / sq ft
  • $69 Median sale price / sq ft
  • 35.6% Listings with price cut
32.7%
Sold below listing
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Memphis Rentals

Data through Sep 30, 2014
  • Zillow Rent Index

  • $862 Memphis
    $1,063 Memphis Metro
    $1,335 United States

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

  • 0.9 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $825 Rent list price
  • $0.63 Rent list price / sq ft
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading