Memphis is a major metropolitan area in TN with a population of 655,760 residents. With a median home price of $299,400 (14% below the national median) and median household income of $59,716, Memphis is considered somewhat expensive with a price-to-income ratio of 5.0x.
The real estate market in Memphis features a median home price of $299,400, which is 14% lower than the U.S. national median of $350,000. Monthly rent averages $1,247, 17% below the national average. Over the past decade, rent has increased by 64%.
Memphis has a diverse population that represents a wide range of backgrounds, ages, and household types contributing to the city's vibrant community.
Memphis offers a median household income of $59,716, which is 15% lower than the national median of $70,000. Residents spend approximately 25% of their income on rent annually, which is within the recommended 30% threshold.
Understanding the climate of Memphis is important for those considering relocating. Weather patterns affect daily life, activities, and overall comfort.
See how Memphis compares to other popular destinations. Compare cost of living, housing prices, and quality of life.
The median home price in Memphis is $299,400, with average monthly rent of $1,247. The median household income is $59,716, giving the city a price-to-income ratio of 5.0x.
Memphis has moderate affordability with a price-to-income ratio of 5.0x, close to the national average.
Memphis has a population of 655,760 residents, making it the #33 largest city in the United States.
Memphis has a violent crime rate of 672 per 100,000 residents, which is above the national average. The property crime rate is 2256 per 100,000 residents.
Estates is a comprehensive cost of living comparison platform that helps you compare cities across the United States. We provide data on housing prices, rent, income, crime rates, demographics, and climate to help you make informed relocation decisions. Our data comes from trusted sources including Zillow, the U.S. Census Bureau, FBI, and NOAA.
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