Memphis housing market: home prices, trends and forecast
Memphis home prices: the Zillow Home Value Index put the value of a typical home in Memphis, Tennessee at $151,794 in September 2026. That was −2.8% compared with a year earlier and −9.4% under the $167,584 peak reached in October 2022.
- Value of a typical home
- $151,794September 2026, Zillow ZHVI
- Change over 12 months
- −2.8%. Compared with September 2025.
Memphis home prices since 2000
Memphis is the steel line, and the United States is the grey line. From January 2000, the typical Memphis home rose from $85,197 to $151,794, a change of ×1.78. Over those same months, the US figure was ×2.99. During the boom, values peaked in May 2007 at $101,633, then fell to a low of $61,961 in February 2013, a change of −39.0%.
Memphis median home price by year
Each year uses an average of its twelve monthly values, while 2026 shows the most recent month.
| Year | Memphis | Change on the year | United States |
|---|---|---|---|
| 2000 | $86,082 | $125,745 | |
| 2001 | $88,486 | +2.8% | $134,899 |
| 2002 | $90,025 | +1.7% | $144,276 |
| 2003 | $91,611 | +1.8% | $155,308 |
| 2004 | $92,978 | +1.5% | $169,891 |
| 2005 | $96,367 | +3.6% | $189,732 |
| 2006 | $99,874 | +3.6% | $206,531 |
| 2007 | $100,715 | +0.8% | $208,449 |
| 2008 | $90,090 | −10.5% | $195,574 |
| 2009 | $77,942 | −13.5% | $177,542 |
| 2010 | $71,450 | −8.3% | $171,462 |
| 2011 | $64,882 | −9.2% | $162,508 |
| 2012 | $64,223 | −1.0% | $161,137 |
| 2013 | $64,453 | +0.4% | $171,420 |
| 2014 | $72,448 | +12.4% | $182,996 |
| 2015 | $75,484 | +4.2% | $192,738 |
| 2016 | $78,517 | +4.0% | $204,509 |
| 2017 | $85,550 | +9.0% | $216,767 |
| 2018 | $95,342 | +11.4% | $230,541 |
| 2019 | $104,851 | +10.0% | $242,088 |
| 2020 | $115,428 | +10.1% | $257,151 |
| 2021 | $138,321 | +19.8% | $295,959 |
| 2022 | $161,766 | +17.0% | $340,014 |
| 2023 | $161,064 | −0.4% | $348,160 |
| 2024 | $158,050 | −1.9% | $359,751 |
| 2025 | $157,751 | −0.2% | $362,959 |
| September 2026 | $151,794 | −2.8% | $366,157 |
Current value of a Memphis home bought in any year
This is an index-based estimate for a typical home rather than an appraisal.
Each year's figure averages twelve monthly index values, and the current value comes from September 2026. You can also use the home appreciation calculator.
Considering a sale? Compare local agents at Realtor.com. Advertising disclosure: links like this one may pay the site, but they never change a number. Disclosure.
Memphis housing market forecast
For the Memphis, TN metro, Zillow's forecast shows −0.1% across the 12 months from September 2026. It also shows −0.2% for the next three months. Under that forecast, Memphis's typical value of $151,794 would be near $151,600 a year on.
Zillow's central estimate for the metro is restated here; this site does not publish a forecast of its own. Forecasts like this over a 12-month period have usually been off by several percentage points from the realised change, in both directions. This is not investment advice.
One table lists the forecast for every metro: housing market forecast.
Memphis housing market crash risk score
57 out of 100, a raised level
Memphis is ranked among 292 cities by five conditions that were high before earlier price falls. Every input is scored from 0 to 100 compared with the other cities, then the five scores are averaged with equal weight. It shows current conditions and does not predict a crash.
| Input | Value | Sub-score | Weight |
|---|---|---|---|
| Active listings vs 2019 | +68.3% | 96 | 20% |
| Time on the market vs 2019 | +33.3% | 90 | 20% |
| Price-to-rent ratio | 10.0 | 4 | 20% |
| Price-to-income ratio | 2.9 | 4 | 20% |
| 12-month price change | −2.8% | 93 | 20% |
This is not investment advice. Scoring method for the inputs: methodology. Rankings for all 292 cities: crash risk by city.
Memphis inventory and days on market
In September 2026 the Memphis, TN metro counted 5,404 homes for sale. Compared with the same month of 2019, that is +68.3%, and it is +8.1% on a year earlier. Listings sold in a median of 72 days (+33.3% against 2019), and 24.3% of them had a price cut.
| Memphis, TN metro, September 2026 | Value | On a year |
|---|---|---|
| Active listings | 5,404 | +8.1% |
| New listings | 1,460 | |
| Median days on market | 72 | +7.5% |
| Median list price | $299,950 | −8.7% |
| Share with a price cut | 24.3% |
Metro inventory from Realtor.com® Economic Research. Realtor.com data. Days on market for every metro.
Living costs in Memphis
Memphis's typical asking rent is $1,259 a month according to Zillow Observed Rent Index, +1.7% compared with a year earlier. Paying that rent for 10.0 years equals the cost of a typical home. With a median household income of $52,679 (Census ACS 2024), the typical home costs 2.9 times a year's income. Prices in the metro stand at 92.2 on the BEA scale, where the US average is 100, and housing costs at 79.8.
The salary needed to move there, along with rent and prices: Memphis living costs.
More housing markets in Tennessee
- Nashville at $425,889.
- Knoxville at $368,965.
- Chattanooga at $314,999.
- Clarksville at $317,914.
- Murfreesboro at $424,348.
- Franklin at $913,277.
- Cleveland, Tennessee $308,369
Across the state: Tennessee housing market.
How to read this chart
Each point plots the Zillow Home Value Index for Memphis: what a typical home in the market's middle third was worth, smoothed and seasonally adjusted, in the dollars of that month. A hollow dot indicates the slider position, while a terracotta dot marks the latest point. The figures do not account for inflation, and an index tracks the typical home rather than any single house. Use the card above or the home appreciation calculator to work out one home's value based on its own sale price.