Median home price in Memphis: $180,000. Property tax rate: 1.29%. Get mortgage estimates, affordability analysis, and local market insights.
Population
633,104
Median Home Price
$180,000
Property Tax Rate
1.29%
Median Income
$41,228
Cost of Living
82/ 100
The median home price in Memphis, TN is $180,000. Prices vary considerably by neighborhood, with some areas commanding premiums well above the median. Comparing the median price to the local median household income of $41,228 gives you a price-to-income ratio that helps gauge overall affordability.
Homeowners in Memphis pay an effective property tax rate of 1.29%. On a home priced at $180,000, that translates to thousands of dollars per year. Factor in homeowners insurance, potential HOA fees, and maintenance costs when budgeting for your purchase.
With the median home price at $180,000, most buyers in Memphis will need a mortgage. A 20% down payment would be significant in this market. Get pre-approved early and compare rates from multiple lenders. Our mortgage calculator can help you estimate monthly payments based on current rates.
Memphis offers a range of neighborhoods from urban cores to suburban enclaves. The overall cost of living index of 82 reflects the average, but specific neighborhoods can differ widely. Research school ratings, commute times, and future development plans before choosing where to buy.
Use our free calculator with Memphis-specific data already filled in.
Open Memphis CalculatorPlanning a move to Memphis? Cost of living index: 82/100. Median home: $180,000. Median income: $41,228. Get the full relocation breakdown.
Memphis cost of living index: 82/100 (100 = national avg). Median home $180,000, median income $41,228. See housing, groceries & more.
Median household income in Memphis: $41,228. Cost of living index: 82/100. See how far your salary really goes and compare local job market data.
Property tax rate in Memphis: 1.29%. Median home price: $180,000. Calculate your annual bill, compare to state averages, and find exemptions.
Should you rent in Memphis? Cost of living index: 82/100. Median income: $41,228. See how much rent you can afford and where to look.
What does commuting cost in Memphis? Population: 633,104. Median income: $41,228. Compare transit, driving, and biking options with real local data.
Median home in Memphis: $180,000. Tax rate: 1.29%. Compare Memphis neighborhoods by price, schools, and lifestyle to find the right fit.