Calculate using real Memphis data. Median home price: $180,000. Property tax rate: 1.29%.
The median home price in Memphis, TN is $180,000. With a 20% down payment, you would need $36,000 down and finance $144,000.
Based on the median home price of $180,000 with 20% down at a 6.5% rate, the estimated monthly payment (principal & interest) is approximately $910.
The median household income in Memphis, TN is $41,228, which impacts how much home you can afford.